FORT COLLINS, CO—Thomas G. Cromwell, Executive Vice President and Chief Operating Officer of Woodward , Inc. (NASDAQ:WWD), a $10.7 billion industrial control solutions company whose stock has gained nearly 33% year-to-date, recently executed a series of stock transactions as disclosed in a recent SEC filing. According to InvestingPro analysis, the company maintains strong financial health with a "GOOD" overall rating. On December 5, Cromwell sold a total of 10,000 shares of Woodward common stock in multiple transactions. The sales occurred at prices ranging from $180.85 to $183.48 per share, amounting to an aggregate value of approximately $1.82 million. These transactions occurred as the stock trades near its 52-week high of $201.64, with InvestingPro data showing the stock is currently fairly valued.
Prior to these sales, Cromwell exercised options to acquire 10,000 shares at a price of $81.03 per share, contributing to a total transaction value of $810,300 for these option exercises. Following these transactions, Cromwell holds 11,511 shares directly, with an additional 397 shares held indirectly through the Woodward Retirement Savings Plan.
These transactions were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for buying or selling company stock, providing an affirmative defense against accusations of insider trading.
In other recent news, Woodward, Inc. has been making significant strides in its financial performance. The aerospace and industrial company's fiscal year 2024 results exceeded market expectations, with revenues surpassing the $3 billion mark for the first time. This achievement was driven by substantial growth in both the Aerospace and Industrial segments, with earnings per share reaching an all-time high and a significant increase in free cash flow of over $100 million.
These recent developments prompted Truist Securities to upgrade its price target for Woodward's stock to $226 from the previous $187, while maintaining its Buy rating. Truist's decision was influenced by Woodward's optimistic fiscal year 2025 outlook, which includes a projected earnings per share increase of 2.5% higher than Wall Street analysts' consensus estimates.
However, the company anticipates a decline in Industrial sales by 7% to 11% for fiscal 2025 due to volatility in the China on-highway market. Despite this, Aerospace segment sales are expected to grow between 6% and 13%, driven by strong demand in power generation, marine transportation, and smart defense products.
Woodward also completed strategic initiatives, including facility transformations and maintenance, repair, and operations agreements. The company's CEO highlighted their commitment to innovation and readiness to meet the demands of the energy transition and next-generation aircraft technology.
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