Curtiss-Wright (NYSE:CW) Downgraded by StockNews.com

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

CW has been the topic of a number of other reports. Robert W. Baird upped their target price on shares of Curtiss-Wright from $246.00 to $300.00 and gave the stock an outperform rating in a research note on Monday, April 8th. Truist Financial increased their price objective on shares of Curtiss-Wright from $252.00 to $270.00 and gave the company a hold rating in a research report on Wednesday, May 22nd. Morgan Stanley lifted their price objective on shares of Curtiss-Wright from $284.00 to $330.00 and gave the stock an overweight rating in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus increased their target price on Curtiss-Wright from $310.00 to $318.00 and gave the company a buy rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $304.50.

Curtiss-Wright Stock Performance

NYSE:CW opened at $275.39 on Wednesday. Curtiss-Wright has a 52 week low of $190.64 and a 52 week high of $297.53. The company has a fifty day simple moving average of $277.10 and a two-hundred day simple moving average of $257.56. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 0.40. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 28.36 and a beta of 1.18.

Curtiss-Wright (NYSE:CW) last released its earnings results on Wednesday, May 1st. The aerospace company reported $1.99 EPS for the quarter, topping the consensus estimate of $1.75 by $0.24. The firm had revenue of $713.17 million during the quarter, compared to analysts’ expectations of $664.01 million. Curtiss-Wright had a return on equity of 16.79% and a net margin of 12.78%. Curtiss-Wright’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 EPS. As a group, equities analysts anticipate that Curtiss-Wright will post 10.25 earnings per share for the current fiscal year.

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Monday, June 17th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Monday, June 17th. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.20. Curtiss-Wright’s payout ratio is currently 8.65%.

Insider Activity at Curtiss-Wright

In other news, COO Kevin Rayment sold 8,415 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $281.67, for a total value of $2,370,253.05. Following the completion of the sale, the chief operating officer now directly owns 19,914 shares of the company’s stock, valued at approximately $5,609,176.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Curtiss-Wright news, Director S Marce Fuller sold 5,300 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $281.04, for a total value of $1,489,512.00. Following the completion of the transaction, the director now directly owns 25,770 shares of the company’s stock, valued at $7,242,400.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Kevin Rayment sold 8,415 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $281.67, for a total value of $2,370,253.05. Following the sale, the chief operating officer now directly owns 19,914 shares in the company, valued at approximately $5,609,176.38. The disclosure for this sale can be found here. Insiders have purchased 120 shares of company stock valued at $27,914 in the last ninety days. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Curtiss-Wright

Hedge funds have recently bought and sold shares of the company. Versant Capital Management Inc increased its position in shares of Curtiss-Wright by 5,050.0% in the second quarter. Versant Capital Management Inc now owns 103 shares of the aerospace company’s stock valued at $28,000 after buying an additional 101 shares in the last quarter. GPS Wealth Strategies Group LLC acquired a new stake in Curtiss-Wright in the 2nd quarter valued at about $30,000. EverSource Wealth Advisors LLC increased its holdings in Curtiss-Wright by 1,933.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 122 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 116 shares in the last quarter. Creekmur Asset Management LLC acquired a new position in Curtiss-Wright during the fourth quarter worth about $32,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Curtiss-Wright by 53.6% in the fourth quarter. Venturi Wealth Management LLC now owns 149 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. 82.71% of the stock is owned by hedge funds and other institutional investors.

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.