Curtiss-Wright Co. Declares Quarterly Dividend of $0.20 (NYSE:CW)

Curtiss-Wright Co. (NYSE:CW) announced a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Shareholders of record on Wednesday, November 22nd will be given a dividend of 0.20 per share by the aerospace company on Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, November 21st.

Curtiss-Wright has increased its dividend by an average of 4.4% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Curtiss-Wright has a dividend payout ratio of 7.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Curtiss-Wright to earn $10.02 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 8.0%.

Curtiss-Wright Price Performance

Shares of CW traded down $0.68 during trading hours on Friday, reaching $210.32. The stock had a trading volume of 128,751 shares, compared to its average volume of 161,349. Curtiss-Wright has a 12 month low of $156.76 and a 12 month high of $216.54. The stock has a market capitalization of $8.04 billion, a PE ratio of 23.70 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.30 and a current ratio of 1.99. The company’s 50-day moving average is $201.87 and its two-hundred day moving average is $189.99.

Curtiss-Wright (NYSE:CW) last announced its quarterly earnings results on Wednesday, November 1st. The aerospace company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.12. Curtiss-Wright had a return on equity of 16.85% and a net margin of 12.20%. The company had revenue of $724.33 million during the quarter, compared to analysts’ expectations of $682.88 million. During the same period in the prior year, the company earned $2.07 EPS. Curtiss-Wright’s revenue was up 14.9% compared to the same quarter last year. Research analysts expect that Curtiss-Wright will post 9.14 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CW. Morgan Stanley upgraded Curtiss-Wright from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $188.00 to $229.00 in a report on Monday, August 7th. Robert W. Baird increased their price target on Curtiss-Wright from $200.00 to $228.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Truist Financial increased their price target on Curtiss-Wright from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Finally, StockNews.com upgraded Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $221.50.

Hedge Funds Weigh In On Curtiss-Wright

Hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. purchased a new stake in shares of Curtiss-Wright during the 2nd quarter worth approximately $28,000. Wellington Shields & Co. LLC purchased a new position in Curtiss-Wright in the 4th quarter valued at approximately $43,000. Covestor Ltd grew its stake in Curtiss-Wright by 91.3% in the 1st quarter. Covestor Ltd now owns 350 shares of the aerospace company’s stock valued at $53,000 after buying an additional 167 shares in the last quarter. Belpointe Asset Management LLC grew its stake in Curtiss-Wright by 40.2% in the 1st quarter. Belpointe Asset Management LLC now owns 453 shares of the aerospace company’s stock valued at $80,000 after buying an additional 130 shares in the last quarter. Finally, Atlas Capital Advisors LLC purchased a new position in Curtiss-Wright in the 4th quarter valued at approximately $88,000. Institutional investors own 80.82% of the company’s stock.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, provides engineered products, solutions, and services to the aerospace, defense, general industrial, and power generation markets worldwide. It operates through three segments: Aerospace & Industrial, Defense Electronics, and Naval & Power.