Curtiss-Wright Corp. (CW) Raises Dividend to $0.17 Per Share
Curtiss-Wright Corp. (NYSE:CW) declared a quarterly dividend on Wednesday, May 15th, RTT News reports. Shareholders of record on Thursday, June 20th will be paid a dividend of 0.17 per share by the aerospace company on Friday, July 5th. This represents a $0.68 dividend on an annualized basis and a yield of 0.60%. This is an increase from Curtiss-Wright’s previous quarterly dividend of $0.15.
Curtiss-Wright has raised its dividend by an average of 4.9% per year over the last three years and has raised its dividend every year for the last 7 years. Curtiss-Wright has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Curtiss-Wright to earn $7.55 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 7.9%.
CW stock traded up $1.23 during mid-day trading on Wednesday, reaching $114.10. The company had a trading volume of 202,304 shares, compared to its average volume of 291,571. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.05 and a quick ratio of 1.31. The company has a market capitalization of $4.68 billion, a P/E ratio of 17.90, a P/E/G ratio of 2.19 and a beta of 1.24. Curtiss-Wright has a 12 month low of $95.23 and a 12 month high of $141.29.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Curtiss-Wright from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a research note on Wednesday. ValuEngine downgraded shares of Curtiss-Wright from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Bank of America downgraded shares of Curtiss-Wright from a “buy” rating to a “neutral” rating and set a $135.00 price objective on the stock. in a research note on Friday, March 1st. They noted that the move was a valuation call. Finally, Robert W. Baird increased their price objective on shares of Curtiss-Wright from $123.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Curtiss-Wright presently has an average rating of “Buy” and a consensus target price of $134.29.
In related news, Director S Marce Fuller sold 1,250 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $121.07, for a total transaction of $151,337.50. Following the completion of the sale, the director now owns 11,222 shares of the company’s stock, valued at $1,358,647.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Charles Adams sold 7,000 shares of the stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $120.00, for a total transaction of $840,000.00. Following the sale, the chief executive officer now directly owns 80,149 shares of the company’s stock, valued at approximately $9,617,880. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.
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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