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Lynn M. Bamford, Chair and CEO of Curtiss-Wright Corp (NYSE:CW), recently reported a significant transaction involving the company’s common stock. According to the SEC filing, Bamford sold 8,289 shares on February 5, 2025, at an average price of $346.87 per share, amounting to a total of approximately $2.88 million. This sale was conducted to comply with the company’s share ownership guidelines, allowing the executive to cover tax obligations related to vested shares. The transaction comes as Curtiss-Wright, currently valued at $13.3 billion, trades near its 52-week high of $393.40, with InvestingPro analysis indicating the stock is trading above its Fair Value.
Additionally, on February 4, 2025, Bamford acquired 18,746 shares through a performance share grant under the company’s Long Term Incentive Plan. These shares were valued at $344.57 each, based on the closing price on the New York Stock Exchange on the vesting date, totaling approximately $6.46 million. Following these transactions, Bamford’s direct ownership stands at 38,905 shares. The stock has demonstrated strong performance, delivering a 55.7% return over the past year and 32.5% over the last six months. For deeper insights into Curtiss-Wright’s valuation and 15+ additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Curtiss-Wright Corporation has been making significant strides in its financial and business activities. The company recently declared a quarterly dividend of $0.21 per share, reaffirming its commitment to delivering shareholder value. In addition, Curtiss-Wright secured a $27 million contract from the U.S. Navy to supply its Aircraft Ship Integrated Securing and Traversing systems, a part of a larger agreement potentially worth close to $100 million.
Curtiss-Wright also recently acquired Ultra Energy for $200 million, a move expected to enhance its global commercial nuclear portfolio and support its long-term financial objectives. Ultra Energy, a provider of critical measurement and control systems, reported sales of about $65 million in 2023.
Curtiss-Wright has also expanded its share repurchase program by $100 million, aiming to complete the buyback by the end of 2024. The increase in the buyback program reflects the company’s strategy to enhance shareholder value and its confidence in its future financial performance.
Citi initiated coverage on Curtiss-Wright shares with a Buy rating, predicting a net cash positive status by 2026 due to debt reduction and expected 13% earnings growth through 2027. These recent developments indicate Curtiss-Wright’s ongoing commitment to its financial strategies and market position within the defense sector.
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