Larry E. Rittenberg Sells 5,700 Shares of Woodward Inc. (WWD) Stock
Woodward Inc. (NASDAQ:WWD) Director Larry E. Rittenberg sold 5,700 shares of Woodward stock in a transaction that occurred 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 transaction, the director now owns 36,302 shares of the company’s stock, valued at $2,438,768.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Woodward Inc. (NASDAQ:WWD) opened at 67.81 on Wednesday. Woodward Inc. has a one year low of $41.24 and a one year high of $68.44. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 23.79 and a beta of 1.08. The firm has a 50-day moving average price of $61.23 and a 200 day moving average price of $59.50.
Woodward (NASDAQ:WWD) last announced its earnings results on Monday, November 14th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.07. The firm earned $590.92 million during the quarter, compared to analysts’ expectations of $571.55 million. Woodward had a return on equity of 16.47% and a net margin of 8.93%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. Equities analysts forecast that Woodward Inc. will post $3.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Monday, November 14th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.65%. Woodward’s dividend payout ratio (DPR) is presently 15.44%.
Several research analysts recently weighed in on WWD shares. Zacks Investment Research upgraded Woodward from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Tuesday, September 20th. Jefferies Group reissued a “hold” rating and issued a $62.00 price objective (up from $59.00) on shares of Woodward in a report on Friday, November 18th. Finally, Barrington Research began coverage on Woodward in a report on Friday, September 16th. They issued a “market perform” rating on the stock.
Several hedge funds have recently made changes to their positions in WWD. JPMorgan Chase & Co. boosted its stake in shares of Woodward by 28.8% in the second quarter. JPMorgan Chase & Co. now owns 1,983 shares of the company’s stock worth $114,000 after buying an additional 443 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Woodward by 11.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,000 shares of the company’s stock worth $125,000 after buying an additional 209 shares during the period. Advisor Group Inc. purchased a new stake in shares of Woodward during the second quarter worth about $124,000. Panagora Asset Management Inc. boosted its stake in shares of Woodward by 2,301.0% in the second quarter. Panagora Asset Management Inc. now owns 2,401 shares of the company’s stock worth $138,000 after buying an additional 2,301 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in shares of Woodward during the second quarter worth about $160,000. 74.03% of the stock is owned by hedge funds and other institutional investors.
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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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