Curtiss-Wright (NYSE:CW) Shares Down 7.3% – Should You Sell?

Curtiss-Wright Co. (NYSE:CW) shares dropped 7.3% during trading on Thursday . The stock traded as low as $356.16 and last traded at $357.36. Approximately 250,550 shares changed hands during mid-day trading, an increase of 12% from the average daily volume of 222,732 shares. The stock had previously closed at $385.42.

Analysts Set New Price Targets

CW has been the subject of a number of recent analyst reports. Alembic Global Advisors began coverage on shares of Curtiss-Wright in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 price objective for the company. Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $318.00 to $361.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Robert W. Baird increased their target price on Curtiss-Wright from $300.00 to $312.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Morgan Stanley raised their price target on shares of Curtiss-Wright from $334.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Truist Financial lifted their price target on shares of Curtiss-Wright from $304.00 to $333.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. One investment 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 a consensus rating of “Moderate Buy” and a consensus target price of $362.60.

Curtiss-Wright Price Performance

The company’s 50 day simple moving average is $340.29 and its two-hundred day simple moving average is $302.26. The stock has a market capitalization of $13.71 billion, a P/E ratio of 36.46 and a beta of 1.17. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.98 and a quick ratio of 1.39.

Curtiss-Wright Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 22nd will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Friday, November 22nd. Curtiss-Wright’s payout ratio is presently 7.95%.

Insider Buying and Selling

In related news, VP John C. Watts sold 412 shares of Curtiss-Wright stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $359.55, for a total value of $148,134.60. Following the completion of the sale, the vice president now directly owns 4,183 shares in the company, valued at $1,503,997.65. This trade represents a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Curtiss-Wright news, VP John C. Watts sold 412 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $359.55, for a total transaction of $148,134.60. Following the completion of the sale, the vice president now owns 4,183 shares in the company, valued at approximately $1,503,997.65. The trade was a 8.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Glenda J. Minor sold 500 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $302.80, for a total value of $151,400.00. Following the completion of the transaction, the director now owns 1,382 shares in the company, valued at $418,469.60. This represents a 26.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Curtiss-Wright

Several institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc increased its holdings in Curtiss-Wright by 5,050.0% during the 2nd quarter. Versant Capital Management Inc now owns 103 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 101 shares in the last quarter. GPS Wealth Strategies Group LLC bought a new position in Curtiss-Wright in the second quarter valued at $30,000. EverSource Wealth Advisors LLC increased its stake in Curtiss-Wright by 1,933.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 122 shares of the aerospace company’s stock valued at $31,000 after buying an additional 116 shares during the last quarter. Tsfg LLC lifted its position in Curtiss-Wright by 191.4% during the 3rd quarter. Tsfg LLC now owns 102 shares of the aerospace company’s stock worth $34,000 after buying an additional 67 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in shares of Curtiss-Wright by 303.8% during the 3rd quarter. UMB Bank n.a. now owns 105 shares of the aerospace company’s stock worth $35,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

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.