Cresset Asset Management LLC Sells 72,579 Shares of Woodward, Inc. (NASDAQ:WWD)

Cresset Asset Management LLC lessened its position in Woodward, Inc. (NASDAQ:WWD) by 96.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,755 shares of the technology company’s stock after selling 72,579 shares during the period. Cresset Asset Management LLC’s holdings in Woodward were worth $458,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Berbice Capital Management LLC purchased a new position in shares of Woodward during the 4th quarter worth approximately $33,000. NBT Bank N A NY bought a new stake in shares of Woodward during the fourth quarter valued at approximately $34,000. Mather Group LLC. grew its stake in Woodward by 44.8% in the fourth quarter. Mather Group LLC. now owns 278 shares of the technology company’s stock worth $46,000 after purchasing an additional 86 shares during the period. R Squared Ltd bought a new position in Woodward in the fourth quarter worth $57,000. Finally, Global Retirement Partners LLC raised its holdings in Woodward by 94.2% in the fourth quarter. Global Retirement Partners LLC now owns 371 shares of the technology company’s stock worth $62,000 after purchasing an additional 180 shares in the last quarter. Institutional investors own 81.18% of the company’s stock.

Wall Street Analyst Weigh In

WWD has been the topic of a number of research reports. Truist Financial boosted their target price on shares of Woodward from $205.00 to $209.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. StockNews.com raised shares of Woodward from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Wells Fargo & Company upped their price objective on shares of Woodward from $175.00 to $193.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. UBS Group lifted their target price on shares of Woodward from $200.00 to $220.00 and gave the company a “buy” rating in a report on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft set a $187.00 price target on Woodward and gave the stock a “hold” rating in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.00.

Woodward Price Performance

Shares of WWD opened at $206.08 on Thursday. Woodward, Inc. has a twelve month low of $145.98 and a twelve month high of $208.14. The company has a market capitalization of $12.23 billion, a P/E ratio of 34.52, a price-to-earnings-growth ratio of 2.37 and a beta of 1.24. The firm has a 50 day moving average of $181.11 and a 200 day moving average of $179.91. The company has a quick ratio of 1.19, a current ratio of 1.89 and a debt-to-equity ratio of 0.22.

Woodward (NASDAQ:WWD) last released its quarterly earnings data on Monday, April 28th. The technology company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.25. The business had revenue of $883.63 million for the quarter, compared to analysts’ expectations of $838.61 million. Woodward had a return on equity of 16.76% and a net margin of 11.18%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 EPS. As a group, equities research analysts anticipate that Woodward, Inc. will post 6.15 earnings per share for the current fiscal year.

Woodward Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a $0.28 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.12 annualized dividend and a yield of 0.54%. Woodward’s dividend payout ratio (DPR) is presently 18.09%.

Insider Activity at Woodward

In other news, 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 transaction of $1,845,000.00. Following the transaction, the chief operating officer now directly owns 15,477 shares of the company’s stock, valued at $2,855,506.50. This represents a 39.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the director now directly owns 17,450 shares in the company, valued at $3,278,157. The trade was a 20.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,700 shares of company stock valued at $5,751,700. 0.82% of the stock is owned by corporate 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.