Curtiss-Wright (NYSE:CW) Sets New 52-Week Low – Here’s What Happened

Shares of Curtiss-Wright Corporation (NYSE:CW) reached a new 52-week low during trading on Wednesday. The stock traded as low as $494.11 and last traded at $502.7920, with a volume of 554,662 shares traded. The stock had previously closed at $504.16.

Analysts Set New Price Targets

CW has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Curtiss-Wright from $793.00 to $622.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Morgan Stanley reiterated an “overweight” rating and issued a $860.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Weiss Ratings downgraded shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Deutsche Bank Aktiengesellschaft set a $801.00 target price on shares of Curtiss-Wright in a research note on Wednesday, August 12th. Finally, Guggenheim assumed coverage on shares of Curtiss-Wright in a research note on Monday, September 14th. They set a “buy” rating and a $786.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $746.88.

Curtiss-Wright Trading Down 0.3%

The company has a fifty day simple moving average of $592.48 and a two-hundred day simple moving average of $683.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12. The company has a market capitalization of $18.57 billion, a P/E ratio of 34.60, a price-to-earnings-growth ratio of 2.28 and a beta of 0.88.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.10. The company had revenue of $924.01 million during the quarter, compared to the consensus estimate of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.23 EPS. On average, analysts forecast that Curtiss-Wright Corporation will post 15.27 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, September 25th. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.24. Curtiss-Wright’s dividend payout ratio (DPR) is 7.16%.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, Director Larry D. Wyche sold 100 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $596.74, for a total transaction of $59,674.00. Following the completion of the sale, the director owned 1,414 shares of the company’s stock, valued at $843,790.36. This represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Watts sold 1,035 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $619.46, for a total transaction of $641,141.10. Following the sale, the executive vice president directly owned 2,736 shares of the company’s stock, valued at approximately $1,694,842.56. This represents a 27.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Wedmont Private Capital lifted its holdings in shares of Curtiss-Wright by 117.2% during the third quarter. Wedmont Private Capital now owns 1,525 shares of the aerospace company’s stock worth $774,000 after buying an additional 823 shares during the last quarter. WoodTrust Financial Corp grew its stake in shares of Curtiss-Wright by 4.0% in the third quarter. WoodTrust Financial Corp now owns 988 shares of the aerospace company’s stock worth $538,000 after acquiring an additional 38 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of Curtiss-Wright by 60.4% in the third quarter. CoreCap Advisors LLC now owns 146 shares of the aerospace company’s stock worth $79,000 after acquiring an additional 55 shares during the last quarter. Cooper Financial Group increased its position in Curtiss-Wright by 9.3% during the third quarter. Cooper Financial Group now owns 376 shares of the aerospace company’s stock worth $204,000 after acquiring an additional 32 shares during the period. Finally, Central Pacific Bank Trust Division raised its stake in Curtiss-Wright by 11.8% during the 3rd quarter. Central Pacific Bank Trust Division now owns 1,330 shares of the aerospace company’s stock valued at $723,000 after purchasing an additional 140 shares during the last quarter. 82.71% of the stock is owned by institutional investors.

About Curtiss-Wright

Curtiss-Wright Corporation is a diversified manufacturer and service provider serving the aerospace, defense, commercial power and industrial markets. The company develops and produces highly engineered components and systems used in applications where reliability, performance and safety are critical.

Its products and services include aircraft and industrial actuation systems, sensors and controls, electronic components, embedded computing systems, data-acquisition equipment, valves, pumps, motors and other flow-control products.