Woodward, Inc. (NASDAQ:WWD – Get Rating) declared a quarterly dividend on Thursday, September 22nd, Wall Street Journal reports. Shareholders 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 yield of 0.90%. The ex-dividend date is Friday, November 11th.
Woodward has raised 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 dividend payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Equities research 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%.
Get Woodward alerts:Woodward Price Performance
Shares of NASDAQ:WWD traded down $2.52 during midday trading on Thursday, reaching $84.66. The company's stock had a trading volume of 343,576 shares, compared to its average volume of 420,315. The business's fifty day simple moving average is $96.51 and its 200-day simple moving average is $103.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.95 and a quick ratio of 1.77. Woodward has a fifty-two week low of $84.29 and a fifty-two week high of $129.12. The company has a market capitalization of $5.09 billion, a P/E ratio of 32.48, a P/E/G ratio of 2.50 and a beta of 1.49.
Woodward (NASDAQ:WWD – Get Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.27). Woodward had a net margin of 7.24% and a return on equity of 8.38%. The company had revenue of $614.33 million for the quarter, compared to the consensus estimate of $625.04 million. During the same period last year, the company earned $0.74 earnings per share. Woodward's revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities research analysts expect that Woodward will post 2.65 EPS for the current fiscal year.Insider Activity
In related news, CEO Charles P. Blankenship purchased 500 shares of the stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average price of $94.97 per share, with a total value of $47,485.00. Following the transaction, the chief executive officer now directly owns 37,100 shares of the company's stock, valued at $3,523,387. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Charles P. Blankenship bought 500 shares of the company's stock in a transaction dated Wednesday, August 3rd. The shares were bought at an average cost of $94.97 per share, with a total value of $47,485.00. Following the acquisition, the chief executive officer now owns 37,100 shares in the company, valued at $3,523,387. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul Donovan purchased 1,000 shares of Woodward stock in a transaction that occurred on Friday, August 19th. The shares were acquired at an average price of $101.16 per share, with a total value of $101,160.00. Following the acquisition, the director now directly owns 12,100 shares of the company's stock, valued at approximately $1,224,036. The disclosure for this purchase can be found here. Insiders purchased 17,100 shares of company stock worth $1,622,371 in the last quarter. Corporate insiders own 3.90% of the company's stock.
Institutional Trading of Woodward
Institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in 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 buying an additional 280 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Woodward in the 2nd quarter valued at approximately $213,000. Neuberger Berman Group LLC acquired a new stake in shares of Woodward during the 1st quarter worth approximately $319,000. Utah Retirement Systems increased its stake 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 last quarter. Finally, PDT Partners LLC acquired a new position in Woodward during the second quarter valued at approximately $429,000. 84.00% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have commented on WWD. Jefferies Financial Group reiterated a "hold" rating and set a $90.00 target price on shares of Woodward in a research report on Wednesday, September 14th. Wells Fargo & Company dropped their price objective on Woodward from $117.00 to $100.00 and set an "equal weight" rating for the company in a report on Tuesday, August 2nd. Finally, Truist Financial cut Woodward from a "buy" rating to a "hold" rating and reduced their target price for the stock from $121.00 to $88.00 in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $107.86.
About Woodward
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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.
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