Curtiss-Wright (NYSE:CW) Price Target Cut to $674.00 by Analysts at Guggenheim

Curtiss-Wright (NYSE:CW) had its price target reduced by Guggenheim from $786.00 to $674.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

CW has been the topic of a number of other reports. Wall Street Zen lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Stifel Nicolaus cut their target price on shares of Curtiss-Wright from $700.00 to $518.00 and set a “hold” rating on the stock in a report on Monday, October 19th. Morgan Stanley reduced their price target on shares of Curtiss-Wright from $860.00 to $625.00 and set an “overweight” rating for the company in a research report on Friday, October 16th. Weiss Ratings cut shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Finally, Piper Sandler lowered their price objective on shares of Curtiss-Wright from $665.00 to $586.00 and set a “neutral” rating on the stock in a research report on Friday, October 23rd. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Curtiss-Wright has a consensus rating of “Moderate Buy” and an average target price of $657.12.

Curtiss-Wright Stock Up 7.0%

Shares of CW traded up $30.33 during mid-day trading on Friday, reaching $464.20. The company’s stock had a trading volume of 642,830 shares, compared to its average volume of 408,451. Curtiss-Wright has a 12-month low of $432.70 and a 12-month high of $808.16. The stock has a market cap of $17.14 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.02 and a beta of 0.94. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.60 and a quick ratio of 1.12. The company’s 50 day moving average is $525.29 and its 200 day moving average is $663.50.

Curtiss-Wright (NYSE:CW) last posted its earnings results on Wednesday, November 4th. The aerospace company reported $3.94 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.18. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%. The firm had revenue of $953.00 million during the quarter, compared to analysts’ expectations of $935.09 million. During the same quarter in the previous year, the business earned $3.31 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Curtiss-Wright will post 15.33 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Friday, September 25th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, September 25th. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 0.2%. Curtiss-Wright’s payout ratio is presently 7.16%.

Insider Transactions at Curtiss-Wright

In related news, Director Larry D. Wyche sold 100 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the sale, the director owned 1,414 shares in the company, valued at $843,790.36. This trade represents a 6.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John C. Watts sold 1,035 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $619.46, for a total value of $641,141.10. Following the completion of the sale, the executive vice president directly owned 2,736 shares in the company, valued at $1,694,842.56. This represents a 27.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Curtiss-Wright

Several institutional investors and hedge funds have recently added to or reduced their stakes in CW. AIA Group Ltd boosted its stake in shares of Curtiss-Wright by 0.6% in the first quarter. AIA Group Ltd now owns 3,412 shares of the aerospace company’s stock valued at $2,324,000 after buying an additional 19 shares in the last quarter. Verus Capital Partners LLC raised its position in Curtiss-Wright by 2.1% in the third quarter. Verus Capital Partners LLC now owns 995 shares of the aerospace company’s stock worth $541,000 after acquiring an additional 20 shares in the last quarter. Parallel Advisors LLC raised its position in Curtiss-Wright by 10.5% in the first quarter. Parallel Advisors LLC now owns 305 shares of the aerospace company’s stock worth $208,000 after acquiring an additional 29 shares in the last quarter. Cooper Financial Group lifted its holdings in Curtiss-Wright by 9.3% in the third quarter. Cooper Financial Group now owns 376 shares of the aerospace company’s stock valued at $204,000 after acquiring an additional 32 shares during the period. Finally, Greenline Wealth Management LLC lifted its holdings in Curtiss-Wright by 9.9% in the first quarter. Greenline Wealth Management LLC now owns 366 shares of the aerospace company’s stock valued at $250,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 82.71% of the company’s stock.

Trending Headlines about Curtiss-Wright

Here are the key news stories impacting Curtiss-Wright this week:

• Positive Sentiment: Third-quarter adjusted earnings were $3.94 per share, above the $3.76 consensus, and revenue of $953 million topped estimates of $935 million, rising 9.6% year over year. The company raised its full-year sales-growth outlook to 8%–10%; backlog reached a record $4.6 billion, up 12% year to date. Curtiss-Wright Q3 results and raised guidance
• Positive Sentiment: Curtiss-Wright also won $225 million in U.S. Navy contracts, adding to its defense-related business prospects. Curtiss-Wright wins $225 million in U.S. Navy contracts
• Neutral Sentiment: Guggenheim lowered its price target from $786 to $674 but kept a Buy rating, indicating continued optimism despite a reduced valuation estimate. Guggenheim rating update
• Negative Sentiment: Piper Sandler cut its target from $586 to $544 and maintained a Neutral rating, signaling more cautious near-term expectations. Piper Sandler rating update

Curtiss-Wright Company Profile

Curtiss-Wright Corporation is a diversified industrial company that develops and manufactures engineered products and provides services for the aerospace, defense, power-generation and general industrial markets. Its offerings include actuation and control systems, sensors, valves and pumps, and embedded computing and electronics.

The company serves customers around the world, including aircraft manufacturers and operators, defense contractors, government agencies, and commercial nuclear power providers.