Curtiss-Wright Co. (NYSE:CW) – Equities researchers at Truist Securiti raised their Q2 2021 EPS estimates for shares of Curtiss-Wright in a research report issued to clients and investors on Thursday, April 15th. Truist Securiti analyst M. Ciarmoli now anticipates that the aerospace company will post earnings of $1.52 per share for the quarter, up from their previous estimate of $1.48. Truist Securiti also issued estimates for Curtiss-Wright’s Q3 2021 earnings at $1.91 EPS and FY2022 earnings at $7.94 EPS.
CW has been the subject of several other reports. Robert W. Baird lowered Curtiss-Wright from an “outperform” rating to a “neutral” rating and set a $119.00 price objective for the company. in a research report on Thursday, January 7th. Zacks Investment Research downgraded Curtiss-Wright from a “hold” rating to a “sell” rating and set a $114.00 target price for the company. in a research note on Tuesday, February 2nd.
Curtiss-Wright (NYSE:CW) last announced its earnings results on Tuesday, February 23rd. The aerospace company reported $2.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.34 by $0.05. The business had revenue of $668.44 million during the quarter, compared to analyst estimates of $672.07 million. Curtiss-Wright had a return on equity of 16.15% and a net margin of 9.96%.
Large investors have recently modified their holdings of the company. Global Retirement Partners LLC raised its stake in shares of Curtiss-Wright by 1,215.0% during the fourth quarter. Global Retirement Partners LLC now owns 263 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 243 shares during the last quarter. Ellevest Inc. raised its stake in Curtiss-Wright by 301.2% in the fourth quarter. Ellevest Inc. now owns 329 shares of the aerospace company’s stock worth $38,000 after buying an additional 247 shares in the last quarter. Capital Asset Advisory Services LLC bought a new position in Curtiss-Wright in the fourth quarter worth about $42,000. CI Investments Inc. raised its stake in Curtiss-Wright by 168.0% in the fourth quarter. CI Investments Inc. now owns 394 shares of the aerospace company’s stock worth $46,000 after buying an additional 247 shares in the last quarter. Finally, Brand Asset Management Group Inc. raised its stake in Curtiss-Wright by 100.0% in the fourth quarter. Brand Asset Management Group Inc. now owns 504 shares of the aerospace company’s stock worth $59,000 after buying an additional 252 shares in the last quarter. 78.67% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Tom P. Quinly sold 1,477 shares of the company’s stock in a transaction on Friday, February 5th. The shares were sold at an average price of $113.34, for a total value of $167,403.18. Following the completion of the transaction, the chief operating officer now directly owns 40,346 shares in the company, valued at $4,572,815.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David Charles Adams sold 2,500 shares of the company’s stock in a transaction on Tuesday, April 6th. The stock was sold at an average price of $125.00, for a total transaction of $312,500.00. Following the completion of the transaction, the chairman now owns 61,240 shares of the company’s stock, valued at $7,655,000. The disclosure for this sale can be found here. Insiders have sold a total of 27,929 shares of company stock worth $3,322,834 in the last three months. Insiders own 0.73% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Tuesday, March 30th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 29th. This represents a $0.68 dividend on an annualized basis and a yield of 0.55%. Curtiss-Wright’s payout ratio is 9.35%.
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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