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

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

Curtiss-Wright Stock Performance

Shares of CW stock traded up $0.29 during trading hours on Friday, hitting $366.56. The company’s stock had a trading volume of 173,595 shares, compared to its average volume of 226,525. 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 company has a 50 day moving average of $361.76 and a 200 day moving average of $315.97. Curtiss-Wright has a 12-month low of $212.05 and a 12-month high of $393.40. The stock has a market cap of $13.91 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.96 and a beta of 1.18.

Curtiss-Wright Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Lynn M. Bamford sold 7,129 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $368.80, for a total transaction of $2,629,175.20. Following the completion of the sale, the chief executive officer now directly owns 28,688 shares in the company, valued at $10,580,134.40. This represents a 19.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP John C. Watts sold 412 shares of the firm’s 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 directly owns 4,183 shares in the company, valued at approximately $1,503,997.65. The trade was a 8.97 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Curtiss-Wright

Several institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new position in Curtiss-Wright in the second quarter valued at $41,383,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Curtiss-Wright by 30,079.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 302,396 shares of the aerospace company’s stock worth $81,943,000 after purchasing an additional 301,394 shares in the last quarter. Magnetar Financial LLC purchased a new position in Curtiss-Wright during the second quarter worth approximately $3,025,000. Allspring Global Investments Holdings LLC grew its holdings in Curtiss-Wright by 22.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 93,098 shares of the aerospace company’s stock valued at $25,228,000 after purchasing an additional 16,815 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Curtiss-Wright in the third quarter valued at approximately $542,000. Institutional investors and hedge funds own 82.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CW. Stifel Nicolaus lowered Curtiss-Wright from a “buy” rating to a “hold” rating and set a $370.00 price objective for the company. in a report on Monday, November 18th. Alembic Global Advisors assumed coverage on Curtiss-Wright in a report on Tuesday, October 29th. They issued an “overweight” rating and a $412.00 price target for the company. Truist Financial upped 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. StockNews.com downgraded shares of Curtiss-Wright from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Curtiss-Wright in a report on Thursday, December 5th. They issued a “buy” rating and a $452.00 price target for the company. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Curtiss-Wright has a consensus rating of “Moderate Buy” and an average target price of $379.00.

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.