SunTrust Banks, Inc. Boosts Woodward, Inc. (WWD) Price Target to $77.00
Woodward, Inc. (NASDAQ:WWD) had its target price boosted by SunTrust Banks, Inc. to $77.00 in a research report report published on Thursday morning. The firm currently has a hold rating on the technology company’s stock.
Other equities analysts also recently issued reports about the company. Wood & Company reiterated a buy rating and issued a $80.00 target price on shares of Woodward in a research report on Tuesday, July 25th. BidaskClub upgraded Woodward from a hold rating to a buy rating in a research report on Saturday, September 23rd. Zacks Investment Research upgraded Woodward from a sell rating to a hold rating in a research report on Tuesday, September 26th. Oppenheimer Holdings, Inc. reiterated a market perform rating and issued a $82.00 target price on shares of Woodward in a research report on Thursday, October 26th. Finally, CIBC assumed coverage on Woodward in a research report on Friday, July 14th. They issued an outperform rating and a $82.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $75.75.
Woodward (NASDAQ WWD) traded down $2.83 during trading hours on Thursday, hitting $79.22. The stock had a trading volume of 425,700 shares, compared to its average volume of 269,894. The company has a market cap of $4,880.00, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.94 and a beta of 1.24. The company has a current ratio of 2.39, a quick ratio of 1.28 and a debt-to-equity ratio of 0.42. Woodward has a 1 year low of $62.90 and a 1 year high of $82.94.
Woodward (NASDAQ:WWD) last released its earnings results on Wednesday, November 8th. The technology company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. Woodward had a return on equity of 15.55% and a net margin of 9.55%. The firm had revenue of $606.79 million during the quarter, compared to the consensus estimate of $596.99 million. During the same period in the prior year, the company posted $0.99 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. analysts expect that Woodward will post 3.4 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be paid a $0.125 dividend. The ex-dividend date is Friday, November 10th. This represents a $0.50 annualized dividend and a dividend yield of 0.63%. Woodward’s payout ratio is 15.82%.
In other news, Director John A. Halbrook sold 1,800 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $70.60, for a total value of $127,080.00. Following the completion of the sale, the director now owns 345,721 shares of the company’s stock, valued at $24,407,902.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John A. Halbrook sold 8,700 shares of the 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 directly owns 350,521 shares of the company’s stock, valued at approximately $24,543,480.42. The disclosure for this sale can be found here. Corporate insiders own 5.93% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Eagle Asset Management Inc. increased its stake in shares of Woodward by 5.3% in the second quarter. Eagle Asset Management Inc. now owns 996,816 shares of the technology company’s stock valued at $67,364,000 after buying an additional 50,059 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Woodward by 66.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,178 shares of the technology company’s stock valued at $217,000 after buying an additional 1,266 shares during the period. Marshall Wace North America L.P. acquired a new stake in Woodward during the second quarter worth approximately $5,861,000. Nuance Investments LLC acquired a new stake in Woodward during the second quarter worth approximately $2,985,000. Finally, Koch Industries Inc. acquired a new stake in Woodward during the second quarter worth approximately $354,000. 70.68% of the stock is owned by institutional investors.
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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