Curtiss-Wright Corporation (CW) to Issue Quarterly Dividend of $0.15 on October 20th
Curtiss-Wright Corporation (NYSE:CW) announced a quarterly dividend on Wednesday, September 13th, RTT News reports. Stockholders of record on Friday, October 6th will be paid a dividend of 0.15 per share by the aerospace company on Friday, October 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, October 5th. This is a positive change from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13.
Curtiss-Wright Corporation has raised its dividend by an average of 10.1% per year over the last three years and has increased its dividend every year for the last 5 years. Curtiss-Wright Corporation has a payout ratio of 13.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Curtiss-Wright Corporation to earn $4.95 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 12.1%.
Curtiss-Wright Corporation (NYSE CW) opened at 105.05 on Wednesday. The firm’s 50-day moving average is $99.11 and its 200-day moving average is $93.64. The company has a market capitalization of $4.64 billion, a P/E ratio of 23.83 and a beta of 1.25. Curtiss-Wright Corporation has a 1-year low of $82.77 and a 1-year high of $107.61.
Curtiss-Wright Corporation (NYSE:CW) last released its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.16. The company had revenue of $567.70 million for the quarter, compared to the consensus estimate of $546.73 million. Curtiss-Wright Corporation had a return on equity of 14.79% and a net margin of 9.14%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. Equities research analysts predict that Curtiss-Wright Corporation will post $4.54 EPS for the current year.
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In related news, VP Paul J. Ferdenzi sold 6,907 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $106.18, for a total value of $733,385.26. Following the completion of the transaction, the vice president now owns 19,467 shares of the company’s stock, valued at $2,067,006.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director S Marce Fuller sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $96.16, for a total transaction of $125,008.00. Following the completion of the transaction, the director now directly owns 14,960 shares of the company’s stock, valued at approximately $1,438,553.60. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several research analysts have recently issued reports on CW shares. Zacks Investment Research lowered shares of Curtiss-Wright Corporation from a “hold” rating to a “sell” rating in a research note on Monday. Stifel Nicolaus assumed coverage on shares of Curtiss-Wright Corporation in a research note on Monday, September 18th. They issued a “hold” rating and a $100.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $107.40.
About Curtiss-Wright Corporation
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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