Curtiss Wright Corp's (NYSE:CW) Vice President and Corporate Secretary, Paul J. Ferdenzi, recently sold shares of the company's stock. The transaction, which took place on March 19, 2024, involved the sale of 845 shares at a price of $243.65 each, totaling over $205,884.
The sale was conducted in compliance with the company's share ownership guidelines, which allow executives to sell a portion of their vested awards to cover tax obligations associated with the vesting of these awards. Following this sale, Ferdenzi's direct ownership in Curtiss Wright Corp has decreased to 18,442 shares of common stock.
In addition to the sale, Ferdenzi also acquired 1,904 shares of common stock through the vesting of restricted share units under the company's 2014 Long Term Incentive Plan. These units vest in common stock shares after a three-year period. Notably, there was no transaction price associated with this acquisition as the shares were granted as an employee benefit.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission. Investors often monitor these filings to gain insight into executives' views on their company's stock performance and future prospects.
Curtiss Wright Corp, with its headquarters in Davidson, North Carolina, operates in the industrial and commercial machinery and equipment sector. The company's shares are traded on the New York Stock Exchange under the ticker symbol CW.
InvestingPro Insights
Curtiss Wright Corp's (NYSE:CW) recent insider trading activity provides an opportunity to delve into the company's financial health and market performance through the lens of InvestingPro metrics and tips. With a market capitalization of $9.34 billion and a P/E ratio of 26.39, the company is recognized for its financial stability and growth potential.
The InvestingPro data indicates a robust revenue growth of 11.28% over the last twelve months as of Q4 2023, demonstrating the company's ability to increase its earnings. This is further evidenced by a gross profit margin of 37.51%, indicating a strong ability to control costs and generate earnings relative to its revenue.
One of the noteworthy InvestingPro Tips for Curtiss Wright Corp is its perfect Piotroski Score of 9, which suggests the company is in top financial health. Additionally, the company has a track record of raising its dividend for 7 consecutive years, reflecting a commitment to returning value to shareholders. These factors, combined with the company's moderate level of debt and the fact that its liquid assets exceed short-term obligations, paint a picture of a financially sound enterprise that has consistently managed its finances well.
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