Oppenheimer & Co. Inc. purchased a new stake in Woodward, Inc. (NASDAQ:WWD - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 22,875 shares of the technology company's stock, valued at approximately $3,923,000.
Several other hedge funds have also recently modified their holdings of WWD. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Woodward by 3.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,173 shares of the technology company's stock worth $489,000 after purchasing an additional 97 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Woodward by 222.7% during the first quarter. Russell Investments Group Ltd. now owns 23,990 shares of the technology company's stock valued at $3,716,000 after buying an additional 16,557 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Woodward by 4.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 61,484 shares of the technology company's stock valued at $9,476,000 after buying an additional 2,778 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Woodward by 13.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 870 shares of the technology company's stock valued at $133,000 after buying an additional 100 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Woodward by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,835,915 shares of the technology company's stock worth $899,431,000 after buying an additional 77,654 shares during the last quarter. Hedge funds and other institutional investors own 81.18% of the company's stock.
Analyst Ratings Changes
WWD has been the subject of several recent analyst reports. StockNews.com upgraded shares of Woodward from a "hold" rating to a "buy" rating in a research note on Thursday. The Goldman Sachs Group lowered their price objective on Woodward from $228.00 to $201.00 and set a "buy" rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group upgraded Woodward from a "hold" rating to a "buy" rating and boosted their target price for the stock from $170.00 to $190.00 in a research note on Wednesday, July 31st. TD Cowen reiterated a "hold" rating and issued a $160.00 price target (down from $186.00) on shares of Woodward in a research note on Friday, October 4th. Finally, Truist Financial raised Woodward from a "hold" rating to a "buy" rating and raised their price target for the stock from $152.00 to $187.00 in a report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $174.67.
Get Our Latest Stock Report on WWD
Insider Activity
In related news, COO Thomas G. Cromwell sold 10,000 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $177.65, for a total transaction of $1,776,500.00. Following the sale, the chief operating officer now directly owns 11,511 shares of the company's stock, valued at $2,044,929.15. This trade represents a 46.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 27,913 shares of company stock valued at $4,907,304 in the last ninety days. Insiders own 1.12% of the company's stock.
Woodward Stock Performance
Shares of NASDAQ:WWD traded down $3.34 during trading on Friday, hitting $169.55. The stock had a trading volume of 282,573 shares, compared to its average volume of 406,619. The stock has a 50-day simple moving average of $167.09 and a two-hundred day simple moving average of $170.86. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of 1.84 and a beta of 1.38. Woodward, Inc. has a 12-month low of $126.31 and a 12-month high of $188.35. The company has a quick ratio of 1.29, a current ratio of 1.96 and a debt-to-equity ratio of 0.26.
Woodward Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.59%. The ex-dividend date is Thursday, November 21st. Woodward's payout ratio is 16.72%.
About Woodward
(
Free Report)
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.
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