Woodward Inc. (WWD) Stock Rating Reaffirmed by Jefferies Group
Woodward Inc. (NASDAQ:WWD)‘s stock had its “hold” rating reissued by equities research analysts at Jefferies Group in a note issued to investors on Friday. They presently have a $62.00 price target on the stock, up from their previous price target of $59.00. Jefferies Group’s price target indicates a potential downside of 8.42% from the company’s previous close.
WWD has been the subject of several other reports. Zacks Investment Research lowered Woodward from a “hold” rating to a “sell” rating in a research report on Wednesday, November 16th. Barrington Research started coverage on Woodward in a research note on Friday, September 16th. They issued a “market perform” rating on the stock.
Woodward (NASDAQ:WWD) opened at 67.70 on Friday. The stock has a market capitalization of $4.17 billion, a P/E ratio of 23.75 and a beta of 1.08. The company’s 50-day moving average price is $61.09 and its 200 day moving average price is $59.41. Woodward has a 52 week low of $41.24 and a 52 week high of $68.44.
Woodward (NASDAQ:WWD) last issued its quarterly earnings data on Monday, November 14th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.07. The company earned $590.92 million during the quarter, compared to analyst estimates of $571.55 million. Woodward had a return on equity of 16.47% and a net margin of 8.93%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 earnings per share. Equities research analysts expect that Woodward will post $3.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Monday, November 14th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Wednesday, November 9th. Woodward’s payout ratio is currently 15.44%.
In other Woodward news, insider Chad Robert Preiss sold 7,000 shares of the firm’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $67.44, for a total value of $472,080.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Larry E. Rittenberg sold 5,700 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $67.18, for a total value of $382,926.00. Following the completion of the sale, the director now owns 36,302 shares in the company, valued at $2,438,768.36. The disclosure for this sale can be found here. 6.18% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. HighPoint Advisor Group LLC acquired a new stake in Woodward during the third quarter worth $212,000. Price T Rowe Associates Inc. MD boosted its stake in Woodward by 18.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 555,046 shares of the company’s stock worth $34,679,000 after buying an additional 84,501 shares during the period. Cornerstone Capital Management Holdings LLC. boosted its stake in Woodward by 145.2% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 58,569 shares of the company’s stock worth $3,658,000 after buying an additional 34,685 shares during the period. Cookson Peirce & Co. Inc. purchased a new stake in Woodward during the third quarter worth approximately $437,000. Finally, Ameritas Investment Partners Inc. boosted its stake in Woodward by 66.5% in the third quarter. Ameritas Investment Partners Inc. now owns 21,353 shares of the company’s stock worth $1,334,000 after buying an additional 8,531 shares during the period. Institutional investors own 74.03% of the company’s stock.
Woodward Company Profile
Woodward, Inc is a designer, manufacturer, and service provider of energy controls and optimization solutions. The Company has production and assembly facilities in the United States, Europe and Asia, and promotes its products and services through its worldwide locations. The Company’s is engaged in providing energy control and optimization solutions for the aerospace and energy markets.
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