Curtiss-Wright Co. (NYSE:CW) Sees Large Growth in Short Interest

Curtiss-Wright Co. (NYSE:CW) was the recipient of a significant increase in short interest in November. As of November 30th, there was short interest totalling 400,500 shares, an increase of 36.3% from the November 15th total of 293,800 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 265,000 shares, the short-interest ratio is currently 1.5 days.

Curtiss-Wright Stock Up 0.2 %

Shares of CW traded up $0.65 during mid-day trading on Friday, hitting $366.92. The company’s stock had a trading volume of 173,687 shares, compared to its average volume of 226,525. The company’s 50-day moving average is $362.34 and its 200-day moving average is $316.84. The company has a current ratio of 1.98, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of 34.71, a PEG ratio of 2.96 and a beta of 1.18. Curtiss-Wright has a 52-week low of $212.05 and a 52-week high of $393.40.

Curtiss-Wright Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Friday, November 22nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, November 22nd. Curtiss-Wright’s payout ratio is currently 7.95%.

Analysts Set New Price Targets

CW has been the topic of several analyst reports. Morgan Stanley lifted their target price on Curtiss-Wright from $334.00 to $395.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Alembic Global Advisors assumed coverage on Curtiss-Wright in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 target price on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Curtiss-Wright in a research note on Thursday, December 5th. They issued a “buy” rating and a $452.00 price objective for the company. StockNews.com downgraded Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 23rd. Finally, Truist Financial upped their target price on Curtiss-Wright from $304.00 to $333.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Curtiss-Wright currently has a consensus rating of “Moderate Buy” and an average target price of $379.00.

Insider Transactions at Curtiss-Wright

In related news, VP John C. Watts sold 412 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $359.55, for a total transaction of $148,134.60. Following the transaction, the vice president now owns 4,183 shares in the company, valued at $1,503,997.65. This represents a 8.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lynn M. Bamford sold 7,129 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $368.80, for a total value of $2,629,175.20. Following the transaction, the chief executive officer now directly owns 28,688 shares in the company, valued at $10,580,134.40. The trade was a 19.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Institutional Trading of Curtiss-Wright

Several hedge funds and other institutional investors have recently made changes to their positions in CW. Geode Capital Management LLC increased its holdings in shares of Curtiss-Wright by 3.9% in the third quarter. Geode Capital Management LLC now owns 731,848 shares of the aerospace company’s stock valued at $240,606,000 after purchasing an additional 27,607 shares during the period. Congress Asset Management Co. grew its position in Curtiss-Wright by 136.8% during the third quarter. Congress Asset Management Co. now owns 459,074 shares of the aerospace company’s stock valued at $150,893,000 after buying an additional 265,205 shares during the period. International Assets Investment Management LLC increased its stake in shares of Curtiss-Wright by 32,425.8% in the 3rd quarter. International Assets Investment Management LLC now owns 404,946 shares of the aerospace company’s stock valued at $133,102,000 after purchasing an additional 403,701 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Curtiss-Wright by 7.3% during the 3rd quarter. Franklin Resources Inc. now owns 332,047 shares of the aerospace company’s stock valued at $115,469,000 after buying an additional 22,543 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position 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. Hedge funds and other institutional investors own 82.71% of the company’s stock.

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.