Woodward, Inc. (WWD) to Issue Quarterly Dividend of $0.19 on November 28th

Woodward, Inc. (NASDAQ:WWDGet Rating) announced a quarterly dividend on Wednesday, September 21st, Wall Street Journal reports. Shareholders of record on Monday, November 14th will be paid a dividend of 0.19 per share by the technology company on Monday, November 28th. This represents a $0.76 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, November 11th.

Woodward has increased its dividend payment by an average of 4.5% per year over the last three years and has increased its dividend every year for the last 2 years. Woodward has a payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Woodward to earn $3.80 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 20.0%.

Woodward Trading Down 2.9 %

WWD stock opened at $84.66 on Friday. The company’s 50-day simple moving average is $96.42 and its 200-day simple moving average is $103.17. The company has a quick ratio of 1.77, a current ratio of 2.95 and a debt-to-equity ratio of 0.38. Woodward has a 52-week low of $84.29 and a 52-week high of $129.12. The firm has a market cap of $5.09 billion, a P/E ratio of 32.44, a PEG ratio of 2.44 and a beta of 1.49.

Woodward (NASDAQ:WWDGet Rating) last issued its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.27). The company had revenue of $614.33 million during the quarter, compared to analysts’ expectations of $625.04 million. Woodward had a net margin of 7.24% and a return on equity of 8.38%. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 earnings per share. As a group, equities analysts forecast that Woodward will post 2.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Woodward news, CEO Charles P. Blankenship acquired 500 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was bought at an average price of $94.97 per share, with a total value of $47,485.00. Following the completion of the transaction, the chief executive officer now directly owns 37,100 shares of the company’s stock, valued at $3,523,387. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Mark D. Hartman sold 5,300 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $92.21, for a total value of $488,713.00. Following the transaction, the chief financial officer now directly owns 2,585 shares in the company, valued at approximately $238,362.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles P. Blankenship purchased 500 shares of Woodward stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average price of $94.97 per share, for a total transaction of $47,485.00. Following the completion of the transaction, the chief executive officer now owns 37,100 shares in the company, valued at approximately $3,523,387. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 17,100 shares of company stock valued at $1,622,371. Insiders own 3.90% of the company’s stock.

Institutional Trading of Woodward

Large investors have recently modified their holdings of the company. Utah Retirement Systems increased its stake in Woodward by 6.7% during the 1st quarter. Utah Retirement Systems now owns 3,200 shares of the technology company’s stock valued at $400,000 after buying an additional 200 shares during the period. American International Group Inc. grew its stake in shares of Woodward by 0.3% in the 1st quarter. American International Group Inc. now owns 106,832 shares of the technology company’s stock worth $13,344,000 after purchasing an additional 277 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Woodward by 46.9% in the 1st quarter. Captrust Financial Advisors now owns 877 shares of the technology company’s stock worth $110,000 after purchasing an additional 280 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Woodward by 13.0% in the 1st quarter. Baird Financial Group Inc. now owns 5,126 shares of the technology company’s stock worth $640,000 after purchasing an additional 590 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Woodward by 11.5% in the 1st quarter. American Century Companies Inc. now owns 6,324 shares of the technology company’s stock worth $790,000 after purchasing an additional 653 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WWD shares. Wells Fargo & Company cut their price target on shares of Woodward from $117.00 to $100.00 and set an “equal weight” rating for the company in a report on Tuesday, August 2nd. Jefferies Financial Group reissued a “hold” rating and issued a $90.00 price target on shares of Woodward in a research report on Wednesday, September 14th. Finally, Truist Financial cut shares of Woodward from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $121.00 to $88.00 in a research report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Woodward currently has a consensus rating of “Hold” and a consensus target price of $107.86.

Woodward Company Profile

(Get Rating)

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates through two segments: Aerospace and Industrial. The Aerospace segment provides fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servocontrols, motors, and sensors for aircraft.

Further Reading

Dividend History for Woodward (NASDAQ:WWD)

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