Woodward (NASDAQ:WWD) Price Target Lowered to $193.00 at Wells Fargo & Company

Woodward (NASDAQ:WWD - Get Free Report) had its price target dropped by equities researchers at Wells Fargo & Company from $197.00 to $193.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's price target suggests a potential upside of 5.98% from the stock's previous close.

A number of other brokerages also recently issued reports on WWD. StockNews.com raised Woodward from a "hold" rating to a "buy" rating in a research note on Monday, December 2nd. Barclays increased their price target on Woodward from $175.00 to $200.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. TD Cowen reiterated a "hold" rating and issued a $160.00 price objective (down previously from $186.00) on shares of Woodward in a research note on Friday, October 4th. UBS Group increased their target price on shares of Woodward from $209.00 to $228.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $226.00 price target (up from $187.00) on shares of Woodward in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Woodward currently has an average rating of "Moderate Buy" and an average price target of $189.78.

Woodward Trading Up 2.2 %

NASDAQ:WWD traded up $3.98 during mid-day trading on Wednesday, hitting $182.11. 398,312 shares of the company's stock were exchanged, compared to its average volume of 485,102. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 0.26. Woodward has a fifty-two week low of $131.69 and a fifty-two week high of $201.64. The company has a 50 day simple moving average of $174.14 and a 200-day simple moving average of $169.35. The firm has a market capitalization of $10.77 billion, a P/E ratio of 30.30, a PEG ratio of 1.85 and a beta of 1.39.

Woodward (NASDAQ:WWD - Get Free Report) last issued its quarterly earnings data on Monday, November 25th. The technology company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.19. The company had revenue of $855.00 million for the quarter, compared to analysts' expectations of $810.39 million. Woodward had a net margin of 11.22% and a return on equity of 17.13%. Woodward's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 earnings per share. As a group, research analysts expect that Woodward will post 5.98 earnings per share for the current year.

Insider Activity

In other Woodward news, Director John D. Cohn sold 2,400 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $179.57, for a total value of $430,968.00. Following the transaction, the director now owns 20,963 shares of the company's stock, valued at approximately $3,764,325.91. The trade was a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Thomas G. Cromwell sold 10,000 shares of the firm's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $181.85, for a total value of $1,818,500.00. Following the sale, the chief operating officer now directly owns 11,511 shares of the company's stock, valued at approximately $2,093,275.35. This represents a 46.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,313 shares of company stock worth $10,752,072 over the last 90 days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Woodward

A number of large investors have recently bought and sold shares of the company. True Wealth Design LLC bought a new position in shares of Woodward in the third quarter worth $28,000. Wolff Wiese Magana LLC purchased a new stake in shares of Woodward in the third quarter worth about $31,000. Capital Performance Advisors LLP bought a new position in shares of Woodward in the third quarter valued at approximately $41,000. UMB Bank n.a. grew its stake in Woodward by 101.6% during the third quarter. UMB Bank n.a. now owns 246 shares of the technology company's stock valued at $42,000 after acquiring an additional 124 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in Woodward during the 3rd quarter worth approximately $69,000. 81.18% of the stock is owned by hedge funds and other institutional investors.

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.