Curtiss-Wright (NYSE:CW) Reaches New 1-Year High on Analyst Upgrade

Shares of Curtiss-Wright Co. (NYSE:CW) reached a new 52-week high during trading on Wednesday after Morgan Stanley raised their price target on the stock from $334.00 to $395.00. Morgan Stanley currently has an overweight rating on the stock. Curtiss-Wright traded as high as $380.59 and last traded at $378.34, with a volume of 7795 shares trading hands. The stock had previously closed at $360.37.

A number of other equities research analysts also recently weighed in on CW. Truist Financial raised their target price on shares of Curtiss-Wright from $304.00 to $333.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. Robert W. Baird lifted their price target on shares of Curtiss-Wright from $300.00 to $312.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $318.00 to $361.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Alembic Global Advisors initiated coverage on shares of Curtiss-Wright in a report on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 price target on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus price target of $362.60.

Insider Activity

In other news, Director Glenda J. Minor sold 500 shares of Curtiss-Wright stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $302.80, for a total value of $151,400.00. Following the completion of the transaction, the director now owns 1,382 shares of the company’s stock, valued at $418,469.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP John C. Watts sold 412 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $359.55, for a total transaction of $148,134.60. Following the completion of the transaction, the vice president now directly owns 4,183 shares in the company, valued at approximately $1,503,997.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Glenda J. Minor sold 500 shares of the business’s 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 owns 1,382 shares of the company’s stock, valued at approximately $418,469.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tsfg LLC grew its holdings in shares of Curtiss-Wright by 191.4% in the third quarter. Tsfg LLC now owns 102 shares of the aerospace company’s stock valued at $34,000 after purchasing an additional 67 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Curtiss-Wright by 5,050.0% in the second quarter. Versant Capital Management Inc now owns 103 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 101 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Curtiss-Wright by 303.8% in the third quarter. UMB Bank n.a. now owns 105 shares of the aerospace company’s stock valued at $35,000 after purchasing an additional 79 shares in the last quarter. GPS Wealth Strategies Group LLC purchased a new position in shares of Curtiss-Wright in the second quarter valued at $30,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Curtiss-Wright by 1,933.3% in the first quarter. EverSource Wealth Advisors LLC now owns 122 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 116 shares in the last quarter. 82.71% of the stock is currently owned by institutional investors.

Curtiss-Wright Stock Performance

The stock has a market capitalization of $14.08 billion, a PE ratio of 34.10 and a beta of 1.17. The business’s fifty day moving average is $331.53 and its two-hundred day moving average is $297.08. 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 (NYSE:CW) last released its earnings results 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 17.21% and a net margin of 13.20%. The business had revenue of $785.00 million during the quarter, compared to the consensus estimate of $735.82 million. During the same period last year, the company earned $2.15 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Curtiss-Wright Co. will post 10.66 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 27th were issued a $0.21 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.84 annualized dividend and a dividend yield of 0.23%. Curtiss-Wright’s payout ratio is currently 7.95%.

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.