Investors tracking executive moves at Curtiss Wright Corp (NYSE:CW) may be interested to learn that Chair and CEO Lynn M. Bamford recently engaged in significant trading activity involving company stock. On March 19, Bamford sold 2,620 shares of common stock at a price of $243.60 per share, totaling over $638,000.
The transactions were disclosed in a recent SEC filing, which also noted that these shares were disposed of in accordance with the company's share ownership guidelines. The guidelines allow executives to sell a portion of their vested awards to cover tax obligations associated with the vesting. Following the sale, Bamford's direct ownership in the company stands at 35,773 shares of common stock.
In addition to the sale, Bamford also acquired 5,920 shares on the same day through a restricted share unit grant under the company's 2014 Long Term Incentive Plan. These units vest in common stock shares of Curtiss-Wright (NYSE:CW) after a three-year period. However, no monetary value was associated with this acquisition as the shares were granted as part of an employee benefit transaction and there was no price on the date of issue.
The transaction details, including the number of shares and the prices per share, provide a glimpse into the trading behavior of top executives at Curtiss Wright, which specializes in various industrial and commercial machinery and equipment. The company, incorporated in Delaware and with a fiscal year ending on December 31, is headquartered in Davidson, North Carolina.
Investors often monitor such filings for insights into executives' perspectives on the company's performance and future prospects. Bamford's recent actions reflect a mix of acquiring stock through incentive plans and selling shares to manage tax implications, a common practice among corporate executives.
InvestingPro Insights
In light of recent executive trading at Curtiss Wright Corp (NYSE:CW), investors might find the following InvestingPro Insights particularly informative. The company boasts a robust Piotroski Score of 9, indicating strong financial health, which may reassure investors about the stability of their investment. In addition, Curtiss Wright has demonstrated a commitment to shareholder returns, having raised its dividend for 7 consecutive years. This track record of dividend growth could be a key consideration for income-focused investors.
On the financial metrics front, Curtiss Wright has a market capitalization of $9.33 billion and trades at a forward P/E ratio of 26.39. This valuation is slightly high when considering the near-term earnings growth, as reflected by the company's PEG ratio of 1.27 for the last twelve months as of Q4 2023. Despite a high Price / Book multiple of 4.01, the company's revenue has grown by 11.28% over the same period, showcasing its ability to increase sales.
For investors seeking additional insights and analysis, there are more InvestingPro Tips available. By visiting https://www.investing.com/pro/CW, you can explore comprehensive data and expert commentary to further inform your investment decisions. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and discover the numerous other InvestingPro Tips, including the company's debt management, stock volatility, and profitability predictions.
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