Curtiss-Wright Co. (NYSE:CW) to Issue Quarterly Dividend of $0.24

Curtiss-Wright Co. (NYSE:CW) declared a quarterly dividend on Thursday, May 15th, Wall Street Journal reports. Stockholders of record on Monday, June 16th will be paid a dividend of 0.24 per share by the aerospace company on Monday, July 7th. This represents a $0.96 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Monday, June 16th. This is a 14.3% increase from Curtiss-Wright’s previous quarterly dividend of $0.21.

Curtiss-Wright has increased its dividend by an average of 5.3% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Curtiss-Wright has a dividend payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Curtiss-Wright to earn $13.06 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 6.4%.

Curtiss-Wright Trading Up 0.7%

Shares of CW stock opened at $410.05 on Friday. The firm has a market cap of $15.44 billion, a PE ratio of 38.87, a price-to-earnings-growth ratio of 2.48 and a beta of 1.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.69 and a quick ratio of 1.19. Curtiss-Wright has a 1-year low of $258.85 and a 1-year high of $410.35. The company has a 50-day moving average of $335.15 and a two-hundred day moving average of $347.05.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings results on Wednesday, May 7th. The aerospace company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.39 by $0.43. Curtiss-Wright had a net margin of 12.98% and a return on equity of 17.11%. The company had revenue of $805.65 million during the quarter, compared to analysts’ expectations of $767.32 million. During the same quarter in the previous year, the business posted $1.99 EPS. The firm’s revenue was up 13.0% on a year-over-year basis. On average, analysts predict that Curtiss-Wright will post 12.32 EPS for the current year.

Insider Buying and Selling

In other Curtiss-Wright news, COO Kevin Rayment sold 1,003 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $325.73, for a total transaction of $326,707.19. Following the transaction, the chief operating officer now owns 25,863 shares in the company, valued at $8,424,354.99. This represents a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP George P. Mcdonald sold 148 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $325.41, for a total transaction of $48,160.68. Following the sale, the vice president now directly owns 1,899 shares of the company’s stock, valued at approximately $617,953.59. This trade represents a 7.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,642 shares of company stock worth $3,581,107 in the last 90 days. Corporate insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On Curtiss-Wright

A hedge fund recently raised its stake in Curtiss-Wright stock. Goldman Sachs Group Inc. increased its holdings in Curtiss-Wright Co. (NYSE:CW) by 10.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 213,101 shares of the aerospace company’s stock after buying an additional 20,379 shares during the period. Goldman Sachs Group Inc. owned 0.57% of Curtiss-Wright worth $67,611,000 as of its most recent SEC filing. Institutional investors own 82.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CW. Truist Financial decreased their price target on Curtiss-Wright from $357.00 to $338.00 and set a “hold” rating on the stock in a research note on Thursday, April 17th. StockNews.com raised Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Citigroup lowered their price target on Curtiss-Wright from $450.00 to $424.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Finally, Stifel Nicolaus cut their target price on Curtiss-Wright from $331.00 to $309.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Curtiss-Wright has a consensus rating of “Moderate Buy” and an average price target of $377.43.

About Curtiss-Wright

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.