Curtiss-Wright Corp. (CW) Rating Lowered to Neutral at CL King
Curtiss-Wright Corp. (NYSE:CW) was downgraded by investment analysts at CL King from a “buy” rating to a “neutral” rating in a research report issued on Friday.
Other equities research analysts have also recently issued research reports about the stock. William Blair began coverage on shares of Curtiss-Wright Corp. in a report on Wednesday, August 3rd. They issued a “market perform” rating and a $92.00 price target on the stock. Bank of America Corp. cut shares of Curtiss-Wright Corp. from a “buy” rating to a “neutral” rating and set a $100.00 target price on the stock. in a report on Friday. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Curtiss-Wright Corp. from a “sell” rating to a “hold” rating in a report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Curtiss-Wright Corp. has an average rating of “Hold” and an average target price of $95.00.
Shares of Curtiss-Wright Corp. (NYSE:CW) opened at 97.41 on Friday. The company’s 50 day moving average price is $88.27 and its 200 day moving average price is $86.02. The firm has a market cap of $4.31 billion, a P/E ratio of 23.46 and a beta of 1.27. Curtiss-Wright Corp. has a 12-month low of $62.57 and a 12-month high of $98.06.
Curtiss-Wright Corp. (NYSE:CW) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. The company had revenue of $507.09 million for the quarter, compared to analysts’ expectations of $518.66 million. Curtiss-Wright Corp. had a net margin of 8.84% and a return on equity of 14.85%. Curtiss-Wright Corp.’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Equities research analysts forecast that Curtiss-Wright Corp. will post $4.11 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 21st. Stockholders of record on Friday, October 7th were issued a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, October 5th. This represents a $0.52 annualized dividend and a dividend yield of 0.53%. Curtiss-Wright Corp.’s payout ratio is currently 12.56%.
In other news, Director John B. Nathman sold 6,000 shares of the company’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of $90.77, for a total value of $544,620.00. Following the transaction, the director now owns 5,455 shares of the company’s stock, valued at $495,150.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Charles Adams sold 27,475 shares of the company’s stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $89.40, for a total transaction of $2,456,265.00. Following the completion of the transaction, the chief executive officer now directly owns 60,031 shares in the company, valued at approximately $5,366,771.40. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its position in shares of Curtiss-Wright Corp. by 0.8% in the third quarter. Hsbc Holdings PLC now owns 3,184 shares of the company’s stock valued at $290,000 after buying an additional 25 shares during the period. Public Employees Retirement System of Ohio raised its position 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 valued at $209,000 after buying an additional 44 shares during the period. Amalgamated Bank raised its position 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 valued at $483,000 after buying an additional 87 shares during the period. Oakbrook Investments LLC raised its position in shares of Curtiss-Wright Corp. by 2.9% in the second quarter. Oakbrook Investments LLC now owns 3,600 shares of the company’s stock valued at $303,000 after buying an additional 100 shares during the period. Finally, State Treasurer State of Michigan raised its position in shares of Curtiss-Wright Corp. by 0.6% in the second quarter. State Treasurer State of Michigan now owns 17,900 shares of the company’s stock valued at $1,508,000 after buying an additional 100 shares during the period. 78.09% of the stock is currently owned by hedge funds and other institutional investors.
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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