Curtiss-Wright (NYSE:CW) Reaches New 12-Month High – Still a Buy?

Shares of Curtiss-Wright Corporation (NYSE:CW) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $714.95 and last traded at $709.8750, with a volume of 41808 shares traded. The stock had previously closed at $702.55.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CW. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Truist Financial set a $603.00 price target on shares of Curtiss-Wright in a report on Friday, January 9th. Stifel Nicolaus lifted their price objective on Curtiss-Wright from $625.00 to $650.00 and gave the company a “hold” rating in a report on Friday, February 13th. Morgan Stanley restated an “overweight” rating and issued a $760.00 price objective on shares of Curtiss-Wright in a research report on Friday, February 13th. Finally, Wall Street Zen upgraded Curtiss-Wright from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $663.17.

Curtiss-Wright Trading Down 0.2%

The business’s 50 day simple moving average is $618.63 and its two-hundred day simple moving average is $561.61. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.30. The stock has a market cap of $25.85 billion, a P/E ratio of 54.89, a PEG ratio of 3.06 and a beta of 0.93.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, February 11th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $0.13. Curtiss-Wright had a net margin of 13.84% and a return on equity of 19.28%. The firm had revenue of $946.98 million for the quarter, compared to the consensus estimate of $890.14 million. During the same quarter in the previous year, the company earned $3.27 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, analysts expect that Curtiss-Wright Corporation will post 12.32 EPS for the current year.

Curtiss-Wright Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be paid a $0.24 dividend. The ex-dividend date is Thursday, March 26th. This represents a $0.96 annualized dividend and a yield of 0.1%. Curtiss-Wright’s dividend payout ratio (DPR) is currently 7.46%.

Insiders Place Their Bets

In related news, COO Kevin Rayment sold 2,634 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $626.33, for a total transaction of $1,649,753.22. Following the completion of the sale, the chief operating officer directly owned 29,896 shares in the company, valued at $18,724,761.68. This represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO K Christopher Farkas sold 2,665 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $626.33, for a total value of $1,669,169.45. Following the completion of the sale, the chief financial officer directly owned 7,358 shares of the company’s stock, valued at $4,608,536.14. The trade was a 26.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,269 shares of company stock valued at $10,797,098 over the last three months. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On Curtiss-Wright

A number of institutional investors have recently made changes to their positions in the company. Atlantic Union Bankshares Corp bought a new position in Curtiss-Wright in the third quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Curtiss-Wright during the second quarter valued at approximately $27,000. Penserra Capital Management LLC purchased a new stake in Curtiss-Wright during the second quarter valued at $29,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Curtiss-Wright in the 4th quarter worth approximately $31,000. Finally, Larson Financial Group LLC grew its position in Curtiss-Wright by 53.8% in the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock valued at $33,000 after acquiring an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Company Profile

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.