Curtiss-Wright Co. (NYSE:CW) to Issue Quarterly Dividend of $0.20

Curtiss-Wright Co. (NYSE:CW) announced a quarterly dividend on Wednesday, September 13th, Zacks reports. Stockholders of record on Friday, September 29th will be paid a dividend of 0.20 per share by the aerospace company on Thursday, October 12th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, September 28th.

Curtiss-Wright has increased its dividend payment by an average of 4.4% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Curtiss-Wright has a dividend payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Curtiss-Wright to earn $9.86 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 8.1%.

Curtiss-Wright Price Performance

CW opened at $201.12 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.36 and a current ratio of 2.11. The firm has a 50-day moving average of $198.64 and a 200 day moving average of $180.86. Curtiss-Wright has a fifty-two week low of $136.21 and a fifty-two week high of $209.77. The firm has a market cap of $7.70 billion, a P/E ratio of 24.20 and a beta of 1.25.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.18. Curtiss-Wright had a net margin of 11.77% and a return on equity of 16.58%. The company had revenue of $704.40 million for the quarter, compared to analyst estimates of $648.77 million. On average, research analysts expect that Curtiss-Wright will post 9.07 EPS for the current year.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, VP John C. Watts sold 224 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $207.63, for a total transaction of $46,509.12. Following the sale, the vice president now directly owns 3,523 shares in the company, valued at approximately $731,480.49. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Curtiss-Wright news, Director David Charles Adams sold 4,660 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $190.00, for a total value of $885,400.00. Following the completion of the sale, the director now owns 41,559 shares in the company, valued at approximately $7,896,210. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John C. Watts sold 224 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $207.63, for a total value of $46,509.12. Following the completion of the transaction, the vice president now directly owns 3,523 shares of the company’s stock, valued at approximately $731,480.49. The disclosure for this sale can be found here. In the last quarter, insiders purchased 219 shares of company stock valued at $34,039 and sold 6,948 shares valued at $1,324,069. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC raised its position in shares of Curtiss-Wright by 10.8% during the second quarter. Nuveen Asset Management LLC now owns 600,148 shares of the aerospace company’s stock valued at $110,223,000 after buying an additional 58,691 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in Curtiss-Wright by 95.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 836 shares of the aerospace company’s stock worth $154,000 after purchasing an additional 408 shares in the last quarter. Woodline Partners LP bought a new position in shares of Curtiss-Wright during the 2nd quarter valued at about $8,367,000. XTX Topco Ltd grew its position in shares of Curtiss-Wright by 52.8% during the second quarter. XTX Topco Ltd now owns 2,266 shares of the aerospace company’s stock valued at $416,000 after purchasing an additional 783 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Curtiss-Wright by 7.6% in the second quarter. Goldman Sachs Group Inc. now owns 147,151 shares of the aerospace company’s stock worth $27,026,000 after purchasing an additional 10,363 shares during the last quarter. 80.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley upgraded shares of Curtiss-Wright from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $188.00 to $229.00 in a research report on Monday, August 7th. William Blair assumed coverage on shares of Curtiss-Wright in a report on Friday, May 19th. They issued an “outperform” rating on the stock. StockNews.com upgraded Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Stifel Nicolaus lifted their price target on Curtiss-Wright from $200.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, Robert W. Baird boosted their price target on shares of Curtiss-Wright from $200.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, August 4th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Curtiss-Wright has an average rating of “Buy” and an average target price of $208.40.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services to the aerospace, defense, general industrial, and power generation markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.