Curtiss-Wright Co. (CW) to Issue Quarterly Dividend of $0.21 on October 11th

Curtiss-Wright Co. (NYSE:CW) declared a quarterly dividend on Wednesday, September 11th, Wall Street Journal reports. Stockholders of record on Friday, September 27th will be paid a dividend of 0.21 per share by the aerospace company on Friday, October 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, September 27th.

Curtiss-Wright has raised its dividend by an average of 5.1% annually over the last three years. Curtiss-Wright has a payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Curtiss-Wright to earn $11.33 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 7.4%.

Curtiss-Wright Stock Performance

CW stock opened at $327.05 on Wednesday. The company has a 50-day simple moving average of $298.21 and a 200 day simple moving average of $276.90. The company has a market capitalization of $12.53 billion, a P/E ratio of 33.68 and a beta of 1.18. The company has a quick ratio of 1.42, a current ratio of 2.05 and a debt-to-equity ratio of 0.39. Curtiss-Wright has a fifty-two week low of $190.64 and a fifty-two week high of $333.73.

Curtiss-Wright (NYSE:CW) last announced its earnings results on Wednesday, August 7th. The aerospace company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.24 by $0.43. The firm had revenue of $785.00 million for the quarter, compared to analysts’ expectations of $735.82 million. Curtiss-Wright had a return on equity of 17.07% and a net margin of 13.05%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.15 earnings per share. Sell-side analysts predict that Curtiss-Wright will post 10.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Monday. Robert W. Baird boosted their target price on shares of Curtiss-Wright from $300.00 to $312.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus lifted their price target on shares of Curtiss-Wright from $310.00 to $318.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $307.50.

Insider Transactions at Curtiss-Wright

In related news, Director Glenda J. Minor sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $302.80, for a total value of $151,400.00. Following the completion of the sale, the director now owns 1,382 shares in the company, valued at approximately $418,469.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 120 shares of company stock valued at $27,914 over the last ninety days. Corporate insiders own 0.67% of the company’s stock.

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.