Curtiss-Wright (NYSE:CW) Hits New 52-Week High After Strong Earnings

Shares of Curtiss-Wright Co. (NYSE:CW) hit a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $263.24 and last traded at $261.98, with a volume of 47386 shares changing hands. The stock had previously closed at $256.98.

The aerospace company reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.24. Curtiss-Wright had a net margin of 12.78% and a return on equity of 17.10%. The company had revenue of $713.17 million for the quarter, compared to analyst estimates of $664.01 million. During the same period last year, the business posted $1.53 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.30%. Curtiss-Wright’s payout ratio is 8.24%.

Wall Street Analyst Weigh In

CW has been the topic of several research reports. Stifel Nicolaus boosted their target price on Curtiss-Wright from $255.00 to $272.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Truist Financial boosted their price objective on shares of Curtiss-Wright from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Friday. Morgan Stanley raised their target price on shares of Curtiss-Wright from $260.00 to $284.00 and gave the company an “overweight” rating in a research report on Friday. Robert W. Baird upped their price objective on Curtiss-Wright from $246.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, StockNews.com downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 27th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Curtiss-Wright has an average rating of “Moderate Buy” and a consensus price target of $277.00.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, VP Paul J. Ferdenzi sold 2,500 shares of Curtiss-Wright stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $240.00, for a total value of $600,000.00. Following the transaction, the vice president now owns 17,383 shares in the company, valued at $4,171,920. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO K Christopher Farkas sold 2,736 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $240.16, for a total transaction of $657,077.76. Following the completion of the transaction, the chief financial officer now directly owns 9,172 shares in the company, valued at $2,202,747.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Paul J. Ferdenzi sold 2,500 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $240.00, for a total value of $600,000.00. Following the sale, the vice president now directly owns 17,383 shares in the company, valued at approximately $4,171,920. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,451 shares of company stock valued at $3,030,512. 0.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Curtiss-Wright by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 3,638,915 shares of the aerospace company’s stock worth $810,714,000 after purchasing an additional 46,954 shares during the last quarter. Invesco Ltd. raised its position in shares of Curtiss-Wright by 0.7% during the third quarter. Invesco Ltd. now owns 1,307,585 shares of the aerospace company’s stock worth $255,803,000 after acquiring an additional 8,470 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Curtiss-Wright by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 712,704 shares of the aerospace company’s stock worth $139,427,000 after acquiring an additional 2,784 shares during the period. Norges Bank bought a new stake in Curtiss-Wright in the fourth quarter valued at approximately $113,885,000. Finally, Global Alpha Capital Management Ltd. boosted its holdings in Curtiss-Wright by 27.0% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 249,033 shares of the aerospace company’s stock valued at $55,482,000 after acquiring an additional 52,880 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.

Curtiss-Wright Price Performance

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 business’s 50-day simple moving average is $248.39 and its two-hundred day simple moving average is $228.06. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 27.62 and a beta of 1.18.

Curtiss-Wright Company Profile

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.