Curtiss-Wright (NYSE:CW) Downgraded by StockNews.com

Posted by on Jun 6th, 2023

Curtiss-Wright (NYSE:CW – Get Rating) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.

CW has been the subject of a number of other reports. William Blair began coverage on Curtiss-Wright in a research note on Friday, May 19th. They set an “outperform” rating for the company. Stifel Nicolaus upped their price target on Curtiss-Wright from $196.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Finally, Truist Financial upped their price target on Curtiss-Wright from $183.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.80.

Curtiss-Wright Price Performance

NYSE CW opened at $164.21 on Tuesday. The company has a 50-day moving average price of $168.68 and a 200-day moving average price of $169.43. The firm has a market capitalization of $6.30 billion, a P/E ratio of 20.42 and a beta of 1.25. The company has a quick ratio of 1.37, a current ratio of 2.15 and a debt-to-equity ratio of 0.60. Curtiss-Wright has a 52 week low of $124.37 and a 52 week high of $182.55.

Curtiss-Wright (NYSE:CW – Get Rating) last announced its quarterly earnings data on Wednesday, May 3rd. The aerospace company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.12. The company had revenue of $631.00 million during the quarter, compared to the consensus estimate of $585.49 million. Curtiss-Wright had a return on equity of 16.54% and a net margin of 11.81%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 EPS. Equities research analysts anticipate that Curtiss-Wright will post 8.82 earnings per share for the current year.

Insider Transactions at Curtiss-Wright

In other news, COO Kevin Rayment sold 1,055 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $171.00, for a total transaction of $180,405.00. Following the sale, the chief operating officer now directly owns 16,849 shares of the company’s stock, valued at approximately $2,881,179. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Kevin Rayment sold 1,055 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The stock was sold at an average price of $171.00, for a total transaction of $180,405.00. Following the sale, the chief operating officer now directly owns 16,849 shares of the company’s stock, valued at approximately $2,881,179. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lynn M. Bamford sold 1,337 shares of the stock in a transaction on Tuesday, March 21st. The shares were sold at an average price of $171.10, for a total value of $228,760.70. Following the sale, the chief executive officer now owns 18,998 shares in the company, valued at approximately $3,250,557.80. The disclosure for this sale can be found here. Insiders have sold 2,525 shares of company stock valued at $431,918 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Institutional Trading of Curtiss-Wright

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its stake in Curtiss-Wright by 17.7% in the first quarter. Ameriprise Financial Inc. now owns 763,131 shares of the aerospace company’s stock worth $134,511,000 after purchasing an additional 114,538 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Curtiss-Wright by 22.6% during the first quarter. JPMorgan Chase & Co. now owns 86,612 shares of the aerospace company’s stock worth $15,267,000 after purchasing an additional 15,946 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Curtiss-Wright by 2.2% during the first quarter. Rockefeller Capital Management L.P. now owns 10,493 shares of the aerospace company’s stock worth $1,849,000 after purchasing an additional 229 shares during the last quarter. Hancock Whitney Corp lifted its position in shares of Curtiss-Wright by 334.1% during the first quarter. Hancock Whitney Corp now owns 11,213 shares of the aerospace company’s stock worth $1,976,000 after purchasing an additional 8,630 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Curtiss-Wright by 3.6% during the first quarter. State Street Corp now owns 1,430,353 shares of the aerospace company’s stock worth $252,384,000 after purchasing an additional 50,200 shares during the last quarter. Hedge funds and other institutional investors own 84.95% of the company’s stock.

Curtiss-Wright Company Profile

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Curtiss-Wright Corp. is a global integrated business that provides engineered products, solutions, and services mainly to the aerospace and defense markets, as well as critical technologies in demanding commercial power, process, and industrial markets. It operates through the following three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.

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