Curtiss-Wright (NYSE:CW) Sets New 1-Year Low After Analyst Downgrade

by · The Markets Daily

Curtiss-Wright Corporation (NYSE:CW – Get Free Report)’s stock price reached a new 52-week low during mid-day trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $700.00 to $518.00. Stifel Nicolaus currently has a hold rating on the stock. Curtiss-Wright traded as low as $485.80 and last traded at $493.7160, with a volume of 126,490 shares traded. The stock had previously closed at $497.11.

CW has been the subject of several other reports. Wall Street Zen cut Curtiss-Wright from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Piper Sandler initiated coverage on shares of Curtiss-Wright in a research report on Wednesday, September 2nd. They set a “neutral” rating and a $665.00 target price on the stock. Guggenheim initiated coverage on shares of Curtiss-Wright in a research note on Monday, September 14th. They issued a “buy” rating and a $786.00 target price on the stock. Deutsche Bank Aktiengesellschaft set a $801.00 price target on shares of Curtiss-Wright in a research report on Wednesday, August 12th. Finally, Morgan Stanley dropped their price target on shares of Curtiss-Wright from $860.00 to $625.00 and set an “overweight” rating for the company in a research note on Friday. One equities research 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, Curtiss-Wright presently has a consensus rating of “Moderate Buy” and an average target price of $686.25.

Get Our Latest Stock Analysis on Curtiss-Wright

Insiders Place Their Bets

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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Larry D. Wyche sold 100 shares of Curtiss-Wright stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $596.74, for a total value of $59,674.00. Following the completion of the sale, the director directly owned 1,414 shares in the company, valued at approximately $843,790.36. This represents a 6.61% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CW. BlackRock Inc. purchased a new position in Curtiss-Wright during the 2nd quarter worth approximately $3,448,649,000. Concurrent Investment Advisors LLC increased its position in Curtiss-Wright by 220.1% during the second quarter. Concurrent Investment Advisors LLC now owns 3,073 shares of the aerospace company’s stock worth $2,329,000 after buying an additional 2,113 shares during the period. Pacer Advisors Inc. lifted its stake in Curtiss-Wright by 114.8% in the fourth quarter. Pacer Advisors Inc. now owns 10,759 shares of the aerospace company’s stock valued at $5,931,000 after buying an additional 5,749 shares during the last quarter. Nicholas Investment Partners LP purchased a new stake in Curtiss-Wright in the second quarter valued at approximately $4,737,000. Finally, Amundi lifted its stake in Curtiss-Wright by 47.6% in the second quarter. Amundi now owns 154,668 shares of the aerospace company’s stock valued at $117,201,000 after buying an additional 49,907 shares during the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Curtiss-Wright Price Performance

The firm has a market capitalization of $18.32 billion, a price-to-earnings ratio of 34.15, a P/E/G ratio of 2.26 and a beta of 0.88. The company has a fifty day moving average price of $575.63 and a two-hundred day moving average price of $678.88. 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 – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The aerospace company reported $3.72 earnings per share (EPS) 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 company 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 EPS. Curtiss-Wright’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Curtiss-Wright Corporation will post 15.31 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

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

Curtiss-Wright Company Profile

(Get Free Report)

Curtiss-Wright Corporation (NYSE: CW) is a diversified industrial company that provides highly engineered products and services to the aerospace, defense, commercial nuclear power, and general industrial markets. The company designs and manufactures equipment used in applications that require reliable performance in demanding operating environments.

Its products and technologies include motion-control systems, valves, pumps, actuation equipment, sensors, data-acquisition systems, embedded computing products, and aircraft structural components.

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