Wood & Company restated their buy rating on shares of Woodward, Inc. (NASDAQ:WWD) in a report released on Tuesday, July 25th. Wood & Company currently has a $80.00 price target on the technology company’s stock.
“Aerospace galloped ahead of pace on broad strength, while mixed Industrial trends remained a net headwind, combining for overall net operating upside. The industrial outlook softened (more 4Q impact vs. 3Q). Aero performance in 3Q logged ahead of likely sustainable trends and expectations, but a strong outlook persists (near-term and long), anchoring our base case buy thesis for sustained visibility of excellent growth on OE platform mix and AM fleet dynamics/initial provisioning. WWD noted Industrial OM target of 16% for 2019 in large part supported by cost actions and productivity that will continue to improve (expected steadily), with some sales growth required but perhaps not elevated.”,” the firm’s analyst wrote.
Several other equities research analysts have also issued reports on WWD. Stephens began coverage on shares of Woodward in a report on Thursday, April 13th. They issued an overweight rating and a $82.00 target price for the company. CL King began coverage on shares of Woodward in a report on Thursday, June 22nd. They set a buy rating and a $79.00 price objective for the company. BidaskClub lowered shares of Woodward from a buy rating to a hold rating in a report on Tuesday, June 20th. CIBC began coverage on shares of Woodward in a report on Friday, July 14th. They set an outperform rating and a $82.00 price objective for the company. Finally, Zacks Investment Research raised shares of Woodward from a sell rating to a hold rating in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Woodward has a consensus rating of Hold and an average target price of $73.89.
Woodward (NASDAQ WWD) traded up 0.97% during mid-day trading on Tuesday, reaching $67.86. 325,962 shares of the company’s stock were exchanged. Woodward has a 12 month low of $57.09 and a 12 month high of $72.97. The stock has a 50-day moving average of $69.14 and a 200-day moving average of $68.78. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 21.34 and a beta of 1.21.
Woodward (NASDAQ:WWD) last issued its quarterly earnings data on Monday, July 24th. The technology company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.09. Woodward had a net margin of 9.67% and a return on equity of 16.12%. The firm had revenue of $548.62 million for the quarter, compared to analysts’ expectations of $530.89 million. During the same quarter in the prior year, the business earned $0.81 EPS. The business’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts anticipate that Woodward will post $3.10 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd will be given a dividend of $0.125 per share. The ex-dividend date is Friday, August 18th. This represents a $0.50 annualized dividend and a dividend yield of 0.74%. Woodward’s dividend payout ratio (DPR) is 15.77%.
In other news, Director Paul Donovan sold 5,700 shares of Woodward stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $70.55, for a total transaction of $402,135.00. Following the completion of the sale, the director now directly owns 39,052 shares in the company, valued at $2,755,118.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John A. Halbrook sold 8,700 shares of Woodward stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $70.02, for a total value of $609,174.00. Following the completion of the sale, the director now owns 350,521 shares of the company’s stock, valued at $24,543,480.42. The disclosure for this sale can be found here. 5.93% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its stake in Woodward by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 14,000 shares of the technology company’s stock valued at $951,000 after buying an additional 300 shares during the last quarter. Parametrica Management Ltd increased its stake in Woodward by 64.5% in the first quarter. Parametrica Management Ltd now owns 5,509 shares of the technology company’s stock valued at $374,000 after buying an additional 2,161 shares during the last quarter. Private Trust Co. NA purchased a new stake in Woodward during the first quarter valued at $481,000. Capstone Asset Management Co. increased its stake in Woodward by 29.1% in the first quarter. Capstone Asset Management Co. now owns 6,372 shares of the technology company’s stock valued at $433,000 after buying an additional 1,437 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in Woodward during the fourth quarter valued at $224,000. Hedge funds and other institutional investors own 69.44% of the company’s stock.
Woodward Company Profile
Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.
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