Woodward, Inc. (NASDAQ:WWD – Get Rating) declared a quarterly dividend on Thursday, September 22nd, Wall Street Journal reports. Investors of record on Monday, November 14th will be given a dividend of 0.19 per share by the technology company on Monday, November 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend 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 raised its dividend every year for the last 2 years. Woodward has a dividend 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 Stock Down 2.9 %
WWD opened at $84.66 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.95 and a quick ratio of 1.77. The company’s 50-day moving average is $96.42 and its 200 day moving average is $103.17. Woodward has a fifty-two week low of $84.29 and a fifty-two week high of $129.12. The firm has a market capitalization of $5.09 billion, a P/E ratio of 32.44, a PEG ratio of 2.44 and a beta of 1.49.
Insider Activity at Woodward
In other news, CEO Charles P. Blankenship acquired 500 shares of Woodward stock in a transaction that occurred on 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 purchase, the chief executive officer now owns 37,100 shares in the company, valued at $3,523,387. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Woodward news, CFO Mark D. Hartman sold 5,300 shares of Woodward stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $92.21, for a total transaction of $488,713.00. Following the completion of the sale, the chief financial officer now directly owns 2,585 shares in the company, valued at $238,362.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles P. Blankenship bought 500 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were 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 owns 37,100 shares of the company’s stock, valued at $3,523,387. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 17,100 shares of company stock valued at $1,622,371. Corporate insiders own 3.90% of the company’s stock.
Institutional Investors Weigh In On Woodward
Several hedge funds have recently bought and sold shares of WWD. American Century Companies Inc. lifted its position in Woodward by 11.5% during the first quarter. American Century Companies Inc. now owns 6,324 shares of the technology company’s stock valued at $790,000 after purchasing an additional 653 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Woodward by 15.4% in the 1st quarter. BlackRock Inc. now owns 5,749,193 shares of the technology company’s stock worth $718,131,000 after acquiring an additional 768,984 shares during the last quarter. APG Asset Management N.V. bought a new stake in shares of Woodward in the 1st quarter worth approximately $516,000. Great West Life Assurance Co. Can lifted its holdings in shares of Woodward by 7.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 34,401 shares of the technology company’s stock worth $4,411,000 after acquiring an additional 2,520 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Woodward by 7.5% in the 1st quarter. Sei Investments Co. now owns 224,853 shares of the technology company’s stock worth $28,088,000 after acquiring an additional 15,738 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
WWD has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price objective 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. Truist Financial downgraded 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 report on Tuesday, August 2nd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $90.00 target price on shares of Woodward in a research note on Wednesday, September 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Woodward currently has a consensus rating of “Hold” and a consensus target price of $107.86.
Woodward Company Profile
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.
- Get a free copy of the StockNews.com research report on Woodward (WWD)
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