The Goldman Sachs Group Downgrades Woodward (NASDAQ:WWD) to Sell

The Goldman Sachs Group downgraded shares of Woodward (NASDAQ:WWD) from a neutral rating to a sell rating in a research note published on Thursday, Analyst Price Targets reports. They currently have $102.00 price objective on the technology company’s stock.

Separately, Credit Suisse Group cut their price target on shares of Woodward from $151.00 to $138.00 and set an outperform rating for the company in a report on Tuesday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Woodward currently has a consensus rating of Hold and a consensus price target of $122.67.

Woodward stock opened at $114.95 on Thursday. Woodward has a 1-year low of $74.34 and a 1-year high of $130.75. The firm has a market capitalization of $7.31 billion, a price-to-earnings ratio of 34.73, a P/E/G ratio of 2.71 and a beta of 1.73. The company has a current ratio of 4.24, a quick ratio of 2.98 and a debt-to-equity ratio of 0.34. The firm has a 50 day simple moving average of $118.60 and a 200 day simple moving average of $121.16.

Woodward (NASDAQ:WWD) last released its quarterly earnings data on Sunday, August 1st. The technology company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.23). Woodward had a net margin of 9.79% and a return on equity of 9.86%. The business had revenue of $556.68 million during the quarter, compared to analysts’ expectations of $617.21 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Woodward will post 3.31 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 29th. Shareholders of record on Monday, November 15th will be issued a $0.1625 dividend. This represents a $0.65 annualized dividend and a yield of 0.57%. This is an increase from Woodward’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, November 12th. Woodward’s dividend payout ratio (DPR) is presently 16.41%.

In other news, CEO Thomas A. Gendron sold 1,389 shares of Woodward stock in a transaction on Thursday, July 15th. The shares were sold at an average price of $119.33, for a total transaction of $165,749.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Terence J. Voskuil sold 2,100 shares of Woodward stock in a transaction on Thursday, September 2nd. The stock was sold at an average price of $22.04, for a total transaction of $46,284.00. The disclosure for this sale can be found here. 3.81% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Woodward by 1.5% in the second quarter. Vanguard Group Inc. now owns 5,416,972 shares of the technology company’s stock worth $665,638,000 after purchasing an additional 81,001 shares during the last quarter. BlackRock Inc. lifted its stake in Woodward by 5.4% in the first quarter. BlackRock Inc. now owns 4,991,811 shares of the technology company’s stock worth $602,163,000 after purchasing an additional 253,935 shares during the last quarter. FMR LLC lifted its stake in Woodward by 1.9% in the second quarter. FMR LLC now owns 2,027,023 shares of the technology company’s stock worth $249,081,000 after purchasing an additional 38,243 shares during the last quarter. Cooke & Bieler LP lifted its stake in Woodward by 21.0% in the second quarter. Cooke & Bieler LP now owns 1,728,700 shares of the technology company’s stock worth $212,422,000 after purchasing an additional 299,683 shares during the last quarter. Finally, State Street Corp increased its position in shares of Woodward by 9.7% in the second quarter. State Street Corp now owns 1,422,327 shares of the technology company’s stock valued at $174,776,000 after acquiring an additional 126,192 shares during the period. 79.27% of the stock is owned by institutional investors and hedge funds.

About Woodward

Woodward, Inc engages in the provision of control system solutions and components for the aerospace and industrial markets. It operates through the following segments: Aerospace and Industrial. The Aerospace segment designs, manufactures and services systems and products for the management of fuel, air and combustion and motion control.

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Analyst Recommendations for Woodward (NASDAQ:WWD)

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