Curtiss-Wright (NYSE:CW) Stock Gets Price Target Reduction from Citigroup

Curtiss-Wright (NYSE:CW) had its target price cut by Citigroup from $793.00 to $622.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

CW has been the subject of a number of other reports. Wall Street Zen downgraded Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Stifel Nicolaus increased their target price on shares of Curtiss-Wright from $724.00 to $768.00 and gave the company a “hold” rating in a research report on Monday, July 20th. Morgan Stanley restated an “overweight” rating and set a $860.00 price target on shares of Curtiss-Wright in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft set a $801.00 price target on shares of Curtiss-Wright in a research report on Wednesday, August 12th. Finally, Guggenheim began coverage on shares of Curtiss-Wright in a research report on Monday, September 14th. They set a “buy” rating and a $786.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $746.88.

Curtiss-Wright Price Performance

CW stock opened at $513.27 on Wednesday. The company has a market capitalization of $18.96 billion, a P/E ratio of 35.32, a PEG ratio of 2.29 and a beta of 0.88. The company has a fifty day moving average price of $602.46 and a 200-day moving average price of $686.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. Curtiss-Wright has a 52-week low of $501.60 and a 52-week high of $808.16.

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

Curtiss-Wright Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date was Friday, September 25th. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.24. Curtiss-Wright’s dividend payout ratio is presently 7.16%.

Insider Buying and Selling at Curtiss-Wright

In other Curtiss-Wright news, EVP John Watts sold 1,035 shares of Curtiss-Wright stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $619.46, for a total value of $641,141.10. Following the completion of the sale, the executive vice president directly owned 2,736 shares of the company’s stock, valued at approximately $1,694,842.56. The trade was a 27.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Larry D. Wyche sold 100 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $596.74, for a total transaction of $59,674.00. Following the transaction, the director directly owned 1,414 shares in the company, valued at $843,790.36. This trade represents a 6.61% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Curtiss-Wright

A number of large investors have recently modified their holdings of CW. Jackson Thornton Wealth Management LLC increased its stake in Curtiss-Wright by 4.9% in the 1st quarter. Jackson Thornton Wealth Management LLC now owns 410 shares of the aerospace company’s stock valued at $298,000 after buying an additional 19 shares during the last quarter. AIA Group Ltd boosted its stake in shares of Curtiss-Wright by 0.6% in the 1st quarter. AIA Group Ltd now owns 3,412 shares of the aerospace company’s stock worth $2,324,000 after buying an additional 19 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Curtiss-Wright by 10.5% in the first quarter. Parallel Advisors LLC now owns 305 shares of the aerospace company’s stock valued at $208,000 after acquiring an additional 29 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Curtiss-Wright by 0.7% in the first quarter. Private Advisor Group LLC now owns 4,686 shares of the aerospace company’s stock valued at $3,192,000 after acquiring an additional 31 shares in the last quarter. Finally, Cooper Financial Group increased its position in shares of Curtiss-Wright by 9.3% during the third quarter. Cooper Financial Group now owns 376 shares of the aerospace company’s stock valued at $204,000 after acquiring an additional 32 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation is a diversified manufacturer and service provider serving the aerospace, defense, commercial power and industrial markets. The company develops and produces highly engineered components and systems used in applications where reliability, performance and safety are critical.

Its products and services include aircraft and industrial actuation systems, sensors and controls, electronic components, embedded computing systems, data-acquisition equipment, valves, pumps, motors and other flow-control products.