Woodward, Inc. (NASDAQ:WWD) Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in shares of Woodward, Inc. (NASDAQ:WWD - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,729 shares of the technology company's stock after selling 1,500 shares during the period. PNC Financial Services Group Inc. owned 0.10% of Woodward worth $9,441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Woodward by 4.8% in the third quarter. State Street Corp now owns 2,421,483 shares of the technology company's stock worth $415,309,000 after buying an additional 110,569 shares during the last quarter. Geode Capital Management LLC grew its position in Woodward by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,278,502 shares of the technology company's stock worth $219,321,000 after buying an additional 59,290 shares during the last quarter. JPMorgan Chase & Co. grew its position in Woodward by 135.1% in the third quarter. JPMorgan Chase & Co. now owns 992,189 shares of the technology company's stock worth $170,170,000 after buying an additional 570,124 shares during the last quarter. Naya Capital Management UK Ltd. acquired a new position in Woodward in the third quarter worth approximately $99,000,000. Finally, Charles Schwab Investment Management Inc. grew its position in Woodward by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,977 shares of the technology company's stock worth $83,872,000 after buying an additional 3,099 shares during the last quarter. Institutional investors own 81.18% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial lifted their price target on shares of Woodward from $226.00 to $229.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Barclays lifted their price objective on shares of Woodward from $175.00 to $200.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 3rd. StockNews.com upgraded shares of Woodward from a "hold" rating to a "buy" rating in a research report on Friday, March 7th. UBS Group lifted 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 lifted their price objective 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 equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $197.38.

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Woodward Stock Up 2.7 %

WWD stock opened at $177.93 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.19 and a debt-to-equity ratio of 0.22. Woodward, Inc. has a 1 year low of $144.13 and a 1 year high of $201.64. The company has a fifty day simple moving average of $184.39 and a 200 day simple moving average of $174.71. The firm has a market cap of $10.56 billion, a PE ratio of 29.80, a PEG ratio of 2.37 and a beta of 1.39.

Woodward (NASDAQ:WWD - Get Free Report) last released its quarterly earnings data on Monday, February 3rd. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.21. Woodward had a net margin of 11.18% and a return on equity of 16.76%. During the same period last year, the firm posted $1.45 earnings per share. Sell-side analysts anticipate that Woodward, Inc. will post 6.15 EPS for the current fiscal year.

Woodward Increases Dividend

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

Insider Activity at Woodward

In other Woodward news, Director Gregg C. Sengstack sold 4,600 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $187.86, for a total transaction of $864,156.00. Following the completion of the transaction, the director now owns 17,450 shares of the company's stock, valued at $3,278,157. The trade was a 20.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.82% of the stock is owned by company insiders.

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.

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