Bank of New York Mellon Corp Has $83.55 Million Stock Position in Woodward, Inc. (NASDAQ:WWD)

Bank of New York Mellon Corp increased its stake in Woodward, Inc. (NASDAQ:WWD - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 502,067 shares of the technology company's stock after purchasing an additional 19,868 shares during the period. Bank of New York Mellon Corp owned 0.85% of Woodward worth $83,554,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new position in Woodward during the 3rd quarter worth $28,000. Berbice Capital Management LLC acquired a new position in Woodward during the 4th quarter worth $33,000. Capital Performance Advisors LLP acquired a new position in Woodward during the 3rd quarter worth $41,000. Mather Group LLC. boosted its position in Woodward by 44.8% during the 4th quarter. Mather Group LLC. now owns 278 shares of the technology company's stock worth $46,000 after acquiring an additional 86 shares during the period. Finally, R Squared Ltd acquired a new position in Woodward during the 4th quarter worth $57,000. Institutional investors own 81.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Woodward from $193.00 to $205.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. StockNews.com lowered Woodward from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. UBS Group boosted their price target on Woodward from $216.00 to $232.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Barclays upped their price objective on Woodward from $175.00 to $200.00 and gave the company an "equal weight" rating in a report on Tuesday, December 3rd. Finally, Truist Financial upped their price objective on Woodward from $226.00 to $229.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $197.38.

Insider Transactions at Woodward

In related news, COO Thomas G. Cromwell sold 10,000 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $181.85, for a total transaction of $1,818,500.00. Following the transaction, the chief operating officer now directly owns 11,511 shares of the company's stock, valued at approximately $2,093,275.35. The trade was a 46.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is owned by insiders.

Woodward Price Performance

Shares of Woodward stock traded down $6.05 during trading on Tuesday, hitting $178.28. The stock had a trading volume of 490,867 shares, compared to its average volume of 451,380. The business has a fifty day moving average of $183.65 and a two-hundred day moving average of $173.97. The firm has a market cap of $10.58 billion, a P/E ratio of 29.86, a PEG ratio of 2.37 and a beta of 1.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.89 and a quick ratio of 1.19. Woodward, Inc. has a fifty-two week low of $143.03 and a fifty-two week high of $201.64.

Woodward (NASDAQ:WWD - Get Free Report) last announced its earnings results on Monday, February 3rd. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.21. Woodward had a return on equity of 16.76% and a net margin of 11.18%. During the same quarter last year, the firm earned $1.45 EPS. On average, sell-side analysts expect that Woodward, Inc. will post 6.15 earnings per share for the current fiscal year.

Woodward Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, February 20th. This is a positive change from Woodward's previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.63%. Woodward's payout ratio is 18.76%.

Woodward Company Profile

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates in two segments, Aerospace and Industrial. The Aerospace segment provides fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servocontrols, motors, and sensors for aircraft.