Curtiss-Wright Corp. (CW) Rating Lowered to Sell at Zacks Investment Research
Curtiss-Wright Corp. (NYSE:CW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.
According to Zacks, “CURTISS-WRIGHT CORP. produces precision components for the aerospace, industrial and marine companies. Aerospace components consist of control and actuation systems. Co. also provides shot-perring & heat treating for industrial markets and the target rock subsidiary produces engineered valves for the United States Navy. “
CW has been the topic of a number of other research reports. William Blair assumed coverage on shares of Curtiss-Wright Corp. in a research note on Wednesday, August 3rd. They set a “market perform” rating and a $92.00 price objective on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $95.00 price objective (up previously from $89.00) on shares of Curtiss-Wright Corp. in a research note on Monday, June 13th.
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Shares of Curtiss-Wright Corp. (NYSE:CW) traded up 0.56% on Monday, hitting $88.36. The company had a trading volume of 199,922 shares. The company has a 50 day moving average of $89.25 and a 200-day moving average of $84.00. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 23.00 and a beta of 1.27. Curtiss-Wright Corp. has a 12-month low of $62.57 and a 12-month high of $92.08.
Curtiss-Wright Corp. (NYSE:CW) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.07. Curtiss-Wright Corp. had a net margin of 8.21% and a return on equity of 14.15%. The business had revenue of $532.80 million for the quarter, compared to analyst estimates of $523.84 million. During the same quarter last year, the business earned $0.83 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts forecast that Curtiss-Wright Corp. will post $4.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, October 7th will be given a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.52 annualized dividend and a yield of 0.59%. Curtiss-Wright Corp.’s dividend payout ratio (DPR) is 13.58%.
In other Curtiss-Wright Corp. news, Director John B. Nathman sold 6,000 shares of Curtiss-Wright Corp. stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $90.77, for a total transaction of $544,620.00. Following the transaction, the director now directly owns 5,455 shares in the company, valued at approximately $495,150.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Tom P. Quinly sold 8,500 shares of Curtiss-Wright Corp. stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $89.78, for a total transaction of $763,130.00. Following the transaction, the vice president now owns 27,258 shares in the company, valued at $2,447,223.24. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of CW. State Street Corp boosted its position in Curtiss-Wright Corp. by 48.4% in the first quarter. State Street Corp now owns 1,558,198 shares of the company’s stock valued at $117,910,000 after buying an additional 508,349 shares during the last quarter. Retirement Systems of Alabama boosted its position in Curtiss-Wright Corp. by 160.0% in the second quarter. Retirement Systems of Alabama now owns 149,280 shares of the company’s stock valued at $12,577,000 after buying an additional 91,863 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Curtiss-Wright Corp. by 141.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 635,740 shares of the company’s stock valued at $48,106,000 after buying an additional 372,806 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Curtiss-Wright Corp. by 121.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 72,392 shares of the company’s stock valued at $5,478,000 after buying an additional 39,664 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Curtiss-Wright Corp. by 56,763.9% in the second quarter. BNP Paribas Arbitrage SA now owns 20,471 shares of the company’s stock valued at $1,725,000 after buying an additional 20,435 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.
About Curtiss-Wright Corp.
Curtiss-Wright Corporation is a provider of engineered products and services to the commercial, defense, energy and industrial markets. The Company operates through three segments: Commercial/Industrial, which provides a diversified offering of engineered products and services supporting applications primarily across the commercial aerospace and general industrial markets; Defense, which consists of businesses that primarily provide products to the defense markets and to the commercial aerospace market, and Power, which consists of businesses that primarily provide products to the power generation markets and to the naval defense market.
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