Woodward (NASDAQ:WWD) Announces Earnings Results

Woodward (NASDAQ:WWDGet Free Report) announced its earnings results on Monday. The technology company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33, MarketWatch Earnings reports. The firm had revenue of $786.73 million for the quarter, compared to analysts’ expectations of $750.13 million. Woodward had a return on equity of 15.50% and a net margin of 9.50%. Woodward’s quarterly revenue was up 27.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. Woodward updated its FY24 guidance to $5.00-5.40 EPS.

Woodward Trading Down 0.9 %

NASDAQ:WWD opened at $141.48 on Wednesday. The business’s 50-day moving average is $135.49 and its two-hundred day moving average is $129.79. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.38 and a quick ratio of 1.54. Woodward has a 12 month low of $88.30 and a 12 month high of $150.00. The firm has a market capitalization of $8.50 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 1.88 and a beta of 1.41.

Woodward Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 5th. Shareholders of record on Tuesday, February 20th will be given a $0.25 dividend. The ex-dividend date is Friday, February 16th. This is a positive change from Woodward’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a yield of 0.71%. Woodward’s dividend payout ratio (DPR) is 18.57%.

Wall Street Analysts Forecast Growth

WWD has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Woodward from $165.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com raised Woodward from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. The Goldman Sachs Group raised Woodward from a “sell” rating to a “buy” rating and increased their price target for the stock from $105.00 to $153.00 in a research note on Wednesday, January 10th. Truist Financial increased their price target on Woodward from $136.00 to $143.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, UBS Group increased their price target on Woodward from $168.00 to $177.00 and gave the stock a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Woodward presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.00.

Get Our Latest Analysis on WWD

Insider Buying and Selling at Woodward

In other Woodward news, insider Randall Hobbs sold 404 shares of the firm’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $133.60, for a total value of $53,974.40. Following the transaction, the insider now directly owns 45,342 shares of the company’s stock, valued at $6,057,691.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John D. Cohn sold 2,500 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $136.49, for a total transaction of $341,225.00. Following the completion of the sale, the director now directly owns 20,531 shares in the company, valued at $2,802,276.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Randall Hobbs sold 404 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $133.60, for a total value of $53,974.40. Following the sale, the insider now owns 45,342 shares of the company’s stock, valued at $6,057,691.20. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by corporate insiders.

Institutional Trading of Woodward

Several large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Woodward by 18.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,038 shares of the technology company’s stock worth $1,775,000 after purchasing an additional 2,063 shares in the last quarter. Cookson Peirce & Co. Inc. acquired a new position in Woodward in the fourth quarter worth about $924,000. Bison Wealth LLC grew its stake in Woodward by 3.0% in the fourth quarter. Bison Wealth LLC now owns 5,555 shares of the technology company’s stock worth $756,000 after purchasing an additional 162 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Woodward in the fourth quarter worth about $2,314,000. Finally, Toth Financial Advisory Corp acquired a new position in Woodward in the fourth quarter worth about $301,000. 79.63% of the stock is currently owned by institutional investors and hedge funds.

Woodward Company Profile

(Get Free Report)

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates in 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.

Further Reading

Earnings History for Woodward (NASDAQ:WWD)

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