Curtiss-Wright Co. (NYSE:CW) to Issue $0.20 Quarterly Dividend

Curtiss-Wright Co. (NYSE:CW) announced a quarterly dividend on Thursday, November 16th, 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 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Tuesday, November 21st.

Curtiss-Wright has increased its dividend by an average of 4.4% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Curtiss-Wright has a payout ratio of 7.9% indicating that 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 Stock Performance

NYSE:CW opened at $210.32 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.99 and a quick ratio of 1.30. Curtiss-Wright has a 1 year low of $156.76 and a 1 year high of $216.54. The stock’s 50 day simple moving average is $202.09 and its two-hundred day simple moving average is $190.54. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 23.60 and a beta of 1.19.

Curtiss-Wright (NYSE:CW) last released its quarterly earnings data on Wednesday, November 1st. The aerospace company reported $2.54 earnings per share (EPS) for the quarter, topping 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 business had revenue of $724.33 million for the quarter, compared to the consensus estimate of $682.88 million. During the same quarter in the previous year, the company posted $2.07 EPS. The company’s revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that Curtiss-Wright will post 9.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CW shares. Morgan Stanley raised Curtiss-Wright from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $188.00 to $229.00 in a research report on Monday, August 7th. StockNews.com raised Curtiss-Wright from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 15th. Robert W. Baird boosted their target price on Curtiss-Wright from $200.00 to $228.00 and gave the company an “outperform” rating in a research report on Friday, August 4th. Finally, Truist Financial boosted their target price on Curtiss-Wright from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Curtiss-Wright currently has a consensus rating of “Buy” and a consensus target price of $221.50.

Hedge Funds Weigh In On Curtiss-Wright

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

Curtiss-Wright Company Profile

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.