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

Curtiss-Wright Co. (NYSE:CW) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 341,700 shares, a decline of 7.5% from the December 15th total of 369,300 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 269,200 shares, the short-interest ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

CW has been the topic of a number of recent analyst reports. Morgan Stanley lifted their target price on Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price objective for the company. in a research report on Monday, November 18th. Truist Financial increased their price objective on shares of Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a research note on Tuesday, January 14th. StockNews.com cut shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. Finally, Alembic Global Advisors started coverage on Curtiss-Wright in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $383.00.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, VP John C. Watts sold 412 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $359.55, for a total value of $148,134.60. Following the transaction, the vice president now directly owns 4,183 shares of the company’s stock, valued at $1,503,997.65. This trade represents a 8.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lynn M. Bamford sold 7,129 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $368.80, for a total transaction of $2,629,175.20. Following the sale, the chief executive officer now directly owns 28,688 shares of the company’s stock, valued at approximately $10,580,134.40. This trade represents a 19.90 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired 116 shares of company stock valued at $35,278 in the last quarter. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Magnetar Financial LLC acquired a new stake in Curtiss-Wright during the second quarter worth approximately $3,025,000. MML Investors Services LLC lifted its position in shares of Curtiss-Wright by 21.8% during the 3rd quarter. MML Investors Services LLC now owns 9,786 shares of the aerospace company’s stock valued at $3,217,000 after acquiring an additional 1,754 shares during the period. Oppenheimer & Co. Inc. bought a new position in Curtiss-Wright during the third quarter worth $542,000. Fisher Asset Management LLC grew its holdings in Curtiss-Wright by 8.4% in the third quarter. Fisher Asset Management LLC now owns 70,454 shares of the aerospace company’s stock worth $23,158,000 after purchasing an additional 5,437 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Curtiss-Wright by 9.8% in the third quarter. JPMorgan Chase & Co. now owns 119,142 shares of the aerospace company’s stock worth $39,161,000 after purchasing an additional 10,642 shares during the period. 82.71% of the stock is owned by institutional investors.

Curtiss-Wright Trading Up 0.3 %

Curtiss-Wright stock traded up $0.97 during mid-day trading on Monday, hitting $366.88. 151,169 shares of the stock were exchanged, compared to its average volume of 247,136. The firm’s fifty day simple moving average is $363.91 and its two-hundred day simple moving average is $331.72. The company has a quick ratio of 1.39, a current ratio of 1.98 and a debt-to-equity ratio of 0.39. Curtiss-Wright has a 12 month low of $220.90 and a 12 month high of $393.40. The stock has a market capitalization of $13.92 billion, a price-to-earnings ratio of 34.71, a PEG ratio of 2.51 and a beta of 1.19.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 22nd were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.84 annualized dividend and a yield of 0.23%. Curtiss-Wright’s payout ratio is 7.95%.

Curtiss-Wright Company Profile

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.