Curtiss-Wright Corporation (NYSE:CW) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 825,256 shares, an increase of 46.0% from the November 30th total of 565,430 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average trading volume of 293,883 shares, the days-to-cover ratio is presently 2.8 days.
Curtiss-Wright (NYSE:CW) opened at $123.30 on Friday. The company has a market capitalization of $5,440.00, a price-to-earnings ratio of 25.37, a PEG ratio of 1.92 and a beta of 1.26. Curtiss-Wright has a fifty-two week low of $82.77 and a fifty-two week high of $125.00. The company has a current ratio of 2.08, a quick ratio of 1.48 and a debt-to-equity ratio of 0.55.
Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, October 25th. The aerospace company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.21. The firm had revenue of $567.90 million for the quarter, compared to analyst estimates of $539.28 million. Curtiss-Wright had a return on equity of 15.60% and a net margin of 9.70%. Curtiss-Wright’s revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.02 earnings per share. sell-side analysts predict that Curtiss-Wright will post 4.75 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Wednesday, November 29th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Tuesday, November 28th. Curtiss-Wright’s payout ratio is currently 12.35%.
Several equities analysts have recently commented on CW shares. Wells Fargo & Co increased their target price on Curtiss-Wright from $100.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Zacks Investment Research cut Curtiss-Wright from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Robert W. Baird initiated coverage on Curtiss-Wright in a research note on Tuesday, December 5th. They set an “outperform” rating and a $149.00 price objective on the stock. Bank of America upgraded Curtiss-Wright from a “neutral” rating to a “buy” rating and set a $136.00 price objective on the stock in a research note on Monday, October 30th. Finally, Deutsche Bank restated a “buy” rating and set a $125.00 price objective on shares of Curtiss-Wright in a research note on Friday, October 6th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Curtiss-Wright currently has a consensus rating of “Buy” and a consensus target price of $129.86.
In other Curtiss-Wright news, VP Paul J. Ferdenzi sold 2,651 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $115.00, for a total value of $304,865.00. Following the completion of the sale, the vice president now owns 19,835 shares of the company’s stock, valued at $2,281,025. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Albert E. Smith sold 1,700 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $122.35, for a total transaction of $207,995.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,941 shares of company stock valued at $6,263,846. Corporate insiders own 1.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors acquired a new stake in Curtiss-Wright during the 2nd quarter worth about $42,330,000. Boston Partners boosted its position in Curtiss-Wright by 44.8% during the 3rd quarter. Boston Partners now owns 1,361,557 shares of the aerospace company’s stock worth $142,337,000 after acquiring an additional 421,332 shares during the period. Voya Investment Management LLC boosted its position in Curtiss-Wright by 137.8% during the 2nd quarter. Voya Investment Management LLC now owns 584,459 shares of the aerospace company’s stock worth $53,641,000 after acquiring an additional 338,718 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Curtiss-Wright by 51.0% during the 3rd quarter. Prudential Financial Inc. now owns 494,748 shares of the aerospace company’s stock valued at $51,721,000 after buying an additional 167,135 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Curtiss-Wright during the 3rd quarter valued at about $16,027,000. 76.17% of the stock is currently owned by hedge funds and other institutional investors.
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Curtiss-Wright Company Profile
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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