Curtiss-Wright Corporation (CW) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Curtiss-Wright Corporation (NYSE:CW) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. They currently have $116.00 price objective on the aerospace company’s stock.
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. “
A number of other research firms have also recently issued reports on CW. Stifel Nicolaus assumed coverage on Curtiss-Wright Corporation in a research note on Monday. They issued a hold rating and a $100.00 target price on the stock. BidaskClub upgraded Curtiss-Wright Corporation from a sell rating to a hold rating in a research note on Tuesday, August 8th. Finally, SunTrust Banks, Inc. upgraded Curtiss-Wright Corporation from a hold rating to a buy rating and raised their target price for the company from $103.00 to $112.00 in a research note on Monday, June 5th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $107.40.
Shares of Curtiss-Wright Corporation (NYSE:CW) traded up 0.921% during trading on Thursday, hitting $104.665. 91,407 shares of the stock were exchanged. The firm has a 50 day moving average of $96.82 and a 200-day moving average of $93.00. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 23.744 and a beta of 1.26. Curtiss-Wright Corporation has a 12-month low of $82.77 and a 12-month high of $107.61.
Curtiss-Wright Corporation (NYSE:CW) last announced its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.16. The firm had revenue of $567.70 million for the quarter, compared to analysts’ expectations of $546.73 million. Curtiss-Wright Corporation had a return on equity of 14.79% and a net margin of 9.14%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business posted $0.88 earnings per share. On average, analysts forecast that Curtiss-Wright Corporation will post $4.55 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.58%. This is a boost from Curtiss-Wright Corporation’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, October 5th. Curtiss-Wright Corporation’s dividend payout ratio (DPR) is presently 11.79%.
In other Curtiss-Wright Corporation news, Director S Marce Fuller sold 1,300 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $96.16, for a total value of $125,008.00. Following the sale, the director now directly owns 14,960 shares in the company, valued at $1,438,553.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Prudential Financial Inc. increased its holdings in shares of Curtiss-Wright Corporation by 251.5% during the second quarter. Prudential Financial Inc. now owns 327,613 shares of the aerospace company’s stock valued at $30,068,000 after purchasing an additional 234,409 shares during the period. World Asset Management Inc increased its holdings in shares of Curtiss-Wright Corporation by 1.8% during the first quarter. World Asset Management Inc now owns 2,716 shares of the aerospace company’s stock valued at $248,000 after purchasing an additional 49 shares during the period. Paloma Partners Management Co increased its holdings in shares of Curtiss-Wright Corporation by 12.8% during the first quarter. Paloma Partners Management Co now owns 36,450 shares of the aerospace company’s stock valued at $3,327,000 after purchasing an additional 4,123 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Curtiss-Wright Corporation during the first quarter valued at $233,000. Finally, Bank of Nova Scotia acquired a new position in shares of Curtiss-Wright Corporation during the first quarter valued at $13,689,000. 76.18% of the stock is currently owned by institutional investors.
About Curtiss-Wright Corporation
Curtiss-Wright Corporation is a manufacturing and service company that designs, manufactures, and overhauls precision components and provides engineered products and services to the aerospace, defense, power generation and general industrial markets. The Company operates through three segments: Commercial/Industrial, Defense and Power.
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