A number of other equities research analysts have also recently commented on the company. Stifel Nicolaus raised their price target on Curtiss-Wright from $200.00 to $204.00 and gave the company a buy rating in a report on Wednesday, July 19th. Truist Financial lifted their target price on Curtiss-Wright from $215.00 to $225.00 and gave the stock a buy rating in a report on Friday, November 3rd. Morgan Stanley raised Curtiss-Wright from an equal weight rating to an overweight rating and lifted their target price for the stock from $188.00 to $229.00 in a report on Monday, August 7th. Finally, Robert W. Baird lifted their target price on Curtiss-Wright from $200.00 to $228.00 and gave the stock an outperform rating in a report on Friday, August 4th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Curtiss-Wright has an average rating of Buy and an average price target of $221.50.
Curtiss-Wright Price Performance
Curtiss-Wright (NYSE:CW – Get Free Report) last posted its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.12. The business had revenue of $724.33 million for the quarter, compared to analysts’ expectations of $682.88 million. Curtiss-Wright had a return on equity of 16.85% and a net margin of 12.20%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $2.07 earnings per share. As a group, analysts forecast that Curtiss-Wright will post 9.14 EPS for the current fiscal year.
Curtiss-Wright Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $0.80 annualized dividend and a yield of 0.38%. Curtiss-Wright’s payout ratio is currently 8.98%.
Institutional Investors Weigh In On Curtiss-Wright
Several large investors have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in Curtiss-Wright by 6.3% during the third quarter. Creative Planning now owns 2,279 shares of the aerospace company’s stock worth $446,000 after acquiring an additional 135 shares during the last quarter. Orion Capital Management LLC purchased a new position in shares of Curtiss-Wright during the third quarter valued at approximately $49,000. Tudor Investment Corp Et Al purchased a new position in shares of Curtiss-Wright during the third quarter valued at approximately $4,790,000. Morgan Stanley boosted its position in shares of Curtiss-Wright by 17.6% during the third quarter. Morgan Stanley now owns 307,869 shares of the aerospace company’s stock valued at $60,229,000 after buying an additional 45,997 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of Curtiss-Wright during the third quarter valued at approximately $317,000. 80.82% of the stock is owned by institutional investors.
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.
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