Curtiss-Wright (NYSE:CW) Reaches New 1-Year High on Analyst Upgrade

Curtiss-Wright Co. (NYSE:CW) shares hit a new 52-week high during trading on Wednesday after Morgan Stanley raised their price target on the stock from $334.00 to $395.00. Morgan Stanley currently has an overweight rating on the stock. Curtiss-Wright traded as high as $380.59 and last traded at $378.34, with a volume of 7795 shares traded. The stock had previously closed at $360.37.

CW has been the topic of a number of other research reports. Alembic Global Advisors initiated coverage on Curtiss-Wright in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 target price on the stock. Stifel Nicolaus increased their price target on shares of Curtiss-Wright from $318.00 to $361.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Robert W. Baird upped their price objective on shares of Curtiss-Wright from $300.00 to $312.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. StockNews.com downgraded Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 23rd. Finally, Truist Financial raised their price objective on Curtiss-Wright from $304.00 to $333.00 and gave the company a “hold” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $362.60.

Insider Buying and Selling

In other news, VP John C. Watts sold 412 shares of Curtiss-Wright stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $359.55, for a total value of $148,134.60. Following the completion of the transaction, the vice president now owns 4,183 shares of the company’s stock, valued at $1,503,997.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Curtiss-Wright news, VP John C. Watts sold 412 shares of Curtiss-Wright stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $359.55, for a total value of $148,134.60. Following the completion of the sale, the vice president now owns 4,183 shares in the company, valued at $1,503,997.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenda J. Minor sold 500 shares of Curtiss-Wright stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $302.80, for a total transaction of $151,400.00. Following the completion of the sale, the director now owns 1,382 shares of the company’s stock, valued at $418,469.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Curtiss-Wright

Institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV grew its holdings in Curtiss-Wright by 8.6% during the 3rd quarter. KBC Group NV now owns 1,025 shares of the aerospace company’s stock worth $337,000 after acquiring an additional 81 shares during the last quarter. Freemont Management S.A. boosted its stake in shares of Curtiss-Wright by 154.5% in the 3rd quarter. Freemont Management S.A. now owns 5,600 shares of the aerospace company’s stock valued at $1,841,000 after purchasing an additional 3,400 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Curtiss-Wright in the 3rd quarter valued at $542,000. Oppenheimer Asset Management Inc. boosted its stake in shares of Curtiss-Wright by 487.9% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 9,277 shares of the aerospace company’s stock valued at $3,049,000 after purchasing an additional 7,699 shares during the last quarter. Finally, Pinnacle Financial Partners Inc bought a new stake in shares of Curtiss-Wright in the 3rd quarter valued at $222,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Stock Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 1.98. The stock’s 50 day moving average price is $331.53 and its 200 day moving average price is $297.08. The company has a market capitalization of $14.08 billion, a P/E ratio of 34.10 and a beta of 1.17.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Wednesday, August 7th. The aerospace company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.24 by $0.43. The company had revenue of $785.00 million during the quarter, compared to the consensus estimate of $735.82 million. Curtiss-Wright had a net margin of 13.20% and a return on equity of 17.21%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.15 earnings per share. As a group, equities analysts expect that Curtiss-Wright Co. will post 10.66 EPS for the current year.

Curtiss-Wright Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.84 dividend on an annualized basis and a yield of 0.23%. Curtiss-Wright’s dividend payout ratio is presently 7.95%.

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.