Curtiss-Wright Co. (CW) to Issue Quarterly Dividend of $0.19 on July 1st

Curtiss-Wright Co. (NYSE:CW – Get Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders of record on Friday, June 17th will be given a dividend of 0.19 per share by the aerospace company on Friday, July 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, June 16th. This is a positive change from Curtiss-Wright’s previous quarterly dividend of $0.18.

Curtiss-Wright has raised its dividend by an average of 5.8% annually over the last three years and has increased its dividend every year for the last 1 years. Curtiss-Wright has a payout ratio of 8.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Curtiss-Wright to earn $8.73 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 8.2%.

NYSE CW opened at $137.37 on Friday. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 22.23 and a beta of 1.37. Curtiss-Wright has a one year low of $111.26 and a one year high of $162.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.64 and a quick ratio of 1.08. The business’s fifty day moving average is $148.55 and its 200-day moving average is $140.02.

Curtiss-Wright (NYSE:CW – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The aerospace company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.11. Curtiss-Wright had a return on equity of 15.35% and a net margin of 10.06%. The business had revenue of $559.46 million for the quarter, compared to analysts’ expectations of $579.97 million. During the same period in the previous year, the business posted $1.51 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts expect that Curtiss-Wright will post 8.2 EPS for the current fiscal year.

In other news, Chairman David Charles Adams sold 4,262 shares of the business’s stock in a transaction dated Wednesday, February 16th. The stock was sold at an average price of $137.25, for a total transaction of $584,959.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO K Christopher Farkas sold 435 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $144.66, for a total value of $62,927.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,335 shares of company stock worth $3,566,091. Company insiders own 0.62% of the company’s stock.

Several institutional investors have recently made changes to their positions in CW. BlackRock Inc. raised its holdings in shares of Curtiss-Wright by 18.8% during the first quarter. BlackRock Inc. now owns 4,300,543 shares of the aerospace company’s stock valued at $645,770,000 after acquiring an additional 680,850 shares in the last quarter. Allianz Asset Management GmbH bought a new position in shares of Curtiss-Wright during the first quarter valued at approximately $7,062,000. Federated Hermes Inc. raised its holdings in Curtiss-Wright by 638.9% in the first quarter. Federated Hermes Inc. now owns 50,341 shares of the aerospace company’s stock worth $7,559,000 after purchasing an additional 43,528 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Curtiss-Wright by 2.7% in the first quarter. Dimensional Fund Advisors LP now owns 638,153 shares of the aerospace company’s stock worth $95,828,000 after purchasing an additional 16,948 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC raised its holdings in Curtiss-Wright by 159.0% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 25,904 shares of the aerospace company’s stock worth $3,592,000 after purchasing an additional 15,904 shares in the last quarter. Institutional investors own 81.61% of the company’s stock.

CW has been the topic of a number of research reports. StockNews.com cut Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research note on Friday. Morgan Stanley upped their price target on Curtiss-Wright from $180.00 to $189.00 and gave the company an “overweight” rating in a research report on Tuesday, March 1st. Finally, Berenberg Bank began coverage on Curtiss-Wright in a research report on Friday, January 21st. They set a “buy” rating and a $170.00 price target on the stock.

About Curtiss-Wright (Get Rating)

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

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