Curtiss-Wright (NYSE:CW) Posts Earnings Results, Beats Estimates By $0.14 EPS

Curtiss-Wright (NYSE:CW) issued its quarterly earnings data on Wednesday. The aerospace company reported $3.79 earnings per share for the quarter, topping analysts’ consensus estimates of $3.65 by $0.14, Zacks reports. Curtiss-Wright had a return on equity of 18.82% and a net margin of 13.78%.

Curtiss-Wright Stock Performance

Shares of NYSE CW traded down $10.42 during trading on Wednesday, reaching $635.08. 363,289 shares of the company traded hands, compared to its average volume of 242,866. Curtiss-Wright has a 12-month low of $266.88 and a 12-month high of $683.09. The company has a current ratio of 1.75, a quick ratio of 1.17 and a debt-to-equity ratio of 0.38. The stock has a market cap of $23.42 billion, a P/E ratio of 51.76, a PEG ratio of 2.98 and a beta of 0.93. The firm’s fifty day simple moving average is $600.37 and its 200 day simple moving average is $553.37.

Curtiss-Wright Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be paid a dividend of $0.24 per share. The ex-dividend date is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.2%. Curtiss-Wright’s dividend payout ratio (DPR) is presently 7.82%.

Insiders Place Their Bets

In related news, VP Robert F. Freda sold 418 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $626.95, for a total value of $262,065.10. Following the completion of the transaction, the vice president directly owned 5,187 shares in the company, valued at $3,251,989.65. The trade was a 7.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lynn M. Bamford sold 9,327 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $626.45, for a total transaction of $5,842,899.15. Following the completion of the transaction, the chief executive officer owned 46,192 shares of the company’s stock, valued at approximately $28,936,978.40. This trade represents a 16.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 17,269 shares of company stock worth $10,797,098. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of Curtiss-Wright

A number of institutional investors have recently made changes to their positions in CW. Sivia Capital Partners LLC acquired a new stake in shares of Curtiss-Wright in the second quarter valued at about $235,000. Vise Technologies Inc. acquired a new position in Curtiss-Wright during the fourth quarter worth about $300,000. Certuity LLC purchased a new stake in Curtiss-Wright during the 3rd quarter valued at about $311,000. Cibc World Market Inc. acquired a new stake in Curtiss-Wright in the 4th quarter valued at about $315,000. Finally, Equitable Holdings Inc. purchased a new position in Curtiss-Wright in the 3rd quarter worth approximately $316,000. 82.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on CW shares. Weiss Ratings restated a “buy (b)” rating on shares of Curtiss-Wright in a research note on Monday, December 22nd. Citigroup increased their price objective on Curtiss-Wright from $607.00 to $661.00 and gave the company a “neutral” rating in a report on Tuesday, January 13th. Stifel Nicolaus set a $625.00 target price on Curtiss-Wright in a research report on Friday, January 23rd. Wall Street Zen upgraded Curtiss-Wright from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, Truist Financial set a $603.00 price target on Curtiss-Wright in a report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Curtiss-Wright has a consensus rating of “Moderate Buy” and an average target price of $612.33.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.