FORT COLLINS, Colo.—John D. Cohn, a director at Woodward , Inc. (NASDAQ:WWD), a $10.7 billion market cap company whose stock has surged nearly 36% year-to-date according to InvestingPro data, recently reported transactions involving the company's common stock. According to a recent SEC filing, Cohn sold 2,400 shares of Woodward stock on December 3rd, generating proceeds of approximately $430,968, with shares sold at an average price of $179.57 each.
In a related transaction, Cohn exercised options to acquire 2,400 shares at a price of $40.26 per share, totaling $96,624. Following these transactions, Cohn holds 20,963 shares directly, including additional shares and units issued through the company's dividend reinvestment provisions.
In other recent news, aerospace and industrial leader, Woodward, Inc., posted impressive fiscal 2024 results with revenues surpassing the $3 billion mark for the first time. Significant growth in both the Aerospace and Industrial segments contributed to this milestone, with earnings per share reaching an all-time high and a substantial increase in free cash flow of over $100 million. Truist Securities responded to these developments by upgrading Woodward's stock target to $226 from the previous $187 and maintaining a Buy rating.
These recent developments come on the back of Woodward's fourth fiscal quarter of 2024 results, which surpassed market expectations. The company's fiscal year 2025 earnings per share outlook was notably 2.5% higher than Wall Street's consensus estimates. Truist Securities has also 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.
However, Woodward anticipates a decline in Industrial sales by 7% to 11% for fiscal 2025, largely due to volatility in the China on-highway market. Despite these challenges, Aerospace segment sales are expected to grow between 6% and 13%, driven by anticipated strong demand in power generation, marine transportation, and smart defense products. Woodward projects earnings per share for fiscal 2025 to range from $5.75 to $6.25, reflecting the recent developments in the company's operations.
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