Curtiss-Wright (NYSE:CW) Shares Gap Up on Earnings Beat

Curtiss-Wright Co. (NYSE:CW)’s stock price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $341.94, but opened at $360.00. Curtiss-Wright shares last traded at $347.15, with a volume of 45,192 shares trading hands.

The aerospace company reported $3.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.12 by $0.15. Curtiss-Wright had a net margin of 13.20% and a return on equity of 17.21%.

Curtiss-Wright Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Shareholders of record on Thursday, March 27th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, March 27th. Curtiss-Wright’s dividend payout ratio is 7.95%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus lowered Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 target price on the stock. in a research report on Monday, November 18th. Morgan Stanley boosted their price objective on shares of Curtiss-Wright from $334.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Alembic Global Advisors assumed coverage on shares of Curtiss-Wright in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 target price for the company. Citigroup initiated coverage on shares of Curtiss-Wright in a research report on Tuesday, January 21st. They set a “buy” rating and a $410.00 price target on the stock. Finally, Truist Financial raised their price objective on Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $386.86.

Insider Buying and Selling at Curtiss-Wright

In related news, CEO Lynn M. Bamford sold 7,129 shares of Curtiss-Wright stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $368.80, for a total transaction of $2,629,175.20. Following the completion of the sale, the chief executive officer now directly owns 28,688 shares of the company’s stock, valued at approximately $10,580,134.40. This trade represents a 19.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John C. Watts sold 622 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $347.05, for a total value of $215,865.10. Following the completion of the transaction, the vice president now directly owns 5,072 shares in the company, valued at approximately $1,760,237.60. This represents a 10.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders acquired 116 shares of company stock valued at $35,278 and sold 23,064 shares valued at $8,157,322. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Curtiss-Wright

Institutional investors and hedge funds have recently modified their holdings of the business. Atomi Financial Group Inc. bought a new stake in Curtiss-Wright during the fourth quarter worth about $239,000. Oppenheimer & Co. Inc. bought a new position in Curtiss-Wright in the 3rd quarter valued at approximately $542,000. Fisher Asset Management LLC boosted its position in Curtiss-Wright by 8.4% in the third quarter. Fisher Asset Management LLC now owns 70,454 shares of the aerospace company’s stock valued at $23,158,000 after buying an additional 5,437 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Curtiss-Wright by 21.8% during the third quarter. MML Investors Services LLC now owns 9,786 shares of the aerospace company’s stock worth $3,217,000 after buying an additional 1,754 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Curtiss-Wright during the fourth quarter worth $210,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Curtiss-Wright Stock Up 1.5 %

The company has a current ratio of 1.98, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $13.17 billion, a P/E ratio of 32.84, a PEG ratio of 2.50 and a beta of 1.19. The stock has a 50 day moving average price of $358.44 and a 200 day moving average price of $341.03.

Curtiss-Wright Company Profile

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services mainly to aerospace and defense, commercial power, process, and industrial markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.