Moog (NYSE:MOG.A) Shares Down 5.6% – Here’s What Happened

Moog Inc. (NYSE:MOG.A) traded down 5.6% on Wednesday . The stock traded as low as $410.25 and last traded at $413.0140. Approximately 134,979 shares were traded during trading, a decline of 55% from the average daily volume of 298,174 shares. The stock had previously closed at $437.71.

Analysts Set New Price Targets

A number of brokerages recently commented on MOG.A. Truist Financial boosted their target price on Moog from $344.00 to $417.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. JPMorgan Chase & Co. started coverage on Moog in a report on Monday, July 20th. They set an “overweight” rating and a $520.00 price objective for the company. Finally, TD Cowen upped their target price on Moog from $350.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $462.33.

Moog Price Performance

The stock has a market capitalization of $12.96 billion, a P/E ratio of 34.72 and a beta of 0.98. The business has a fifty day simple moving average of $409.35 and a 200 day simple moving average of $351.55. The company has a current ratio of 2.09, a quick ratio of 1.34 and a debt-to-equity ratio of 0.41.

Moog (NYSE:MOG.A) last announced its quarterly earnings results on Friday, July 31st. The aerospace company reported $3.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $1.06. Moog had a return on equity of 17.67% and a net margin of 8.73%.The business had revenue of $1.12 billion during the quarter. During the same quarter last year, the company posted $2.37 EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. On average, analysts expect that Moog Inc. will post 11.68 earnings per share for the current year.

Insider Activity

In related news, Director John Scannell sold 3,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $373.58, for a total transaction of $1,120,740.00. Following the transaction, the director directly owned 33,540 shares in the company, valued at approximately $12,529,873.20. The trade was a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet M. Coletti sold 604 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $379.66, for a total transaction of $229,314.64. Following the completion of the sale, the director directly owned 6,145 shares of the company’s stock, valued at $2,333,010.70. The trade was a 8.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Archer Investment Corp purchased a new stake in shares of Moog during the 2nd quarter valued at $342,000. Public Employees Retirement System of Ohio purchased a new position in shares of Moog in the 2nd quarter worth about $426,000. Ancora Advisors LLC purchased a new position in shares of Moog in the 2nd quarter worth about $1,323,000. Finally, Globeflex Capital L P bought a new position in Moog during the second quarter valued at about $2,386,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Moog Company Profile

Moog Inc designs, manufactures, and integrates precision motion and fluid controls and controls systems for original equipment manufacturers and end users in the aerospace, defense, and industrial markets worldwide. The company's Aircrafts Controls segment offers primary and secondary flight controls for military and commercial aircrafts; aftermarket support services; and ground-based navigation aids. Its Space and Defense Controls segment provides controls for satellites, space vehicles, launch vehicles, armored combat vehicles, tactical and strategic missiles, security and surveillance, and other defense applications; and gun aiming, stabilization, and automatic ammunition loading for armored combat vehicles.