Curtiss Wright Corp (NYSE:CW) Vice President and Treasurer, Robert F. Freda, has recently sold a portion of his company shares, according to a new SEC filing. On March 19, 2024, Freda sold 100 shares of Curtiss Wright at an average price of $243.726 per share, totaling $24,372.
The transaction is part of the company's share ownership guidelines which allows executives to sell shares to cover tax obligations associated with the vesting of awards. The SEC filing noted that Freda remains in compliance with the company's share ownership guidelines following the sale.
In addition to the sale, the filing also disclosed that Freda acquired 335 shares of common stock through a restricted share unit grant under the company's 2014 Long Term Incentive Plan. These shares vest after a three-year period and were not assigned a price on the date of issue as they were granted as part of an employee benefit transaction.
Investors often monitor the buying and selling activities of company insiders as an indicator of the executives' confidence in the company's prospects. The recent transactions by a Curtiss Wright executive provide a glimpse into such activities within the company.
Curtiss Wright, a diversified industrial company, has not issued any official statement regarding this transaction at the time of reporting. The company's shares are publicly traded on the New York Stock Exchange, and the stock continues to be a point of interest for investors tracking insider trading activity.
InvestingPro Insights
Curtiss Wright Corp's (NYSE:CW) latest insider sale might raise eyebrows among investors, yet the company's financial health remains robust, as reflected in recent metrics. With a market capitalization of $9.34 billion and a solid revenue growth of 11.28% over the last twelve months as of Q1 2023, Curtiss Wright is showing a positive trajectory in its financial performance. The company's P/E ratio stands at 26.39, which, while on the higher side, is justified by a PEG ratio of 1.27, indicating a balance between the price of shares and expected earnings growth.
The company's commitment to rewarding shareholders is evident, having raised its dividend for 7 consecutive years and maintaining dividend payments for an impressive 51 consecutive years. An InvestingPro Tip points out that the company's liquid assets exceed its short-term obligations, which speaks to its financial stability and ability to meet immediate liabilities. Moreover, the stock is trading near its 52-week high, with a price percentage of 98.93% of the high, showcasing investor confidence in the company's value and performance.
For investors seeking a more comprehensive analysis, Curtiss Wright has 12 additional InvestingPro Tips available, which can be accessed through InvestingPro's platform. These tips could provide deeper insights into the company's financial health and market position. To take advantage of these insights, investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As the next earnings date approaches on May 1, 2024, investors will be keen to see if the company's positive financial trends continue. With a fair value estimate of $216.61 by InvestingPro, slightly below the analyst target of $252.5, Curtiss Wright appears to be a company worth watching in the industrial sector.
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