Short Interest in Curtiss-Wright Corp. (NYSE:CW) Drops By 21.5%

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Curtiss-Wright Corp. (NYSE:CW) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 384,400 shares, a decline of 21.5% from the October 31st total of 489,700 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 183,300 shares, the days-to-cover ratio is presently 2.1 days.

NYSE CW traded up $1.12 during trading on Wednesday, hitting $137.17. The company had a trading volume of 278,157 shares, compared to its average volume of 249,291. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.52. Curtiss-Wright has a one year low of $95.23 and a one year high of $142.97. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 2.31 and a beta of 1.17. The company’s fifty day moving average is $134.86 and its 200-day moving average is $126.13.

Curtiss-Wright (NYSE:CW) last issued its quarterly earnings results on Wednesday, October 30th. The aerospace company reported $1.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.12. The company had revenue of $614.88 million during the quarter, compared to analyst estimates of $624.15 million. Curtiss-Wright had a net margin of 12.13% and a return on equity of 18.83%. Curtiss-Wright’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $1.70 EPS. As a group, equities analysts anticipate that Curtiss-Wright will post 7.19 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 29th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Wednesday, November 27th. Curtiss-Wright’s dividend payout ratio (DPR) is 10.68%.

In other Curtiss-Wright news, CEO David Charles Adams sold 6,439 shares of Curtiss-Wright stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $125.00, for a total value of $804,875.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Glenn E. Tynan sold 1,444 shares of Curtiss-Wright stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $140.32, for a total transaction of $202,622.08. Following the completion of the sale, the chief financial officer now directly owns 35,282 shares in the company, valued at approximately $4,950,770.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,498 shares of company stock worth $5,414,628. 0.90% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale purchased a new position in shares of Curtiss-Wright in the second quarter worth approximately $35,000. Old North State Trust LLC purchased a new position in shares of Curtiss-Wright in the third quarter worth approximately $55,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Curtiss-Wright in the second quarter worth approximately $60,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Curtiss-Wright in the second quarter worth approximately $94,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Curtiss-Wright in the second quarter worth approximately $102,000. 76.81% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on CW. ValuEngine lowered shares of Curtiss-Wright from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Stifel Nicolaus set a $150.00 price objective on shares of Curtiss-Wright and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Zacks Investment Research raised shares of Curtiss-Wright from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Curtiss-Wright currently has an average rating of “Hold” and a consensus price target of $141.00.

About Curtiss-Wright

Curtiss-Wright Corporation, together with its subsidiaries, designs, manufactures, and overhauls precision components, and engineered products and services primarily to the aerospace, defense, general industrial, and power generation markets worldwide. The company operates through three segments: Commercial/Industrial, Defense, and Power.

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