GW&K Investment Management LLC Reduces Stock Holdings in Woodward, Inc. (NASDAQ:WWD)

GW&K Investment Management LLC cut its position in shares of Woodward, Inc. (NASDAQ:WWDGet Rating) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,218 shares of the technology company’s stock after selling 2,688 shares during the period. GW&K Investment Management LLC owned 0.12% of Woodward worth $8,343,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC purchased a new stake in Woodward during the fourth quarter worth $26,000. Sageworth Trust Co of South Dakota acquired a new position in Woodward during the fourth quarter worth $26,000. Manchester Capital Management LLC acquired a new position in Woodward during the third quarter worth $31,000. FSB Premier Wealth Management Inc. acquired a new position in Woodward during the fourth quarter worth $71,000. Finally, UMB Bank N A MO acquired a new position in Woodward during the fourth quarter worth $78,000. 80.05% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on WWD. Truist Financial reduced their price objective on shares of Woodward from $143.00 to $138.00 in a research report on Tuesday, May 3rd. Cowen reduced their price objective on shares of Woodward from $130.00 to $125.00 in a research report on Tuesday, May 3rd. Jefferies Financial Group increased their target price on shares of Woodward from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, March 10th. William Blair reiterated an “outperform” rating on shares of Woodward in a research report on Thursday, March 10th. Finally, StockNews.com initiated coverage on shares of Woodward in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $125.38.

WWD stock traded down $1.58 during mid-day trading on Friday, hitting $95.40. 399,613 shares of the company were exchanged, compared to its average volume of 594,529. Woodward, Inc. has a 12-month low of $93.20 and a 12-month high of $129.57. The firm has a market capitalization of $6.02 billion, a P/E ratio of 35.20, a PEG ratio of 2.17 and a beta of 1.50. The business has a fifty day simple moving average of $114.60 and a 200-day simple moving average of $113.89. The company has a quick ratio of 2.29, a current ratio of 3.61 and a debt-to-equity ratio of 0.35.

Woodward (NASDAQ:WWDGet Rating) last announced its earnings results on Monday, May 2nd. The technology company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.14). Woodward had a net margin of 7.85% and a return on equity of 8.53%. During the same period in the prior year, the firm posted $1.04 EPS. Research analysts predict that Woodward, Inc. will post 3.31 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Tuesday, May 17th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, May 16th. This represents a $0.76 annualized dividend and a yield of 0.80%. Woodward’s dividend payout ratio is currently 28.04%.

In related news, CEO Thomas A. Gendron sold 70,895 shares of the stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $122.19, for a total value of $8,662,660.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles P. Blankenship purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was bought at an average price of $98.10 per share, with a total value of $49,050.00. Following the transaction, the chief executive officer now directly owns 1,100 shares in the company, valued at $107,910. The disclosure for this purchase can be found here. Company insiders own 3.90% of the company’s stock.

About Woodward (Get Rating)

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates through 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.

See Also

Institutional Ownership by Quarter for Woodward (NASDAQ:WWD)

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