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Christopher Farkas, Vice President and CFO of Curtiss-Wright Corp (NYSE:CW), recently sold shares of the company’s common stock valued at $851,191. The transaction comes as the company’s stock has shown remarkable strength, delivering a 55.75% return over the past year and reaching a market capitalization of $13.31 billion. The sale, which took place on February 5, involved 2,453 shares at a price of $347 per share. This transaction follows an acquisition of 5,912 shares on February 4, awarded through a performance share grant under the company’s 2014 Long Term Incentive Plan. Following these transactions, Farkas now holds 12,712 shares in the company. According to InvestingPro analysis, Curtiss-Wright is currently trading above its Fair Value, with the company scheduled to report earnings in 7 days. Subscribers can access 15+ additional ProTips and comprehensive earnings analysis on the platform.
In other recent news, Curtiss-Wright Corporation has been active in a series of significant developments. The company has declared a quarterly dividend of $0.21 per share, scheduled for payment in April. Additionally, Curtiss-Wright secured a $27 million contract with the U.S. Navy to supply Aircraft Ship Integrated Securing and Traversing (ASIST) systems, part of a larger agreement potentially worth close to $100 million.
Citi initiated coverage on Curtiss-Wright shares with a Buy rating, projecting the company to become net cash positive by 2026, supported by an expected 13% earnings growth through 2027. In a $200 million cash transaction, Curtiss-Wright recently acquired Ultra Energy, a provider of critical measurement and control systems, expected to enhance the company’s global commercial nuclear portfolio.
In another strategic move, Curtiss-Wright expanded its share repurchase program by $100 million, with completion targeted by the end of 2024, demonstrating the company’s commitment to delivering shareholder value. These noteworthy events highlight the recent developments within Curtiss-Wright Corporation.
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