Woodward, Inc. (WWD) Cut to “Buy” at BidaskClub
BidaskClub cut shares of Woodward, Inc. (NASDAQ:WWD) from a strong-buy rating to a buy rating in a research report report published on Tuesday morning.
A number of other research firms also recently weighed in on WWD. Wood & Company downgraded Woodward from an outperform rating to a market perform rating in a research report on Thursday, October 26th. Oppenheimer Holdings, Inc. reaffirmed a market perform rating and set a $82.00 price target on shares of Woodward in a research report on Thursday, October 26th. Zacks Investment Research downgraded Woodward from a hold rating to a sell rating in a research report on Friday, October 27th. Finally, CIBC assumed coverage on Woodward in a research report on Friday, July 14th. They set an outperform rating and a $82.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $74.75.
Shares of Woodward (NASDAQ WWD) traded up $0.11 during mid-day trading on Tuesday, hitting $77.99. 233,586 shares of the stock traded hands, compared to its average volume of 213,968. The company has a quick ratio of 1.05, a current ratio of 2.21 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $4,802.93, a PE ratio of 24.71, a P/E/G ratio of 1.87 and a beta of 1.24.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Friday, November 10th. Woodward’s dividend payout ratio is currently 15.77%.
In other news, Director John A. Halbrook sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $70.60, for a total transaction of $127,080.00. Following the sale, the director now owns 345,721 shares in the company, valued at approximately $24,407,902.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul Donovan sold 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $70.55, for a total value of $402,135.00. Following the sale, the director now owns 39,052 shares in the company, valued at approximately $2,755,118.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,200 shares of company stock worth $1,138,389. Company insiders own 5.93% of the company’s stock.
Several institutional investors have recently made changes to their positions in WWD. OppenheimerFunds Inc. raised its stake in shares of Woodward by 39.3% during the 1st quarter. OppenheimerFunds Inc. now owns 8,443 shares of the technology company’s stock worth $574,000 after purchasing an additional 2,383 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Woodward by 8.5% during the 1st quarter. Teachers Advisors LLC now owns 101,932 shares of the technology company’s stock worth $6,923,000 after purchasing an additional 7,966 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Woodward by 66.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,178 shares of the technology company’s stock worth $217,000 after purchasing an additional 1,266 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Woodward by 7.8% during the 1st quarter. Legal & General Group Plc now owns 51,057 shares of the technology company’s stock worth $3,470,000 after purchasing an additional 3,706 shares in the last quarter. Finally, Thrivent Financial For Lutherans raised its stake in shares of Woodward by 9.3% during the 1st quarter. Thrivent Financial For Lutherans now owns 10,390 shares of the technology company’s stock worth $706,000 after purchasing an additional 880 shares in the last quarter. Institutional investors own 71.29% of the company’s stock.
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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