Woodward, Inc. (NASDAQ:WWD – Get Rating) declared a quarterly dividend on Thursday, April 28th, Zacks reports. Shareholders of record on Tuesday, May 17th will be paid a dividend of 0.19 per share by the technology company on Tuesday, May 31st. This represents a $0.76 annualized dividend and a yield of 0.69%. The ex-dividend date is Monday, May 16th.
Woodward has raised its dividend 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 15.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Woodward to earn $4.77 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 15.9%.
Woodward stock traded down $3.02 during midday trading on Friday, hitting $110.48. 678,687 shares of the company’s stock were exchanged, compared to its average volume of 396,049. Woodward has a 12-month low of $101.28 and a 12-month high of $130.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.02 and a current ratio of 4.39. The stock has a market cap of $6.97 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth ratio of 2.21 and a beta of 1.51. The firm’s 50 day simple moving average is $120.46 and its 200 day simple moving average is $115.31.
WWD has been the topic of several analyst reports. TheStreet downgraded shares of Woodward from a “b” rating to a “c+” rating in a report on Monday, January 31st. StockNews.com initiated coverage on shares of Woodward in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research raised shares of Woodward from a “sell” rating to a “hold” rating and set a $115.00 target price on the stock in a report on Wednesday, February 2nd. William Blair reaffirmed an “outperform” rating on shares of Woodward in a report on Thursday, March 10th. Finally, Jefferies Financial Group lifted their target price on shares of Woodward from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, March 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Woodward currently has a consensus rating of “Hold” and an average target price of $126.86.
In other Woodward news, CEO Thomas A. Gendron sold 70,895 shares of Woodward stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $122.19, for a total transaction of $8,662,660.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.90% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in WWD. Glenmede Trust Co. NA grew its holdings in shares of Woodward by 15.7% during the fourth quarter. Glenmede Trust Co. NA now owns 2,621 shares of the technology company’s stock worth $286,000 after buying an additional 356 shares in the last quarter. Walleye Trading LLC grew its holdings in shares of Woodward by 74.4% during the fourth quarter. Walleye Trading LLC now owns 3,994 shares of the technology company’s stock worth $437,000 after buying an additional 1,704 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Woodward by 116.1% during the fourth quarter. Squarepoint Ops LLC now owns 7,158 shares of the technology company’s stock worth $784,000 after buying an additional 3,846 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Woodward by 3.7% during the fourth quarter. MML Investors Services LLC now owns 7,776 shares of the technology company’s stock worth $851,000 after buying an additional 277 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its holdings in shares of Woodward by 7.9% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 11,168 shares of the technology company’s stock worth $1,222,000 after buying an additional 820 shares in the last quarter. Institutional investors own 81.06% of the company’s stock.
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.
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