Curtiss-Wright Co. (NYSE:CW) Announces $0.21 Quarterly Dividend

Curtiss-Wright Co. (NYSE:CW) declared a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders of record on Thursday, March 27th will be given a dividend of 0.21 per share by the aerospace company on Monday, April 14th. This represents a $0.84 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, March 27th.

Curtiss-Wright has increased its dividend by an average of 5.3% annually over the last three years. Curtiss-Wright has a dividend payout ratio of 6.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Curtiss-Wright to earn $11.81 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 7.1%.

Curtiss-Wright Price Performance

Shares of Curtiss-Wright stock opened at $350.33 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. Curtiss-Wright has a 12 month low of $224.18 and a 12 month high of $393.40. The stock has a 50 day moving average of $360.28 and a 200 day moving average of $338.68. The firm has a market cap of $13.29 billion, a PE ratio of 33.14, a PEG ratio of 2.47 and a beta of 1.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley boosted their price target on shares of Curtiss-Wright from $334.00 to $395.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Curtiss-Wright in a report on Thursday, December 5th. They issued a “buy” rating and a $452.00 target price on the stock. Alembic Global Advisors assumed coverage on shares of Curtiss-Wright in a report on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 price target for the company. Stifel Nicolaus cut Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price objective on the stock. in a research note on Monday, November 18th. Finally, Truist Financial raised their price objective on Curtiss-Wright from $333.00 to $357.00 and gave the company a “hold” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Curtiss-Wright presently has an average rating of “Moderate Buy” and a consensus target price of $386.86.

Insiders Place Their Bets

In related news, CEO Lynn M. Bamford sold 8,289 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $346.87, for a total value of $2,875,205.43. Following the completion of the transaction, the chief executive officer now owns 38,905 shares in the company, valued at $13,494,977.35. This trade represents a 17.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John C. Watts sold 622 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $347.05, for a total value of $215,865.10. Following the completion of the transaction, the vice president now directly owns 5,072 shares in the company, valued at $1,760,237.60. This represents a 10.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 116 shares of company stock worth $35,278 and have sold 23,064 shares worth $8,157,322. Insiders own 0.55% of the company’s stock.

About Curtiss-Wright

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.