Woodward, Inc.Common Stock (WWD) Plans $0.16 Quarterly Dividend
Woodward, Inc.Common Stock (NASDAQ:WWD) announced a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Stockholders of record on Monday, May 20th will be given a dividend of 0.1625 per share by the technology company on Monday, June 3rd. This represents a $0.65 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, May 17th.
Woodward, Inc.Common Stock has increased its dividend by an average of 12.5% annually over the last three years and has raised its dividend every year for the last 4 years. Woodward, Inc.Common Stock has a dividend payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Woodward, Inc.Common Stock to earn $5.43 per share next year, which means the company should continue to be able to cover its $0.65 annual dividend with an expected future payout ratio of 12.0%.
NASDAQ:WWD opened at $108.84 on Thursday. Woodward, Inc.Common Stock has a 12 month low of $68.40 and a 12 month high of $114.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.94 and a quick ratio of 1.10. The firm has a market cap of $6.68 billion, a PE ratio of 28.27, a P/E/G ratio of 1.76 and a beta of 1.50.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Woodward, Inc.Common Stock from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a research note on Friday, May 3rd. Wood & Company reiterated a “hold” rating on shares of Woodward, Inc.Common Stock in a research note on Tuesday, May 7th. SunTrust Banks lifted their price objective on shares of Woodward, Inc.Common Stock to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. BidaskClub upgraded shares of Woodward, Inc.Common Stock from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 3rd. Finally, Barrington Research set a $110.00 price objective on shares of Woodward, Inc.Common Stock and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $105.00.
In related news, CFO Robert F. Weber, Jr. sold 25,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $107.14, for a total transaction of $2,678,500.00. Following the completion of the transaction, the chief financial officer now directly owns 36,553 shares in the company, valued at $3,916,288.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher Fawzy sold 8,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $108.58, for a total transaction of $868,640.00. Following the transaction, the vice president now owns 7,506 shares of the company’s stock, valued at $815,001.48. The disclosure for this sale can be found here. Insiders have sold 231,010 shares of company stock valued at $22,473,160 over the last 90 days. 4.61% of the stock is currently owned by insiders.
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About Woodward, Inc.Common Stock
Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company's Aerospace segment offers 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, servo controls, motors, and sensors for aircraft that are used on commercial and private aircraft and rotorcraft, as well as on military fixed-wing aircraft and rotorcraft, guided weapons, and other defense systems.
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