Curtiss-Wright (NYSE:CW) Rating Increased to Strong-Buy at Guggenheim

Guggenheim upgraded shares of Curtiss-Wright (NYSE:CW) to a strong-buy rating in a research note released on Monday,Zacks reports.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $860.00 price objective on shares of Curtiss-Wright in a research note on Wednesday, July 15th. Weiss Ratings lowered shares of Curtiss-Wright from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Citigroup raised their target price on shares of Curtiss-Wright from $775.00 to $793.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Wall Street Zen lowered shares of Curtiss-Wright from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $768.25.

Curtiss-Wright Stock Up 1.4%

CW opened at $570.76 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.60. The company has a market capitalization of $21.08 billion, a PE ratio of 39.28, a P/E/G ratio of 2.54 and a beta of 0.84. The stock’s fifty day moving average is $667.17 and its 200-day moving average is $704.02. Curtiss-Wright has a one year low of $490.66 and a one year high of $808.16.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Thursday, August 6th. The aerospace company reported $3.72 earnings per share for the quarter, beating the consensus estimate of $3.62 by $0.10. The business had revenue of $924.01 million during the quarter, compared to analysts’ expectations of $926.17 million. Curtiss-Wright had a return on equity of 20.49% and a net margin of 14.81%.The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $3.23 earnings per share. On average, equities analysts predict that Curtiss-Wright will post 15.27 EPS for the current fiscal year.

Curtiss-Wright Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Friday, September 25th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, September 25th. This is a boost from Curtiss-Wright’s previous quarterly dividend of $0.24. Curtiss-Wright’s dividend payout ratio is presently 7.16%.

Insider Transactions at Curtiss-Wright

In other news, Director Larry D. Wyche sold 100 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $596.74, for a total transaction of $59,674.00. Following the sale, the director owned 1,414 shares in the company, valued at $843,790.36. The trade was a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John C. Watts sold 1,035 shares of the company’s 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 completion of the sale, the executive vice president owned 2,736 shares of the company’s stock, valued at approximately $1,694,842.56. This trade represents a 27.45% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Curtiss-Wright

Several large investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Curtiss-Wright by 13.7% in the second quarter. Sequoia Financial Advisors LLC now owns 13,097 shares of the aerospace company’s stock valued at $9,924,000 after purchasing an additional 1,583 shares in the last quarter. Tidal Investments LLC raised its position in Curtiss-Wright by 2.4% during the second quarter. Tidal Investments LLC now owns 13,462 shares of the aerospace company’s stock valued at $10,201,000 after buying an additional 310 shares during the period. Van Hulzen Asset Management LLC raised its position in Curtiss-Wright by 38.1% during the second quarter. Van Hulzen Asset Management LLC now owns 794 shares of the aerospace company’s stock valued at $602,000 after buying an additional 219 shares during the period. National Pension Service lifted its stake in Curtiss-Wright by 2,974.9% in the 2nd quarter. National Pension Service now owns 63,928 shares of the aerospace company’s stock worth $48,442,000 after acquiring an additional 61,849 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new stake in Curtiss-Wright in the 2nd quarter worth about $201,000. 82.71% of the stock is owned by institutional investors and hedge funds.

About Curtiss-Wright

Curtiss-Wright Corporation (NYSE:CW) is a diversified industrial company that develops and manufactures highly engineered products and services for the aerospace, defense, commercial nuclear and general industrial markets. Its offerings include sensors, actuators, valves, pumps, electronic systems, embedded computing products, surface-treatment services and other components designed for demanding operating environments.

The company serves aerospace and defense customers with products used in aircraft, naval vessels, ground vehicles, missile systems and other defense platforms.