Curtiss-Wright (NYSE:CW) Sets New 52-Week Low – Here’s What Happened

Curtiss-Wright Corporation (NYSE:CW) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $494.11 and last traded at $502.7920, with a volume of 554,662 shares traded. The stock had previously closed at $504.16.

Analyst Upgrades and Downgrades

CW has been the subject of several recent research reports. 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 note on Monday, July 20th. Wall Street Zen cut shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Piper Sandler assumed coverage on Curtiss-Wright in a report on Wednesday, September 2nd. They issued a “neutral” rating and a $665.00 price target on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $860.00 price target on shares of Curtiss-Wright in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $746.88.

Curtiss-Wright Stock Down 0.3%

The business’s 50 day simple moving average is $592.48 and its 200 day simple moving average is $683.39. The company has a market capitalization of $18.57 billion, a PE ratio of 34.60, a price-to-earnings-growth ratio of 2.28 and a beta of 0.88. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.27.

Curtiss-Wright (NYSE:CW) last released its earnings results 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. Curtiss-Wright had a net margin of 14.81% and a return on equity of 20.49%. The business had revenue of $924.01 million for the quarter, compared to the consensus estimate of $926.17 million. During the same period last year, the firm posted $3.23 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, analysts forecast that Curtiss-Wright Corporation will post 15.27 EPS for the current year.

Curtiss-Wright Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Friday, September 25th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, September 25th. This represents a $1.04 dividend on an annualized basis and a yield of 0.2%. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.24. Curtiss-Wright’s dividend payout ratio (DPR) is 7.16%.

Insider Buying and Selling

In other Curtiss-Wright news, EVP John Watts sold 1,035 shares of Curtiss-Wright stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $619.46, for a total transaction of $641,141.10. Following the transaction, the executive vice president directly owned 2,736 shares in the company, valued at approximately $1,694,842.56. The trade was a 27.45% decrease in their position. 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 Curtiss-Wright stock in a transaction that occurred on 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 owned 1,414 shares in the company, valued at approximately $843,790.36. The trade was a 6.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.51% of the company’s stock.

Institutional Trading of Curtiss-Wright

Several hedge funds and other institutional investors have recently modified their holdings of CW. BlackRock Inc. acquired a new position in Curtiss-Wright during the second quarter valued at $3,448,649,000. Primecap Management Co. CA acquired a new stake in Curtiss-Wright during the 2nd quarter worth about $390,106,000. Bank of New York Mellon Corp acquired a new stake in Curtiss-Wright during the 2nd quarter worth about $270,458,000. William Blair Investment Management LLC acquired a new stake in Curtiss-Wright during the 2nd quarter worth about $240,442,000. Finally, First Trust Advisors LP grew its stake in Curtiss-Wright by 19.9% during the 1st quarter. First Trust Advisors LP now owns 206,021 shares of the aerospace company’s stock valued at $140,325,000 after acquiring an additional 34,191 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

About Curtiss-Wright

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.