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Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corp (NYSE:CW), recently acquired shares of the company valued at $10,340. According to a recent SEC filing, Bamford purchased 34 shares of Curtiss-Wright common stock at a price of $304.12 per share. The purchase comes as the stock has shown remarkable strength, delivering a 61% return over the past year. With a market capitalization of $13.2 billion, Curtiss-Wright maintains a strong financial health score according to InvestingPro analysis.
These shares were acquired through the company's Employee Stock Purchase Plan, which allows participants to buy shares at a discounted rate. The company has demonstrated remarkable stability, maintaining dividend payments for 51 consecutive years. InvestingPro subscribers can access 14 additional investment tips and comprehensive analysis for Curtiss-Wright. Following this transaction, Bamford now holds a total of 28,448 shares directly.
In other recent news, Curtiss-Wright Corporation has completed a $200 million acquisition of Ultra Energy, a provider of critical measurement and control systems for the Commercial Nuclear and Aerospace & Defense markets. The company has also reported a 10% year-over-year sales increase to nearly $800 million in the third quarter of 2024, primarily fueled by growth in the Defense Electronics and Naval & Power segments. This performance led to the company raising its full-year 2024 guidance, now expecting sales growth of 7% to 9% and diluted EPS growth of 12% to 15%. Deutsche Bank (ETR:DBKGn) initiated coverage on Curtiss-Wright stock with a Buy rating.
Curtiss-Wright has also announced two new stock repurchase plans set to commence in 2025, with a total budget of $160 million. This is part of the company's ongoing initiative to return value to shareholders. In addition, the company declared a quarterly dividend of $0.21 per share. Stifel and Truist Securities have both increased their price targets for Curtiss-Wright. These recent developments reflect the company's strategic investments and partnerships, particularly in the commercial nuclear and defense sectors, which are driving its growth.
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