Curtiss-Wright (NYSE:CW) Sets New 52-Week High on Earnings Beat

Shares of Curtiss-Wright Co. (NYSE:CW) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $263.24 and last traded at $261.98, with a volume of 47386 shares. The stock had previously closed at $256.98.

The aerospace company reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.24. Curtiss-Wright had a return on equity of 16.61% and a net margin of 12.46%. The firm had revenue of $713.17 million for the quarter, compared to analysts’ expectations of $664.01 million. During the same quarter in the prior year, the firm earned $1.53 EPS. Curtiss-Wright’s quarterly revenue was up 13.0% on a year-over-year basis.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.30%. The ex-dividend date was Wednesday, March 27th. Curtiss-Wright’s dividend payout ratio (DPR) is 8.70%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com lowered Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 27th. Robert W. Baird boosted their target price on Curtiss-Wright from $246.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Truist Financial reiterated a “hold” rating and set a $240.00 price objective (down from $250.00) on shares of Curtiss-Wright in a research report on Monday, March 25th. Finally, Stifel Nicolaus upped their price objective on shares of Curtiss-Wright from $255.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $260.25.

Insiders Place Their Bets

In other news, VP Paul J. Ferdenzi sold 2,500 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $250.00, for a total transaction of $625,000.00. Following the transaction, the vice president now directly owns 15,942 shares in the company, valued at approximately $3,985,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Lynn M. Bamford sold 2,620 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $243.60, for a total transaction of $638,232.00. Following the completion of the transaction, the chief executive officer now owns 35,773 shares of the company’s stock, valued at $8,714,302.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul J. Ferdenzi sold 2,500 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $250.00, for a total transaction of $625,000.00. Following the transaction, the vice president now directly owns 15,942 shares of the company’s stock, valued at approximately $3,985,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,451 shares of company stock valued at $3,030,512. Company insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in shares of Curtiss-Wright by 0.6% in the first quarter. Nordea Investment Management AB now owns 31,678 shares of the aerospace company’s stock worth $8,102,000 after purchasing an additional 196 shares in the last quarter. Hanlon Investment Management Inc. grew its stake in Curtiss-Wright by 30.2% during the first quarter. Hanlon Investment Management Inc. now owns 1,365 shares of the aerospace company’s stock valued at $349,000 after acquiring an additional 317 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Curtiss-Wright by 8.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,491 shares of the aerospace company’s stock worth $638,000 after buying an additional 194 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Curtiss-Wright by 1.7% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,685 shares of the aerospace company’s stock worth $687,000 after buying an additional 45 shares in the last quarter. Finally, Diversify Advisory Services LLC purchased a new position in Curtiss-Wright in the 1st quarter worth approximately $432,000. 82.71% of the stock is owned by institutional investors.

Curtiss-Wright Trading Up 2.8 %

The stock has a market capitalization of $10.11 billion, a P/E ratio of 27.93 and a beta of 1.18. The company has a current ratio of 2.13, a quick ratio of 1.50 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average price is $247.91 and its two-hundred day moving average price is $227.81.

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.