Woodward, Inc. (NASDAQ:WWD) to Issue $0.19 Quarterly Dividend

Woodward, Inc. (NASDAQ:WWDGet 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% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Woodward has a payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. 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 firm has a fifty day moving average price of $96.42 and a 200 day moving average price of $103.17. Woodward has a fifty-two week low of $84.29 and a fifty-two week high of $129.12. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.77 and a current ratio of 2.95. The firm has a market cap of $5.09 billion, a PE ratio of 32.44, a price-to-earnings-growth 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 (EPS) 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 the consensus estimate of $625.04 million. Woodward had a return on equity of 8.38% and a net margin of 7.24%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 earnings per share. Sell-side analysts anticipate that Woodward will post 2.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Woodward

In related news, CFO Mark D. Hartman sold 5,300 shares of Woodward stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $92.21, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Charles P. Blankenship bought 500 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were bought at an average price of $94.97 per share, for a total transaction of $47,485.00. Following the completion of the purchase, 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 Securities & Exchange Commission, which is available through this link. Also, CFO Mark D. Hartman sold 5,300 shares of Woodward 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 completion of the transaction, the chief financial officer now owns 2,585 shares in the company, valued at approximately $238,362.85. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 17,100 shares of company stock worth $1,622,371. 3.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Woodward

Several institutional investors and hedge funds have recently added to or reduced their stakes in WWD. Captrust Financial Advisors grew its stake in shares of Woodward by 46.9% during the first quarter. Captrust Financial Advisors now owns 877 shares of the technology company’s stock worth $110,000 after acquiring an additional 280 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Woodward during the second quarter worth about $213,000. Neuberger Berman Group LLC acquired a new stake in shares of Woodward during the first quarter worth about $319,000. Utah Retirement Systems lifted its holdings in Woodward by 6.7% in the first quarter. Utah Retirement Systems now owns 3,200 shares of the technology company’s stock valued at $400,000 after acquiring an additional 200 shares during the period. Finally, PDT Partners LLC acquired a new position in Woodward in the second quarter valued at approximately $429,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

About Woodward

(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.

See Also

Dividend History for Woodward (NASDAQ:WWD)

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