Curtiss-Wright Corp. (CW) Stock Rating Lowered by Bank of America Corp.
Curtiss-Wright Corp. (NYSE:CW) was downgraded by research analysts at Bank of America Corp. from a “buy” rating to a “neutral” rating in a report issued on Friday. They currently have a $100.00 price objective on the stock. Bank of America Corp.’s target price suggests a potential upside of 2.66% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other analysts have also commented on CW. 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 objective for the company. Zacks Investment Research lowered shares of Curtiss-Wright Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $95.00.
Curtiss-Wright Corp. (NYSE:CW) opened at 97.41 on Friday. The stock has a 50 day moving average price of $88.27 and a 200 day moving average price of $86.02. Curtiss-Wright Corp. has a 52 week low of $62.57 and a 52 week high of $98.06. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 23.46 and a beta of 1.27.
Curtiss-Wright Corp. (NYSE:CW) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.01. Curtiss-Wright Corp. had a return on equity of 14.85% and a net margin of 8.84%. The company had revenue of $507.09 million for the quarter, compared to the consensus estimate of $518.66 million. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, equities analysts forecast that Curtiss-Wright Corp. will post $4.11 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 21st. Stockholders of record on Friday, October 7th were issued a dividend of $0.13 per share. 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 12.56%.
In other news, CEO David Charles Adams sold 25,655 shares of Curtiss-Wright Corp. stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $86.26, for a total transaction of $2,213,000.30. Following the completion of the transaction, the chief executive officer now directly owns 113,161 shares in the company, valued at $9,761,267.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Nathman sold 6,000 shares of Curtiss-Wright Corp. stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $90.77, for a total transaction 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 disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC purchased a new position in shares of Curtiss-Wright Corp. during the second quarter worth $110,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Curtiss-Wright Corp. by 11.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,513 shares of the company’s stock worth $138,000 after buying an additional 156 shares during the last quarter. Advisor Group Inc. raised its position in shares of Curtiss-Wright Corp. by 91.1% in the third quarter. Advisor Group Inc. now owns 1,836 shares of the company’s stock worth $168,000 after buying an additional 875 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Curtiss-Wright Corp. during the second quarter worth $169,000. Finally, KCG Holdings Inc. purchased a new position in shares of Curtiss-Wright Corp. during the third quarter worth $204,000. Hedge funds and other institutional investors own 78.09% of the company’s stock.
About Curtiss-Wright Corp.
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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