Woodward, Inc. (NASDAQ:WWD) Shares Sold by M&T Bank Corp

M&T Bank Corp trimmed its stake in Woodward, Inc. (NASDAQ:WWD - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,100 shares of the technology company's stock after selling 1,634 shares during the period. M&T Bank Corp's holdings in Woodward were worth $4,510,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WWD. Atria Investments Inc increased its position in shares of Woodward by 7.0% in the 4th quarter. Atria Investments Inc now owns 3,936 shares of the technology company's stock valued at $655,000 after acquiring an additional 256 shares during the period. Assetmark Inc. raised its position in Woodward by 20.8% during the 4th quarter. Assetmark Inc. now owns 401 shares of the technology company's stock worth $67,000 after buying an additional 69 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Woodward by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 503,977 shares of the technology company's stock valued at $83,872,000 after acquiring an additional 3,099 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Woodward by 32.5% in the fourth quarter. Jones Financial Companies Lllp now owns 8,862 shares of the technology company's stock worth $1,475,000 after acquiring an additional 2,176 shares during the period. Finally, US Bancorp DE raised its holdings in shares of Woodward by 4.2% during the fourth quarter. US Bancorp DE now owns 30,623 shares of the technology company's stock worth $5,096,000 after purchasing an additional 1,247 shares during the last quarter. 81.18% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WWD shares. Barclays raised their price objective on shares of Woodward from $175.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 3rd. StockNews.com upgraded Woodward from a "hold" rating to a "buy" rating in a report on Friday. Truist Financial lifted their target price on Woodward from $226.00 to $229.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. UBS Group increased their price objective on shares of Woodward from $216.00 to $232.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company increased their price target on shares of Woodward from $193.00 to $205.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Woodward currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.38.

Insider Transactions at Woodward

In related news, Director Gregg C. Sengstack sold 4,600 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $187.86, for a total transaction of $864,156.00. Following the transaction, the director now owns 17,450 shares of the company's stock, valued at $3,278,157. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.82% of the company's stock.

Woodward Stock Up 2.7 %

Shares of NASDAQ WWD traded up $4.69 during midday trading on Tuesday, hitting $177.93. 607,812 shares of the company's stock were exchanged, compared to its average volume of 459,788. The company has a market cap of $10.56 billion, a PE ratio of 29.80, a P/E/G ratio of 2.37 and a beta of 1.39. Woodward, Inc. has a twelve month low of $144.13 and a twelve month high of $201.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.89 and a quick ratio of 1.19. The firm's fifty day simple moving average is $184.39 and its 200-day simple moving average is $174.71.

Woodward (NASDAQ:WWD - Get Free Report) last posted its earnings results on Monday, February 3rd. The technology company reported $1.35 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $1.45 earnings per share. Research analysts predict that Woodward, Inc. will post 6.15 EPS for the current fiscal year.

Woodward Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, February 20th. This is a boost from Woodward's previous quarterly dividend of $0.25. Woodward's payout ratio is 18.76%.

Woodward 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.