Curtiss-Wright Co. (NYSE:CW) Short Interest Up 57.4% in April

Curtiss-Wright Co. (NYSE:CW) saw a large increase in short interest in April. As of April 15th, there was short interest totalling 323,500 shares, an increase of 57.4% from the March 31st total of 205,500 shares. Based on an average daily trading volume, of 194,100 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.9% of the company’s stock are sold short.

Curtiss-Wright Stock Performance

Shares of CW opened at $254.01 on Friday. The company has a 50-day moving average of $246.71 and a two-hundred day moving average of $226.59. The stock has a market cap of $9.72 billion, a P/E ratio of 27.61 and a beta of 1.18. The company has a current ratio of 2.13, a quick ratio of 1.50 and a debt-to-equity ratio of 0.45. Curtiss-Wright has a 12-month low of $157.72 and a 12-month high of $261.46.

Curtiss-Wright (NYSE:CW) last posted its quarterly earnings data on Thursday, February 15th. The aerospace company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.24. Curtiss-Wright had a net margin of 12.46% and a return on equity of 16.61%. The company had revenue of $785.79 million during the quarter, compared to analyst estimates of $737.09 million. During the same quarter last year, the firm posted $2.92 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts predict that Curtiss-Wright will post 10.16 EPS for the current fiscal year.

Curtiss-Wright Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Wednesday, March 27th. Curtiss-Wright’s payout ratio is 8.70%.

Insiders Place Their Bets

In other Curtiss-Wright news, VP Paul J. Ferdenzi sold 2,500 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $250.00, for a total transaction of $625,000.00. Following the sale, the vice president now directly owns 15,942 shares in the company, valued at approximately $3,985,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Paul J. Ferdenzi sold 2,500 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $250.00, for a total value of $625,000.00. Following the sale, the vice president now directly owns 15,942 shares in the company, valued at approximately $3,985,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lynn M. Bamford sold 2,620 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $243.60, for a total transaction of $638,232.00. Following the completion of the sale, the chief executive officer now owns 35,773 shares in the company, valued at $8,714,302.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,451 shares of company stock worth $3,030,512 in the last ninety days. 0.67% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Contravisory Investment Management Inc. acquired a new stake in shares of Curtiss-Wright during the fourth quarter worth approximately $25,000. First Horizon Advisors Inc. boosted its holdings in shares of Curtiss-Wright by 1,100.0% during the third quarter. First Horizon Advisors Inc. now owns 144 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 132 shares during the period. Montag A & Associates Inc. boosted its holdings in shares of Curtiss-Wright by 67.0% during the third quarter. Montag A & Associates Inc. now owns 152 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 61 shares during the period. FSC Wealth Advisors LLC acquired a new stake in shares of Curtiss-Wright during the third quarter worth approximately $32,000. Finally, Creekmur Asset Management LLC acquired a new stake in Curtiss-Wright in the fourth quarter valued at approximately $32,000. 82.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Curtiss-Wright from $255.00 to $272.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Truist Financial reissued a “hold” rating and set a $240.00 price objective (down from $250.00) on shares of Curtiss-Wright in a research report on Monday, March 25th. StockNews.com downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Robert W. Baird raised their price objective on shares of Curtiss-Wright from $246.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $260.25.

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.