Short Interest in Curtiss-Wright Corp. (NYSE:CW) Decreases By 14.3%
Curtiss-Wright Corp. (NYSE:CW) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 783,900 shares, a decrease of 14.3% from the July 31st total of 915,100 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 251,400 shares, the days-to-cover ratio is currently 3.1 days.
Shares of NYSE CW traded up $0.62 during mid-day trading on Friday, reaching $132.48. 181,289 shares of the company’s stock were exchanged, compared to its average volume of 171,667. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 20.80, a PEG ratio of 2.24 and a beta of 1.20. The company has a current ratio of 2.10, a quick ratio of 1.41 and a debt-to-equity ratio of 0.53. The business has a fifty day simple moving average of $123.56 and a 200 day simple moving average of $118.92. Curtiss-Wright has a twelve month low of $95.23 and a twelve month high of $141.29.
Curtiss-Wright (NYSE:CW) last released its quarterly earnings results on Wednesday, July 31st. The aerospace company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.13. The company had revenue of $639.00 million for the quarter, compared to analyst estimates of $642.66 million. Curtiss-Wright had a return on equity of 18.54% and a net margin of 11.90%. Curtiss-Wright’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.80 earnings per share. Equities research analysts predict that Curtiss-Wright will post 7.12 earnings per share for the current fiscal year.
In other Curtiss-Wright news, CEO David Charles Adams sold 7,000 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $130.01, for a total value of $910,070.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Glenn E. Tynan sold 10,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $128.14, for a total value of $1,281,400.00. The disclosure for this sale can be found here. Insiders sold 32,047 shares of company stock worth $4,033,042 in the last three months. Insiders own 0.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Aviva PLC bought a new position in shares of Curtiss-Wright during the second quarter worth about $1,213,000. DekaBank Deutsche Girozentrale bought a new position in shares of Curtiss-Wright during the second quarter worth about $35,000. Cerebellum GP LLC grew its holdings in shares of Curtiss-Wright by 99.9% during the first quarter. Cerebellum GP LLC now owns 2,649 shares of the aerospace company’s stock worth $300,000 after buying an additional 1,324 shares in the last quarter. Bingham Osborn & Scarborough LLC bought a new position in shares of Curtiss-Wright during the second quarter worth about $215,000. Finally, Advisory Services Network LLC grew its holdings in shares of Curtiss-Wright by 14.0% during the second quarter. Advisory Services Network LLC now owns 815 shares of the aerospace company’s stock worth $104,000 after buying an additional 100 shares in the last quarter. 77.91% of the stock is currently owned by institutional investors.
CW has been the topic of several analyst reports. Stifel Nicolaus increased their target price on Curtiss-Wright from $138.00 to $147.00 and gave the company a “buy” rating in a research note on Monday, July 15th. ValuEngine raised Curtiss-Wright from a “sell” rating to a “hold” rating in a research report on Friday, May 17th. Finally, Zacks Investment Research raised Curtiss-Wright from a “hold” rating to a “buy” rating and set a $139.00 price target on the stock in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $141.80.
Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.
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