Woodward (NASDAQ:WWD) Trading 3.8% Higher on Strong Earnings

Woodward, Inc. (NASDAQ:WWD)’s stock price traded up 3.8% on Tuesday following a better than expected earnings announcement. The stock traded as high as $193.00 and last traded at $188.33. 114,683 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 468,921 shares. The stock had previously closed at $181.45.

The technology company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.25. The company had revenue of $883.63 million for the quarter, compared to analysts’ expectations of $838.61 million. Woodward had a net margin of 11.18% and a return on equity of 16.76%. Woodward’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 EPS.

Woodward Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. Woodward’s dividend payout ratio is currently 18.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Woodward from a “buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Wells Fargo & Company reaffirmed a “reduce” rating on shares of Woodward in a report on Tuesday, April 15th. Truist Financial lowered their price objective on Woodward from $229.00 to $205.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft set a $187.00 target price on shares of Woodward and gave the stock a “hold” rating in a report on Monday, April 14th. Finally, UBS Group upped their price objective on shares of Woodward from $216.00 to $232.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $193.75.

Insider Activity

In other news, Director Gregg C. Sengstack sold 4,600 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $187.86, for a total value of $864,156.00. Following the completion of the sale, the director now directly 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 document filed with the SEC, which is available at this hyperlink. Also, COO Thomas G. Cromwell sold 10,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $184.50, for a total value of $1,845,000.00. Following the completion of the sale, the chief operating officer now owns 15,477 shares of the company’s stock, valued at $2,855,506.50. The trade was a 39.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,900 shares of company stock valued at $5,215,444 in the last quarter. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Woodward

A number of hedge funds and other institutional investors have recently modified their holdings of WWD. Atomi Financial Group Inc. increased its position in shares of Woodward by 5.1% during the 4th quarter. Atomi Financial Group Inc. now owns 1,355 shares of the technology company’s stock valued at $225,000 after purchasing an additional 66 shares during the last quarter. Assetmark Inc. increased its holdings 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 purchasing an additional 69 shares during the period. Delta Capital Management LLC raised its holdings in shares of Woodward by 4.0% in the fourth quarter. Delta Capital Management LLC now owns 1,805 shares of the technology company’s stock valued at $300,000 after acquiring an additional 70 shares in the last quarter. Summit Financial LLC raised its holdings in shares of Woodward by 6.5% in the 4th quarter. Summit Financial LLC now owns 1,324 shares of the technology company’s stock valued at $220,000 after purchasing an additional 81 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Woodward by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,649 shares of the technology company’s stock worth $1,396,000 after buying an additional 82 shares during the period. Institutional investors own 81.18% of the company’s stock.

Woodward Stock Up 3.4 %

The stock has a market capitalization of $11.14 billion, a PE ratio of 31.66, a PEG ratio of 2.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.19 and a current ratio of 1.89. The business has a 50 day moving average of $178.13 and a two-hundred day moving average of $177.52.

About Woodward

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.