Curtiss-Wright Co. (NYSE:CW) Sees Large Increase in Short Interest

Curtiss-Wright Co. (NYSE:CW) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 281,400 shares, a growth of 22.7% from the August 15th total of 229,300 shares. Based on an average daily volume of 249,300 shares, the short-interest ratio is currently 1.1 days. Approximately 0.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CW. Robert W. Baird increased their price target 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. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $310.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Truist Financial upped their price target on Curtiss-Wright from $252.00 to $270.00 and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Morgan Stanley lifted their target price on shares of Curtiss-Wright from $284.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, StockNews.com raised Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 12th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $307.50.

Curtiss-Wright Price Performance

NYSE:CW opened at $312.39 on Tuesday. The firm’s fifty day moving average price is $293.09 and its two-hundred day moving average price is $273.44. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.05 and a quick ratio of 1.42. The company has a market cap of $11.96 billion, a P/E ratio of 32.17 and a beta of 1.18. Curtiss-Wright has a one year low of $190.64 and a one year high of $318.20.

Curtiss-Wright (NYSE:CW) last posted 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. Curtiss-Wright had a return on equity of 17.07% and a net margin of 13.05%. The firm had revenue of $785.00 million for the quarter, compared to analysts’ expectations of $735.82 million. During the same quarter last year, the business earned $2.15 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts expect that Curtiss-Wright will post 10.55 earnings per share for the current year.

Curtiss-Wright Announces Dividend

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

Insider Transactions at Curtiss-Wright

In other news, Director Glenda J. Minor sold 500 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $302.80, for a total transaction of $151,400.00. Following the completion of the sale, the director now owns 1,382 shares in the company, valued at approximately $418,469.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought 120 shares of company stock valued at $27,914 in the last three months. Corporate insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Curtiss-Wright

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC lifted its position in shares of Curtiss-Wright by 1,414.4% in the 1st quarter. SG Americas Securities LLC now owns 16,038 shares of the aerospace company’s stock worth $4,105,000 after purchasing an additional 14,979 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Curtiss-Wright by 38.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 76,283 shares of the aerospace company’s stock worth $19,524,000 after buying an additional 21,074 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Curtiss-Wright in the 2nd quarter valued at $41,383,000. Susquehanna Fundamental Investments LLC purchased a new stake in Curtiss-Wright during the first quarter worth about $5,007,000. Finally, Cetera Advisors LLC raised its holdings in shares of Curtiss-Wright by 178.7% in the 1st quarter. Cetera Advisors LLC now owns 3,974 shares of the aerospace company’s stock worth $1,017,000 after purchasing an additional 2,548 shares during the period. Institutional investors and hedge funds own 82.71% of the company’s stock.

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.