Curtiss-Wright Corporation (NYSE:CW) to Issue Quarterly Dividend of $0.26

Curtiss-Wright Corporation (NYSE:CW) announced a quarterly dividend on Thursday, September 10th. Stockholders of record on Friday, September 25th will be given a dividend of 0.26 per share by the aerospace company on Friday, October 9th. This represents a c) annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, September 25th. This is a 8.3% increase from Curtiss-Wright’s previous quarterly dividend of $0.24.

Curtiss-Wright has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Curtiss-Wright has a dividend payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Curtiss-Wright to earn $17.10 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 6.1%.

Curtiss-Wright Trading Down 1.0%

CW stock opened at $559.62 on Friday. Curtiss-Wright has a 52-week low of $490.66 and a 52-week high of $808.16. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27. The firm has a market cap of $20.67 billion, a P/E ratio of 38.51, a PEG ratio of 2.55 and a beta of 0.84. The company’s 50-day simple moving average is $683.87 and its 200-day simple moving average is $708.04.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.10. The firm had revenue of $924.01 million during the quarter, compared to analyst estimates of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.Curtiss-Wright’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.23 EPS. As a group, equities analysts forecast that Curtiss-Wright will post 15.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on CW shares. Stifel Nicolaus boosted their price objective on Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research report on Monday, July 20th. Weiss Ratings lowered Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Morgan Stanley reissued an “overweight” rating and issued a $860.00 price target on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Piper Sandler began coverage on shares of Curtiss-Wright in a report on Wednesday, September 2nd. They issued a “neutral” rating and a $665.00 price target for the company. Finally, Wall Street Zen cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $765.71.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation (NYSE:CW) is a diversified industrial company that develops and manufactures highly engineered products and services for the aerospace, defense, commercial nuclear and general industrial markets. Its offerings include sensors, actuators, valves, pumps, electronic systems, embedded computing products, surface-treatment services and other components designed for demanding operating environments.

The company serves aerospace and defense customers with products used in aircraft, naval vessels, ground vehicles, missile systems and other defense platforms.