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OFFON

CURTISS-WRIGHT CORPORATION

(CW)
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CURTISS WRIGHT CORP : Other Events (form 8-K)

09/16/2021 | 08:01am EDT

Item 8.01 Other Events

On September 15, 2021, Curtiss-Wright Corporation (the "Company") adopted a written trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Company implemented this written trading plan in connection with its share repurchase program, which was authorized by the Company's Board of Directors and announced on September 16, 2021. Under the share repurchase program, the Company may purchase up to $550 million of its outstanding common stock.

The trading plan will include purchases in the total amount of $200 million. The number of shares of Company common stock to be purchased on any purchase day will be up to the maximum daily target volume allowable under Rule 10b-18 of the Exchange Act. This written trading plan will not be effected before September 16, 2021 and will cease on December 31, 2021.

Adopting a trading plan that satisfies the conditions of Rule 10b5-1 allows a company to repurchase its shares at times when it might otherwise be prevented from doing so due to self-imposed trading blackout periods or pursuant to insider trading laws. A broker selected by the Company will have the authority under the terms and limitations specified in the plan to repurchase shares on the Company's behalf in accordance with the terms of the plan. After the expiration of the current trading plan, the Company may from time to time enter into subsequent trading plans under Rule 10b5-1 to facilitate the repurchase of its common stock pursuant to its share repurchase program.

Information regarding share repurchases will be available in the Company's periodic reports on Form 10-Q and 10-K filed with the Securities and Exchange Commission as required by the applicable rules of the Exchange Act.

This report contains forward-looking information, as that term is defined under the Exchange Act, including information regarding purchases by the Company of its common stock pursuant to a 10b5-1 trading plan. By their nature, forward-looking information and statements are subject to risks, uncertainties, and contingencies, including changes in price and volume and the volatility of the Company's common stock; adverse developments affecting either or both of prices and trading of exchange-traded securities, including securities listed on the New York Stock Exchange; and unexpected or otherwise unplanned or alternative requirements with respect to the capital investments of the Company. The Company's 2020 Annual Report on Form 10-K filed with the SEC on February 25, 2021, includes information regarding other risk factors and cautionary information. The Company does not undertake to update any forward-looking statements or information, including those contained in this report.

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© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 2 490 M - -
Net income 2021 286 M - -
Net Debt 2021 613 M - -
P/E ratio 2021 18,7x
Yield 2021 0,36%
Capitalization 5 375 M 5 375 M -
EV / Sales 2021 2,40x
EV / Sales 2022 2,20x
Nbr of Employees 8 200
Free-Float 82,3%
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Mean consensus BUY
Number of Analysts 5
Last Close Price 131,46 $
Average target price 155,90 $
Spread / Average Target 18,6%
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Managers and Directors
Lynn M. Bamford President, Chief Executive Officer & Director
K. Christopher Farkas Chief Financial Officer & Vice President
David Charles Adams Executive Chairman
Kevin Michael Rayment Chief Operating Officer
Albert E. Smith Lead Independent Director
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