In a recent transaction, Paul J. Ferdenzi, Vice President and Corporate Secretary of Curtiss Wright Corp (NYSE:CW), sold 2,500 shares of the company's common stock, netting a total of $625,000. The sale was conducted at a price of $250 per share, as disclosed in a filing with the Securities and Exchange Commission.
The transaction took place on March 22, 2024, and was executed in accordance with a 10b5-1 trading plan, which allows corporate insiders to set up a predetermined plan for buying or selling securities. Ferdenzi's sale was also in compliance with the company's share ownership guidelines, ensuring that executives maintain a certain level of investment in the company. Following the sale, Ferdenzi remains in compliance with these guidelines, holding more than three times his base salary in Curtiss Wright common stock.
Curtiss Wright, an established player in the industrial and commercial machinery sector, has seen its shares trade actively on the New York Stock Exchange. The company's stock performance and insider transactions are closely watched by investors, as they can provide insights into the company's financial health and executive confidence.
The recent sale by Ferdenzi does not appear to have altered his overall investment stance in the company significantly, as he still owns a substantial number of shares post-transaction. This information, along with other details of the transaction, can be found in the public records of the SEC filing.
InvestingPro Insights
Amid the recent insider sale by Paul J. Ferdenzi at Curtiss Wright Corp (NYSE:CW), investors may be interested in several key metrics that shed light on the company's current financial health and future prospects. According to InvestingPro data, Curtiss Wright boasts a market capitalization of $9.55 billion, reflecting its substantial presence in the industrial and commercial machinery sector. The company's P/E ratio stands at 27.04, suggesting a premium valuation compared to near-term earnings growth.
Investors should note that Curtiss Wright has demonstrated a consistent ability to grow its revenue, with an 11.28% increase over the last twelve months as of Q1 2023. This growth trajectory is further supported by a solid gross profit margin of 37.51%, indicating efficient operations and cost control. Additionally, the company's commitment to shareholder returns is evidenced by a dividend yield of 0.32% and a track record of raising its dividend for 7 consecutive years, which is particularly attractive for income-focused investors.
For those considering an investment in Curtiss Wright, it's worth exploring the additional 15 InvestingPro Tips available, which provide deeper insights into the company's performance and valuation metrics. These tips include observations on the stock's price volatility, debt levels, and analyst profitability predictions. Potential investors can access these valuable tips by visiting the dedicated InvestingPro page for Curtiss Wright at https://www.investing.com/pro/CW. Moreover, using the coupon code PRONEWS24 will secure an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering an even greater advantage in making informed investment decisions.
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