Curtiss-Wright (NYSE:CW) Issues Quarterly Earnings Results

Curtiss-Wright (NYSE:CW) posted its quarterly earnings results on Wednesday. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.66 by $0.13, Zacks reports. The firm had revenue of $946.98 million for the quarter, compared to analysts’ expectations of $890.14 million. Curtiss-Wright had a return on equity of 18.82% and a net margin of 13.78%.The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.27 EPS.

Curtiss-Wright Stock Performance

NYSE:CW opened at $635.08 on Thursday. The company has a market capitalization of $23.42 billion, a P/E ratio of 51.76, a P/E/G ratio of 2.94 and a beta of 0.93. The business has a fifty day simple moving average of $602.35 and a two-hundred day simple moving average of $553.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.75 and a quick ratio of 1.17. Curtiss-Wright has a 1 year low of $266.88 and a 1 year high of $683.09.

Curtiss-Wright Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, March 26th. Curtiss-Wright’s dividend payout ratio (DPR) is currently 7.82%.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, 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 owned 7,358 shares in the company, valued at $4,608,536.14. This trade represents a 26.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Gary A. Ogilby sold 625 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $624.32, for a total transaction of $390,200.00. Following the completion of the sale, the vice president directly owned 2,571 shares in the company, valued at approximately $1,605,126.72. This trade represents a 19.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,269 shares of company stock worth $10,797,098 in 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 and hedge funds have recently made changes to their positions in CW. AQR Capital Management LLC grew its position in Curtiss-Wright by 45.8% during the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock worth $189,468,000 after buying an additional 122,048 shares in the last quarter. Freestone Grove Partners LP bought a new stake in shares of Curtiss-Wright during the 3rd quarter valued at about $62,320,000. Qube Research & Technologies Ltd grew its holdings in shares of Curtiss-Wright by 94.9% during the third quarter. Qube Research & Technologies Ltd now owns 156,515 shares of the aerospace company’s stock worth $84,978,000 after purchasing an additional 76,220 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Curtiss-Wright in the third quarter worth approximately $37,955,000. Finally, Lazard Asset Management LLC increased its position in shares of Curtiss-Wright by 71.9% in the third quarter. Lazard Asset Management LLC now owns 131,801 shares of the aerospace company’s stock worth $71,560,000 after purchasing an additional 55,122 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wall Street Zen upgraded Curtiss-Wright from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Stifel Nicolaus set a $625.00 target price on Curtiss-Wright in a report on Friday, January 23rd. Citigroup lifted their price target on shares of Curtiss-Wright from $607.00 to $661.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. Truist Financial set a $603.00 price objective on shares of Curtiss-Wright in a report on Friday, January 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $660.00 price objective 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 given a Hold rating to the company. According to MarketBeat.com, Curtiss-Wright currently has an average rating of “Moderate Buy” and an average target price of $612.33.

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.