Curtiss-Wright (NYSE:CW) Downgraded to Buy at StockNews.com

StockNews.com cut shares of Curtiss-Wright (NYSE:CW) from a strong-buy rating to a buy rating in a research report released on Monday morning.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Curtiss-Wright from $310.00 to $318.00 and gave the company a buy rating in a report on Thursday, July 18th. Robert W. Baird increased their price objective on shares of Curtiss-Wright from $300.00 to $312.00 and gave the company an outperform rating in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $307.50.

Curtiss-Wright Stock Up 0.4 %

Shares of CW stock opened at $326.13 on Monday. Curtiss-Wright has a fifty-two week low of $190.64 and a fifty-two week high of $333.73. The firm has a market capitalization of $12.49 billion, a PE ratio of 33.59 and a beta of 1.18. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.42 and a current ratio of 2.05. The stock’s 50-day simple moving average is $299.94 and its 200-day simple moving average is $277.57.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, August 7th. The aerospace company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.43. Curtiss-Wright had a net margin of 13.05% and a return on equity of 17.07%. The company had revenue of $785.00 million for the quarter, compared to the consensus estimate of $735.82 million. During the same quarter in the prior year, the company earned $2.15 EPS. Curtiss-Wright’s quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts expect that Curtiss-Wright will post 10.55 earnings per share for the current year.

Curtiss-Wright Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.84 annualized dividend and a yield of 0.26%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 8.65%.

Insider Activity

In related news, Director Glenda J. Minor sold 500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $302.80, for a total transaction of $151,400.00. Following the transaction, the director now directly owns 1,382 shares in the company, valued at $418,469.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 120 shares of company stock worth $27,914 over the last three months. Insiders own 0.67% of the company’s stock.

Institutional Trading of Curtiss-Wright

Large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Curtiss-Wright by 30,079.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 302,396 shares of the aerospace company’s stock valued at $81,943,000 after acquiring an additional 301,394 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Curtiss-Wright during the second quarter worth about $41,383,000. Public Employees Retirement Association of Colorado boosted its holdings in Curtiss-Wright by 1,901.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 150,377 shares of the aerospace company’s stock valued at $33,502,000 after purchasing an additional 142,863 shares during the last quarter. Global Alpha Capital Management Ltd. grew its stake in shares of Curtiss-Wright by 41.7% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 352,813 shares of the aerospace company’s stock valued at $90,299,000 after buying an additional 103,780 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Curtiss-Wright by 79.2% during the 2nd quarter. Van ECK Associates Corp now owns 196,760 shares of the aerospace company’s stock valued at $53,318,000 after buying an additional 86,955 shares during the period. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

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.