Curtiss-Wright (NYSE:CW) Trading Down 7.3% – Time to Sell?

Curtiss-Wright Co. (NYSE:CW) shares fell 7.3% on Thursday . The company traded as low as $356.16 and last traded at $357.36. 250,550 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 222,732 shares. The stock had previously closed at $385.42.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CW. Morgan Stanley raised their price objective on shares of Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Stifel Nicolaus raised their price objective on shares of Curtiss-Wright from $318.00 to $361.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird raised their price objective on shares of Curtiss-Wright from $300.00 to $312.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Truist Financial raised their price objective on shares of Curtiss-Wright from $304.00 to $333.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, StockNews.com lowered shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $362.60.

Curtiss-Wright Price Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 1.98. The stock’s 50-day moving average is $342.77 and its 200 day moving average is $303.37. The stock has a market capitalization of $13.60 billion, a PE ratio of 33.88 and a beta of 1.17.

Curtiss-Wright Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 22nd will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.23%. The ex-dividend date is Friday, November 22nd. Curtiss-Wright’s payout ratio is currently 7.95%.

Insiders Place Their Bets

In other news, VP John C. Watts sold 412 shares of Curtiss-Wright stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $359.55, for a total value of $148,134.60. Following the sale, the vice president now owns 4,183 shares of the company’s stock, valued at $1,503,997.65. The trade was a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is currently owned by insiders.

Institutional Trading of Curtiss-Wright

Several hedge funds and other institutional investors have recently made changes to their positions in CW. International Assets Investment Management LLC boosted its holdings in shares of Curtiss-Wright by 32,425.8% in the third quarter. International Assets Investment Management LLC now owns 404,946 shares of the aerospace company’s stock valued at $133,102,000 after acquiring an additional 403,701 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Curtiss-Wright by 30,079.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 302,396 shares of the aerospace company’s stock valued at $81,943,000 after purchasing an additional 301,394 shares during the period. Congress Asset Management Co. lifted its stake in shares of Curtiss-Wright by 136.8% in the third quarter. Congress Asset Management Co. now owns 459,074 shares of the aerospace company’s stock valued at $150,893,000 after purchasing an additional 265,205 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Curtiss-Wright in the second quarter valued at about $41,383,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Curtiss-Wright in the third quarter valued at about $47,220,000. Hedge funds and other institutional investors own 82.71% 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.