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

Shares of Moog Inc. (NYSE:MOG.A) traded down 5.6% during trading on Wednesday . The stock traded as low as $410.25 and last traded at $413.0140. 134,979 shares were traded during mid-day 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 have issued reports on MOG.A. TD Cowen increased their target price on shares of Moog from $350.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Truist Financial lifted their price objective on Moog from $344.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. started coverage on Moog in a research report on Monday, July 20th. They set an “overweight” rating and a $520.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, Moog currently has an average rating of “Buy” and a consensus price target of $462.33.

Moog Trading Down 7.6%

The firm’s 50-day simple moving average is $409.40 and its 200 day simple moving average is $352.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.09 and a quick ratio of 1.34. The firm has a market capitalization of $12.03 billion, a price-to-earnings ratio of 32.30 and a beta of 0.98.

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

Insider Activity

In related news, Director Janet M. Coletti sold 604 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $379.66, for a total value of $229,314.64. Following the completion of the transaction, the director owned 6,145 shares of the company’s stock, valued at $2,333,010.70. This represents a 8.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Scannell sold 3,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $373.58, for a total transaction of $1,120,740.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. Company insiders own 1.46% of the company’s stock.

Institutional Investors Weigh In On Moog

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

About Moog

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.