Curtiss-Wright Corp. (CW) to Issue Quarterly Dividend of $0.13 on December 9th
Curtiss-Wright Corp. (NYSE:CW) announced a quarterly dividend on Thursday, November 17th. Stockholders of record on Monday, November 28th will be paid a dividend of 0.13 per share on Friday, December 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Wednesday, November 23rd.
Shares of Curtiss-Wright Corp. (NYSE:CW) opened at 100.32 on Tuesday. The stock’s 50 day moving average price is $89.75 and its 200-day moving average price is $87.05. Curtiss-Wright Corp. has a one year low of $62.57 and a one year high of $100.33. The company has a market cap of $4.44 billion, a PE ratio of 24.16 and a beta of 1.27.
Curtiss-Wright Corp. (NYSE:CW) last posted its earnings results on Wednesday, October 26th. The company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.01. Curtiss-Wright Corp. had a net margin of 8.84% and a return on equity of 14.85%. The company had revenue of $507.09 million for the quarter, compared to analyst estimates of $518.66 million. During the same quarter in the prior year, the business posted $0.80 EPS. The firm’s revenue was down 3.5% compared to the same quarter last year. On average, analysts expect that Curtiss-Wright Corp. will post $4.11 EPS for the current year.
In other news, CEO David Charles Adams sold 27,475 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The shares were 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 of the company’s stock, valued at approximately $5,366,771.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Nathman sold 6,000 shares of the 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 directly owns 5,455 shares of the company’s stock, valued at $495,150.35. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Curtiss-Wright Corp. by 13.2% in the second quarter. FMR LLC now owns 1,230,965 shares of the company’s stock worth $103,709,000 after buying an additional 143,302 shares in the last quarter. AQR Capital Management LLC increased its position in Curtiss-Wright Corp. by 564.0% in the second quarter. AQR Capital Management LLC now owns 164,265 shares of the company’s stock worth $13,839,000 after buying an additional 139,527 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Curtiss-Wright Corp. during the third quarter worth $8,119,000. BlackRock Fund Advisors increased its position in Curtiss-Wright Corp. by 3.7% in the second quarter. BlackRock Fund Advisors now owns 2,401,975 shares of the company’s stock worth $202,366,000 after buying an additional 86,145 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in Curtiss-Wright Corp. during the second quarter worth $5,055,000. 77.13% of the stock is owned by hedge funds and other institutional investors.
CW has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Curtiss-Wright Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 1st. William Blair assumed coverage on shares of Curtiss-Wright Corp. in a report on Wednesday, August 3rd. They issued a “market perform” rating and a $92.00 target price on the stock. CL King lowered shares of Curtiss-Wright Corp. from a “buy” rating to a “neutral” rating in a research note on Friday, November 11th. Finally, Bank of America Corp. lowered shares of Curtiss-Wright Corp. from a “buy” rating to a “neutral” rating and set a $100.00 price objective for the company. in a research note on Friday, November 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Curtiss-Wright Corp. presently has a consensus rating of “Hold” and a consensus price target of $95.00.
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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