Curtiss-Wright (NYSE:CW) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Curtiss-Wright (NYSE:CW) announced its quarterly earnings data on Wednesday. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.65 by $0.14, Zacks reports. Curtiss-Wright had a net margin of 13.78% and a return on equity of 18.82%.

Curtiss-Wright Stock Down 1.6%

Shares of CW traded down $10.42 during midday trading on Wednesday, hitting $635.08. The company had a trading volume of 363,289 shares, compared to its average volume of 242,866. Curtiss-Wright has a 1 year low of $266.88 and a 1 year high of $683.09. The firm has a market capitalization of $23.42 billion, a P/E ratio of 51.76, a P/E/G ratio of 2.98 and a beta of 0.93. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.75. The company’s 50-day simple moving average is $600.37 and its 200-day simple moving average is $553.37.

Curtiss-Wright Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Shareholders of record on Thursday, March 26th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This represents a $0.96 dividend on an annualized basis and a yield of 0.2%. Curtiss-Wright’s dividend payout ratio (DPR) is currently 7.82%.

Insider Transactions at Curtiss-Wright

In other Curtiss-Wright news, CFO K Christopher Farkas sold 2,665 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total transaction of $1,669,169.45. Following the completion of the transaction, the chief financial officer owned 7,358 shares in the company, valued at $4,608,536.14. The trade was a 26.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Kevin Rayment sold 2,634 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $626.33, for a total transaction of $1,649,753.22. Following the completion of the sale, the chief operating officer owned 29,896 shares in the company, valued at $18,724,761.68. The trade was a 8.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,269 shares of company stock valued at $10,797,098 over the last quarter. Insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Larson Financial Group LLC lifted its stake in shares of Curtiss-Wright by 53.8% in the 3rd quarter. Larson Financial Group LLC now owns 60 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 21 shares during the period. Sunbelt Securities Inc. purchased a new position in Curtiss-Wright during the third quarter worth about $43,000. Northwestern Mutual Wealth Management Co. lifted its position in Curtiss-Wright by 53.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 100 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 35 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Curtiss-Wright in the 3rd quarter valued at approximately $125,000. Finally, Wilmington Savings Fund Society FSB increased its position in Curtiss-Wright by 113.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 269 shares of the aerospace company’s stock worth $146,000 after purchasing an additional 143 shares during the period. Institutional investors and hedge funds own 82.71% of the company’s stock.

Wall Street Analysts Forecast Growth

CW has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Curtiss-Wright from $607.00 to $661.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Curtiss-Wright in a research report on Monday, December 22nd. Wall Street Zen upgraded shares of Curtiss-Wright from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Stifel Nicolaus set a $625.00 price objective on shares of Curtiss-Wright in a research report on Friday, January 23rd. Finally, Truist Financial set a $603.00 target price on Curtiss-Wright in a research report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $612.33.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.