StockNews.com Upgrades Curtiss-Wright (NYSE:CW) to Strong-Buy

StockNews.com upgraded shares of Curtiss-Wright (NYSE:CW) from a buy rating to a strong-buy rating in a research report released on Thursday morning.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus upped their target price on shares of Curtiss-Wright from $310.00 to $318.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Robert W. Baird upped their target price on shares of Curtiss-Wright from $300.00 to $312.00 and gave the stock an outperform rating in a research report on Friday, August 9th. Morgan Stanley upped their target price on shares of Curtiss-Wright from $284.00 to $330.00 and gave the stock an overweight rating in a research report on Thursday, May 23rd. Finally, Truist Financial upped their target price on shares of Curtiss-Wright from $252.00 to $270.00 and gave the stock a hold rating in a research report on Wednesday, May 22nd. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $307.50.

Curtiss-Wright Price Performance

Shares of Curtiss-Wright stock opened at $309.95 on Thursday. The company has a current ratio of 2.05, a quick ratio of 1.42 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $11.87 billion, a price-to-earnings ratio of 31.92 and a beta of 1.18. Curtiss-Wright has a 1-year low of $190.64 and a 1-year high of $318.20. The firm’s 50-day moving average price is $292.30 and its two-hundred day moving average price is $272.64.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings data on Wednesday, August 7th. The aerospace company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.43. The firm had revenue of $785.00 million for the quarter, compared to analysts’ expectations of $735.82 million. Curtiss-Wright had a net margin of 13.05% and a return on equity of 17.07%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.15 earnings per share. On average, equities analysts predict that Curtiss-Wright will post 10.55 earnings per share for the current fiscal year.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be issued a $0.21 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 0.27%. Curtiss-Wright’s dividend payout ratio is currently 8.65%.

Insider Activity at Curtiss-Wright

In related news, Director Glenda J. Minor sold 500 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $302.80, for a total value of $151,400.00. Following the transaction, the director now directly owns 1,382 shares in the company, valued at $418,469.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 120 shares of company stock worth $27,914 over the last ninety days. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Curtiss-Wright

Several large investors have recently bought and sold shares of CW. Vanguard Group Inc. increased its stake in Curtiss-Wright by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,657,854 shares of the aerospace company’s stock valued at $936,191,000 after purchasing an additional 18,939 shares in the last quarter. Boston Partners increased its stake in Curtiss-Wright by 3.0% in the first quarter. Boston Partners now owns 1,393,662 shares of the aerospace company’s stock valued at $356,684,000 after purchasing an additional 40,657 shares in the last quarter. Norges Bank bought a new stake in Curtiss-Wright in the fourth quarter valued at approximately $113,885,000. Global Alpha Capital Management Ltd. increased its stake in Curtiss-Wright by 41.7% in the first quarter. Global Alpha Capital Management Ltd. now owns 352,813 shares of the aerospace company’s stock valued at $90,299,000 after purchasing an additional 103,780 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in Curtiss-Wright by 30,079.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 302,396 shares of the aerospace company’s stock valued at $81,943,000 after purchasing an additional 301,394 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.