Curtiss-Wright Corp. (CW) Downgraded to Sell at Zacks Investment Research
According to Zacks, “CURTISS-WRIGHT CORP. produces precision components for the aerospace, industrial and marine companies. Aerospace components consist of control and actuation systems. Co. also provides shot-perring & heat treating for industrial markets and the target rock subsidiary produces engineered valves for the United States Navy. “
Several other research firms have also issued reports on CW. William Blair initiated coverage on Curtiss-Wright Corp. in a research note on Wednesday, August 3rd. They issued a market perform rating and a $92.00 price objective for the company. Deutsche Bank AG reissued a buy rating and set a $95.00 price target (up from $89.00) on shares of Curtiss-Wright Corp. in a research note on Monday, June 13th.
Curtiss-Wright Corp. (NYSE:CW) traded down 1.02% during midday trading on Monday, reaching $87.46. The company’s stock had a trading volume of 19,341 shares. The company has a market cap of $3.89 billion, a P/E ratio of 22.77 and a beta of 1.27. The firm has a 50 day moving average price of $89.22 and a 200-day moving average price of $84.25. Curtiss-Wright Corp. has a 12-month low of $62.57 and a 12-month high of $92.08.
Curtiss-Wright Corp. (NYSE:CW) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.07. The business earned $532.80 million during the quarter, compared to analyst estimates of $523.84 million. Curtiss-Wright Corp. had a return on equity of 14.15% and a net margin of 8.21%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the company earned $0.83 EPS. On average, equities research analysts predict that Curtiss-Wright Corp. will post $4.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.59%. Curtiss-Wright Corp.’s dividend payout ratio is presently 13.58%.
In related news, Director John B. Nathman sold 6,000 shares of the business’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $90.77, for a total transaction of $544,620.00. Following the transaction, the director now directly owns 5,455 shares in the company, valued at approximately $495,150.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Tom P. Quinly sold 8,500 shares of the business’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $89.78, for a total value of $763,130.00. Following the transaction, the vice president now owns 27,258 shares in the company, valued at $2,447,223.24. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mason Street Advisors LLC purchased a new stake in shares of Curtiss-Wright Corp. during the second quarter worth approximately $1,711,000. Harbour Capital Advisors LLC purchased a new stake in shares of Curtiss-Wright Corp. during the second quarter worth approximately $722,000. Public Employees Retirement System of Ohio boosted its stake in shares of Curtiss-Wright Corp. by 1.8% in the second quarter. Public Employees Retirement System of Ohio now owns 2,477 shares of the company’s stock worth $209,000 after buying an additional 44 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Curtiss-Wright Corp. by 18.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 252,595 shares of the company’s stock worth $21,282,000 after buying an additional 38,444 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Curtiss-Wright Corp. by 1.6% in the second quarter. Amalgamated Bank now owns 5,391 shares of the company’s stock worth $483,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.
Curtiss-Wright Corp. Company Profile
Curtiss-Wright Corporation is a provider of engineered products and services to the commercial, defense, energy and industrial markets. The Company operates through three segments: Commercial/Industrial, which provides a diversified offering of engineered products and services supporting applications primarily across the commercial aerospace and general industrial markets; Defense, which consists of businesses that primarily provide products to the defense markets and to the commercial aerospace market, and Power, which consists of businesses that primarily provide products to the power generation markets and to the naval defense market.
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