Curtiss-Wright (NYSE:CW) Issues Earnings Results, Beats Expectations By $0.13 EPS

by · The Markets Daily

Curtiss-Wright (NYSE:CW – Get Free Report) posted its quarterly earnings results on Wednesday. The aerospace company reported $3.79 EPS for the quarter, beating the consensus estimate of $3.66 by $0.13, Zacks reports. Curtiss-Wright had a return on equity of 19.16% and a net margin of 13.84%.The firm had revenue of $946.98 million during the quarter, compared to analysts’ expectations of $890.14 million. During the same quarter in the prior year, the firm posted $3.27 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis.

Curtiss-Wright Stock Up 8.2%

Shares of NYSE CW opened at $685.97 on Friday. Curtiss-Wright has a 12-month low of $266.88 and a 12-month high of $709.99. The firm’s 50-day simple moving average is $604.81 and its 200 day simple moving average is $554.77. The company has a quick ratio of 1.17, a current ratio of 1.75 and a debt-to-equity ratio of 0.38. The company has a market cap of $25.30 billion, a price-to-earnings ratio of 53.02, a price-to-earnings-growth ratio of 2.89 and a beta of 0.93.

Curtiss-Wright Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 13th. Investors of record on Thursday, March 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Thursday, March 26th. Curtiss-Wright’s payout ratio is currently 7.82%.

Insider Activity at Curtiss-Wright

In other news, COO Kevin Rayment sold 2,634 shares of Curtiss-Wright stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $626.33, for a total value of $1,649,753.22. Following the completion of the sale, the chief operating officer directly owned 29,896 shares of the company’s stock, valued at approximately $18,724,761.68. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lynn M. Bamford sold 9,327 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $626.45, for a total value of $5,842,899.15. Following the sale, the chief executive officer owned 46,192 shares of the company’s stock, valued at approximately $28,936,978.40. The trade was a 16.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,269 shares of company stock valued at $10,797,098 in the last three months. 0.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in Curtiss-Wright by 45.8% in the second quarter. AQR Capital Management LLC now owns 388,493 shares of the aerospace company’s stock valued at $189,468,000 after acquiring an additional 122,048 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Curtiss-Wright during the third quarter worth $62,320,000. Qube Research & Technologies Ltd increased its holdings in Curtiss-Wright by 94.9% in the third quarter. Qube Research & Technologies Ltd now owns 156,515 shares of the aerospace company’s stock valued at $84,978,000 after purchasing an additional 76,220 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Curtiss-Wright in the third quarter valued at about $37,955,000. Finally, Lazard Asset Management LLC boosted its holdings in Curtiss-Wright by 71.9% during the third quarter. Lazard Asset Management LLC now owns 131,801 shares of the aerospace company’s stock worth $71,560,000 after buying an additional 55,122 shares during the last quarter. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wall Street Zen upgraded Curtiss-Wright from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Morgan Stanley restated an “overweight” rating and issued a $660.00 price objective on shares of Curtiss-Wright in a research note on Tuesday, December 16th. Citigroup reaffirmed a “neutral” rating on shares of Curtiss-Wright in a report on Friday. Stifel Nicolaus set a $625.00 target price on shares of Curtiss-Wright in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Curtiss-Wright in a report on Monday, December 22nd. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Curtiss-Wright has a consensus rating of “Moderate Buy” and a consensus target price of $612.33.

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About Curtiss-Wright

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Curtiss-Wright Corporation (NYSE: CW) is a diversified, global engineering company that designs, manufactures and services highly engineered products and integrated systems for the aerospace, defense, and industrial markets. Its offerings span a range of electromechanical, motion control and flow control technologies, including flight control and actuation systems, sensors and avionics components, pumps and valves, power conversion and heat exchangers, and platform integration solutions for marine and ground systems.

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