Curtiss-Wright Co. (NYSE:CW) to Issue $0.21 Quarterly Dividend

Curtiss-Wright Co. (NYSE:CW) announced a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Stockholders of record on Thursday, March 27th will be given a dividend of 0.21 per share by the aerospace company on Monday, April 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, March 27th.

Curtiss-Wright has raised its dividend payment by an average of 5.3% annually over the last three years. Curtiss-Wright has a dividend payout ratio of 6.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Curtiss-Wright to earn $11.81 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 7.1%.

Curtiss-Wright Stock Down 0.2 %

NYSE:CW traded down $0.60 on Thursday, reaching $350.33. The stock had a trading volume of 217,563 shares, compared to its average volume of 277,290. The company has a current ratio of 1.98, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $360.70 and a 200 day moving average of $338.60. The stock has a market cap of $13.29 billion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 2.47 and a beta of 1.19. Curtiss-Wright has a 12-month low of $224.18 and a 12-month high of $393.40.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CW. Alembic Global Advisors began coverage on shares of Curtiss-Wright in a research note on Tuesday, October 29th. They set an “overweight” rating and a $412.00 price objective on the stock. Citigroup initiated coverage on shares of Curtiss-Wright in a report on Tuesday, January 21st. They issued a “buy” rating and a $410.00 price objective for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Curtiss-Wright in a report on Thursday, December 5th. They issued a “buy” rating and a $452.00 price objective for the company. Truist Financial raised their target price on shares of Curtiss-Wright from $333.00 to $357.00 and gave the stock a “hold” rating in a report on Tuesday, January 14th. Finally, Stifel Nicolaus cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 target price for the company. in a report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $386.86.

Insiders Place Their Bets

In other news, CEO Lynn M. Bamford sold 7,129 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $368.80, for a total value of $2,629,175.20. Following the transaction, the chief executive officer now owns 28,688 shares in the company, valued at approximately $10,580,134.40. The trade was a 19.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John C. Watts sold 622 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $347.05, for a total transaction of $215,865.10. Following the completion of the transaction, the vice president now owns 5,072 shares in the company, valued at $1,760,237.60. This trade represents a 10.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 116 shares of company stock worth $35,278 and sold 23,064 shares worth $8,157,322. Corporate insiders own 0.67% of the company’s stock.

About Curtiss-Wright

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.