Curtiss-Wright (NYSE:CW) Shares Gap Up After Strong Earnings

Curtiss-Wright Co. (NYSE:CW)’s stock price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $341.94, but opened at $360.00. Curtiss-Wright shares last traded at $347.15, with a volume of 45,192 shares changing hands.

The aerospace company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.12 by $0.15. Curtiss-Wright had a net margin of 13.20% and a return on equity of 17.21%.

Curtiss-Wright Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 14th. Stockholders of record on Thursday, March 27th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, March 27th. Curtiss-Wright’s dividend payout ratio is currently 7.95%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley lifted their price objective on Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Alembic Global Advisors assumed coverage on Curtiss-Wright in a report on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 price objective for the company. Truist Financial lifted their price objective on Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a report on Tuesday, January 14th. Citigroup assumed coverage on Curtiss-Wright in a report on Tuesday, January 21st. They issued a “buy” rating and a $410.00 price objective for the company. Finally, Stifel Nicolaus downgraded Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price objective for the company. in a report on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $386.86.

Insider Activity at Curtiss-Wright

In other Curtiss-Wright news, VP John C. Watts sold 622 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $347.05, for a total value of $215,865.10. Following the sale, the vice president now owns 5,072 shares in the company, valued at approximately $1,760,237.60. This represents a 10.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Lynn M. Bamford sold 7,129 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $368.80, for a total value of $2,629,175.20. Following the completion of the sale, the chief executive officer now owns 28,688 shares in the company, valued at approximately $10,580,134.40. This represents a 19.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 116 shares of company stock worth $35,278 and have sold 23,064 shares worth $8,157,322. 0.67% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Curtiss-Wright by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 3,634,028 shares of the aerospace company’s stock valued at $1,289,608,000 after purchasing an additional 15,890 shares during the last quarter. Invesco Ltd. raised its stake in Curtiss-Wright by 6.4% in the 4th quarter. Invesco Ltd. now owns 1,417,445 shares of the aerospace company’s stock valued at $503,009,000 after purchasing an additional 84,635 shares during the last quarter. TD Asset Management Inc. raised its stake in Curtiss-Wright by 16.2% in the 4th quarter. TD Asset Management Inc. now owns 766,413 shares of the aerospace company’s stock valued at $271,977,000 after purchasing an additional 107,115 shares during the last quarter. Geode Capital Management LLC raised its stake in Curtiss-Wright by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 743,934 shares of the aerospace company’s stock valued at $264,071,000 after purchasing an additional 12,086 shares during the last quarter. Finally, Alliancebernstein L.P. raised its stake in Curtiss-Wright by 1.2% in the 4th quarter. Alliancebernstein L.P. now owns 592,326 shares of the aerospace company’s stock valued at $210,199,000 after purchasing an additional 6,971 shares during the last quarter. 82.71% of the stock is owned by institutional investors and hedge funds.

Curtiss-Wright Trading Down 1.3 %

The company has a 50 day moving average of $357.59 and a 200 day moving average of $341.00. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 1.98. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of 31.94, a P/E/G ratio of 2.50 and a beta of 1.19.

Curtiss-Wright Company Profile

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.