In a recent transaction filing, Thomas G. Cromwell, Executive Vice President and Chief Operating Officer of Woodward , Inc. (NASDAQ:WWD), sold shares worth approximately $3.6 million. The sales occurred on November 29 and December 2, with prices ranging from $179.54 to $180.62 per share. Cromwell's transactions were part of a Rule 10b5-1 trading plan adopted earlier this year. The $10.5 billion market cap company, which according to InvestingPro analysis is trading near its Fair Value, has seen its stock surge over 31% year-to-date.
On November 29, Cromwell sold 7,313 shares at an average price of $179.76 and an additional 2,687 shares at an average price of $180.62. On December 2, he sold 10,000 shares at an average price of $179.54. These sales were conducted through broker-dealer transactions resulting in multiple open market sales. The company maintains strong financial health with a P/E ratio of 28.9x and solid profitability metrics.
In addition to these sales, Cromwell also exercised non-qualified stock options, acquiring 10,000 shares at $81.03 per share on both November 29 and December 2. Following these transactions, Cromwell holds 11,511 shares directly, with additional shares held through the Woodward Retirement Savings Plan. Notably, InvestingPro data shows the company has maintained dividend payments for 52 consecutive years. Discover more key insights and metrics about Woodward's financial performance with an InvestingPro subscription.
In other recent news, Woodward, a prominent player in the aerospace and industrial sectors, has been making significant strides. Truist Securities has upgraded its price target for Woodward, maintaining a buy rating based on a strong outlook. This move comes after Woodward's fiscal Q4 2024 results exceeded market expectations, and its fiscal year 2025 outlook for earnings per share was 2.5% higher than Wall Street analysts' consensus estimates. The company also reported a record-breaking fiscal year 2024, with revenues surpassing the $3 billion mark for the first time, thanks to significant growth in both the Aerospace and Industrial segments.
However, Woodward anticipates a decline in Industrial sales by 7% to 11% for fiscal 2025, primarily due to volatility in the China on-highway market. On the flip side, Aerospace segment sales are projected to grow between 6% and 13%, driven by strong demand in power generation, marine transportation, and smart defense products. Truist Securities has adjusted its fiscal years 2025 and 2026 estimates for Woodward upward, indicating expectations that the company will outperform the broader market consensus for fiscal year 2026. These are among the latest developments in Woodward's operations.
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