Curtiss-Wright (NYSE:CW) Cut to Hold at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Curtiss-Wright (NYSE:CW – Free Report) from a buy rating to a hold rating in a report issued on Saturday morning.

A number of other equities analysts also recently commented on the stock. Citigroup began coverage on shares of Curtiss-Wright in a research note on Thursday. They issued a “neutral” rating and a $607.00 target price on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Curtiss-Wright in a research note on Monday, December 8th. Stifel Nicolaus lifted their target price on Curtiss-Wright from $457.00 to $502.00 and gave the company a “hold” rating in a research report on Monday, October 20th. Truist Financial upped their target price on Curtiss-Wright from $525.00 to $537.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Finally, Morgan Stanley raised their price target on Curtiss-Wright from $565.00 to $645.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $569.33.

Check Out Our Latest Report on Curtiss-Wright

Curtiss-Wright Price Performance

CW opened at $547.44 on Friday. 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 business has a fifty day moving average of $559.58 and a 200 day moving average of $513.47. Curtiss-Wright has a 52-week low of $266.88 and a 52-week high of $612.28. The stock has a market cap of $20.19 billion, a P/E ratio of 44.62, a PEG ratio of 2.87 and a beta of 0.93.

Curtiss-Wright (NYSE:CW – Get Free Report) last released its earnings results on Thursday, November 6th. The aerospace company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.12. The business had revenue of $869.00 million during the quarter, compared to the consensus estimate of $869.03 million. Curtiss-Wright had a return on equity of 18.82% and a net margin of 13.78%.The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $2.89 earnings per share. As a group, sell-side analysts anticipate that Curtiss-Wright will post 12.32 EPS for the current year.

Curtiss-Wright Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, November 28th. Curtiss-Wright’s dividend payout ratio is presently 7.82%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. State Street Corp grew its holdings in Curtiss-Wright by 1.2% in the third quarter. State Street Corp now owns 1,436,161 shares of the aerospace company’s stock worth $780,091,000 after purchasing an additional 16,962 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Curtiss-Wright by 0.3% in the 3rd quarter. TD Asset Management Inc now owns 791,531 shares of the aerospace company’s stock worth $429,754,000 after purchasing an additional 2,153 shares in the last quarter. Van ECK Associates Corp grew its stake in Curtiss-Wright by 5.3% during the 3rd quarter. Van ECK Associates Corp now owns 740,033 shares of the aerospace company’s stock worth $401,794,000 after buying an additional 37,069 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Curtiss-Wright by 31.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 728,745 shares of the aerospace company’s stock worth $395,665,000 after buying an additional 174,592 shares during the last quarter. Finally, Norges Bank acquired a new position in Curtiss-Wright during the 2nd quarter valued at about $241,537,000. Institutional investors own 82.71% of the company’s stock.

About Curtiss-Wright

(Get Free Report)

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.

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