What Happened?
Shares of aerospace and defense company Curtiss-Wright (NYSE: CW) jumped 3.7% in the afternoon session after the company announced a $200 million expansion of its 2025 share repurchase program.
This brings the total expected buyback for the year to a record of over $450 million. Share repurchases reduce the number of shares on the market, which can increase earnings per share and is often seen as a sign of management's confidence in the company's future. Lynn M. Bamford, the company's Chair and CEO, stated the move “reinforces our disciplined commitment to long-term value creation” and reflects the board's confidence in the company's strategy and financial outlook. The additional $200 million in shares will be repurchased through a 10b5-1 trading plan. Alongside the buyback news, Curtiss-Wright also declared a quarterly dividend of $0.24 per share.
After the initial pop the shares cooled down to $511.08, up 3.2% from previous close.
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What Is The Market Telling Us
Curtiss-Wright’s shares are not very volatile and have only had 8 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The previous big move we wrote about was about 1 month ago when the stock gained 3.9% on the news that the company announced a $200 million expansion of its 2025 share repurchase program, increasing its expected annual buybacks to $266 million for the year.
Share repurchase programs reduce the number of shares outstanding, which can increase earnings per share and signal management's confidence in the company's value. The move is supported by strong financials, with CEO Lynn M. Bamford noting the company is "compounding earnings at a mid-teens pace over time, and delivering strong and consistent free cash flow generation." This follows the company's recent decision to raise its full-year 2025 guidance after strong second-quarter results.
Adding to the positive momentum, Curtiss-Wright also announced it was selected by Rheinmetall to provide its turret drive stabilization system for the new KF51 Panther Main Battle Tank.
Curtiss-Wright is up 45.5% since the beginning of the year, and at $511.08 per share, it is trading close to its 52-week high of $511.64 from August 2025. Investors who bought $1,000 worth of Curtiss-Wright’s shares 5 years ago would now be looking at an investment worth $5,409.
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