Curtiss-Wright (NYSE:CW) Hits New 52-Week High on Earnings Beat

Curtiss-Wright Corporation (NYSE:CW) reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $709.72 and last traded at $709.2120, with a volume of 75662 shares traded. The stock had previously closed at $634.25.

The aerospace company reported $3.79 EPS for the quarter, beating analysts’ consensus estimates of $3.66 by $0.13. Curtiss-Wright had a return on equity of 18.82% and a net margin of 13.78%.The company had revenue of $946.98 million during the quarter, compared to analysts’ expectations of $890.14 million. During the same period in the prior year, the business posted $3.27 EPS. Curtiss-Wright’s revenue was up 14.9% on a year-over-year basis.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Stockholders of record on Thursday, March 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.96 annualized dividend and a dividend yield of 0.1%. Curtiss-Wright’s dividend payout ratio is currently 7.82%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CW. Wall Street Zen upgraded Curtiss-Wright from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Truist Financial set a $603.00 target price on shares of Curtiss-Wright in a research report on Friday, January 9th. Citigroup raised their price objective on Curtiss-Wright from $607.00 to $661.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $660.00 target price on shares of Curtiss-Wright in a research note on Tuesday, December 16th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and a consensus price target of $612.33.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, VP Gary A. Ogilby sold 625 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $624.32, for a total value of $390,200.00. Following the transaction, the vice president directly owned 2,571 shares in the company, valued at $1,605,126.72. The trade was a 19.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO K Christopher Farkas sold 2,665 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total transaction of $1,669,169.45. Following the completion of the transaction, the chief financial officer directly owned 7,358 shares in the company, valued at approximately $4,608,536.14. This represents a 26.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 17,269 shares of company stock worth $10,797,098 in the last three months. 0.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its position in shares of Curtiss-Wright by 2.3% during the 4th quarter. IFP Advisors Inc now owns 698 shares of the aerospace company’s stock worth $385,000 after acquiring an additional 16 shares in the last quarter. Clearstead Advisors LLC lifted its stake in Curtiss-Wright by 1.6% during the third quarter. Clearstead Advisors LLC now owns 1,067 shares of the aerospace company’s stock worth $579,000 after purchasing an additional 17 shares during the last quarter. Mayflower Financial Advisors LLC boosted its holdings in shares of Curtiss-Wright by 2.9% in the 4th quarter. Mayflower Financial Advisors LLC now owns 611 shares of the aerospace company’s stock valued at $337,000 after purchasing an additional 17 shares in the last quarter. Miracle Mile Advisors LLC increased its stake in shares of Curtiss-Wright by 1.8% in the 3rd quarter. Miracle Mile Advisors LLC now owns 1,020 shares of the aerospace company’s stock valued at $554,000 after purchasing an additional 18 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of Curtiss-Wright by 9.5% in the 3rd quarter. Huntington National Bank now owns 208 shares of the aerospace company’s stock valued at $113,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.75. The company has a market cap of $25.85 billion, a price-to-earnings ratio of 57.80, a PEG ratio of 2.94 and a beta of 0.93. The business has a fifty day moving average price of $602.35 and a 200 day moving average price of $553.94.

About Curtiss-Wright

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.