Curtiss-Wright Corporation (CW): Among Aerospace and Defense Stocks with the Largest 5Y Share Price Returns

Curtiss-Wright Corporation (NYSE:CW) is among the 8 Aerospace and Defense Stocks with the Largest 5Y Share Price Returns, having appreciated by more than 500% over the period.

Wall Street has a Moderate Buy rating on the stock with an average share price upside potential of 7%, as of the close on June 29. Recent updates include William Blair analyst Louie DiPalma, who reiterated the firm’s Buy rating on the stock on June 4, according to a report on TipRanks.

Last month, Curtiss-Wright Corporation (NYSE:CW) said it had reached a new credit agreement with a group of banks, which has lifted the size of its revolving credit facility to $1 billion. This has also expanded the accordion feature to $500 million.

The new facility will mature in May 2031. The company intends to use the funds for general corporate purposes, including potential future acquisitions and internal growth initiatives.

In other news, the company reported sales of $914 million for the first quarter, increasing 13% year-over-year. Operating income grew 23% to $160 million, while operating margin stood at 17.5%. Diluted EPS came in at $3.46, improving from $2.68 in the prior year’s period.

New orders totaled $1.2 billion, up 16% from the prior year’s period. Curtiss-Wright ended the quarter with a backlog of $4.3 billion, increasing 5% sequentially. Following the results, the management lifted its guidance for the fiscal year across all major metrics.

Curtiss-Wright Corporation (NYSE:CW) is an integrated business that provides engineered products, solutions, and services for the aerospace and defense markets.

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