Zacks Investment Research upgraded shares of Curtiss-Wright Corporation (NYSE:CW) from a sell rating to a hold rating in a research note published on Monday.
According to Zacks, “Curtiss-Wright Corporation ( CW ) 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. The Commercial/Industrial segment’s products include electronic throttle control devices and transmission shifters, electro-mechanical actuation control components, valves, and surface technology services. The Defense segment’s products include commercial off-the-shelf (COTS) embedded computing board level modules, turret aiming and stabilization products, weapons handling systems, avionics and electronics, flight test equipment, and aircraft data management solutions. The Power segment’s products include a range of hardware, pumps, valves, fastening systems, specialized containment doors, airlock hatches and spent fuel management products. “
Several other equities analysts have also commented on the stock. Deutsche Bank AG restated a buy rating and issued a $125.00 price objective on shares of Curtiss-Wright Corporation in a report on Friday, October 6th. Stifel Nicolaus began coverage on shares of Curtiss-Wright Corporation in a report on Monday, September 18th. They issued a hold rating and a $100.00 price objective on the stock. Finally, BidaskClub upgraded shares of Curtiss-Wright Corporation from a sell rating to a hold rating in a report on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $111.60.
Shares of Curtiss-Wright Corporation (CW) opened at 112.05 on Monday. Curtiss-Wright Corporation has a 52 week low of $82.77 and a 52 week high of $112.32. The company has a market cap of $4.95 billion, a P/E ratio of 25.42 and a beta of 1.25. The firm has a 50-day moving average of $102.03 and a 200 day moving average of $94.46.
Curtiss-Wright Corporation (NYSE:CW) last posted its earnings results on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.16. The company had revenue of $567.70 million for the quarter, compared to analyst estimates of $546.73 million. Curtiss-Wright Corporation had a net margin of 9.14% and a return on equity of 14.79%. During the same period in the previous year, the business posted $0.88 EPS. Curtiss-Wright Corporation’s revenue was up 6.6% on a year-over-year basis. Equities analysts expect that Curtiss-Wright Corporation will post $4.54 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be issued a $0.15 dividend. This is a positive change from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, October 5th. Curtiss-Wright Corporation’s dividend payout ratio is currently 13.61%.
In related news, VP Paul J. Ferdenzi sold 6,907 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $106.18, for a total transaction of $733,385.26. Following the sale, the vice president now directly owns 19,467 shares of the company’s stock, valued at approximately $2,067,006.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director S Marce Fuller sold 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total transaction of $125,008.00. Following the sale, the director now directly owns 14,960 shares in the company, valued at $1,438,553.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,547 shares of company stock worth $1,111,113. Company insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CW. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Curtiss-Wright Corporation by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,656 shares of the aerospace company’s stock worth $152,000 after buying an additional 143 shares during the period. Harbour Capital Advisors LLC increased its stake in Curtiss-Wright Corporation by 93.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 16,520 shares of the aerospace company’s stock worth $180,000 after buying an additional 7,970 shares during the period. Burney Co. purchased a new stake in Curtiss-Wright Corporation during the 2nd quarter worth approximately $203,000. Public Employees Retirement System of Ohio increased its stake in Curtiss-Wright Corporation by 12.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,392 shares of the aerospace company’s stock worth $220,000 after buying an additional 256 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new stake in Curtiss-Wright Corporation during the 1st quarter worth approximately $233,000. 76.18% of the stock is currently owned by hedge funds and other institutional investors.
Curtiss-Wright Corporation 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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