Curtiss-Wright Corporation (NYSE:CW) reported that its Vice President and Corporate Controller, Gary A. Ogilby, sold shares of the company's stock on March 19, 2024. The transaction involved the sale of 150 shares at a price of $243.71 each, totaling over $36,000.
The sale was conducted in accordance with the company's share ownership guidelines, which allow executives to sell a portion of their shares to cover tax obligations associated with vested awards. It is noted that Ogilby remains in compliance with the company's share ownership guidelines following the sale.
In addition to the sale, Ogilby also acquired 348 shares of Curtiss-Wright common stock through a restricted share unit grant under the company's 2014 Long Term Incentive Plan. These shares were granted as part of an employee benefit transaction and vested after a three-year period. The price per share for the vested units was based on the closing market price of Curtiss-Wright's stock on the New York Stock Exchange as of the vesting date, which was $244.73.
Following these transactions, Ogilby's direct ownership in Curtiss-Wright Corporation increased, with the executive holding a total of 2,317 shares of common stock and 4,861 shares represented by vested restricted stock units.
Investors often monitor the buying and selling activities of company insiders as these transactions can provide insights into the executives' perspectives on the company's current valuation and future prospects.
InvestingPro Insights
As Curtiss-Wright Corporation (NYSE:CW) navigates through its latest insider transactions, investors are keeping a keen eye on the company's financial health and market performance. With a market capitalization of $9.34 billion and a strong track record of dividend growth, the company has raised its dividends for 7 consecutive years, reflecting a commitment to returning value to shareholders. This is further substantiated by a solid Piotroski Score of 9, indicating a healthy financial state.
InvestingPro Data shows a Price/Earnings (P/E) ratio of 26.39, which is notably high when juxtaposed against near-term earnings growth. Additionally, the company's Price/Book (P/B) ratio stands at 4.01 as of the last twelve months ending Q4 2023, suggesting a premium valuation relative to its book value. Despite these valuations, the company's stock has been trading near its 52-week high, with a price that is 98.93% of this peak, indicating strong market confidence and potentially limited upside from current levels.
For investors seeking further insights and analysis, there are additional InvestingPro Tips available, which can be accessed by visiting the dedicated page for Curtiss-Wright on InvestingPro. These tips provide a deeper dive into the company's financials, stock performance, and potential investment strategies. To enhance your research experience, use coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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