Woodward (NASDAQ:WWD) Reaches New 12-Month High – Here’s Why

Woodward, Inc. (NASDAQ:WWD)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $218.52 and last traded at $218.47, with a volume of 422944 shares changing hands. The stock had previously closed at $210.61.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WWD. Deutsche Bank Aktiengesellschaft set a $187.00 target price on Woodward and gave the company a “hold” rating in a report on Monday, April 14th. Truist Financial set a $232.00 price objective on Woodward in a research note on Friday. UBS Group increased their price objective on Woodward from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Wells Fargo & Company increased their price objective on Woodward from $175.00 to $193.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $245.00 price objective (up previously from $225.00) on shares of Woodward in a research note on Friday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.75.

Woodward Trading Up 3.7%

The business has a 50 day simple moving average of $185.88 and a 200-day simple moving average of $182.44. The company has a current ratio of 1.89, a quick ratio of 1.19 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 36.59, a price-to-earnings-growth ratio of 2.37 and a beta of 1.24.

Woodward (NASDAQ:WWD) last issued its quarterly earnings results on Monday, April 28th. The technology company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.25. Woodward had a return on equity of 16.76% and a net margin of 11.18%. The firm had revenue of $883.63 million for the quarter, compared to analyst estimates of $838.61 million. During the same period last year, the company earned $1.62 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities analysts predict that Woodward, Inc. will post 6.15 earnings per share for the current year.

Woodward Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a $0.28 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.51%. Woodward’s dividend payout ratio (DPR) is 18.09%.

Insider Transactions at Woodward

In related news, CEO Charles P. Blankenship sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $205.57, for a total transaction of $1,027,850.00. Following the sale, the chief executive officer now directly owns 73,117 shares in the company, valued at approximately $15,030,661.69. This trade represents a 6.40% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregg C. Sengstack sold 4,600 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $187.86, for a total value of $864,156.00. Following the sale, the director now owns 17,450 shares in the company, valued at approximately $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. Insiders have sold a total of 40,700 shares of company stock worth $7,851,450 in the last three months. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Woodward

Several hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings in shares of Woodward by 684.3% during the 1st quarter. Acadian Asset Management LLC now owns 5,043 shares of the technology company’s stock valued at $920,000 after buying an additional 4,400 shares during the period. Intech Investment Management LLC raised its holdings in shares of Woodward by 0.5% during the 1st quarter. Intech Investment Management LLC now owns 45,928 shares of the technology company’s stock valued at $8,381,000 after buying an additional 216 shares during the period. Focus Partners Wealth raised its holdings in shares of Woodward by 35.5% during the 1st quarter. Focus Partners Wealth now owns 2,390 shares of the technology company’s stock valued at $436,000 after buying an additional 626 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Woodward by 0.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 165,286 shares of the technology company’s stock valued at $30,163,000 after buying an additional 1,146 shares during the period. Finally, Woodline Partners LP purchased a new stake in shares of Woodward during the 1st quarter valued at about $2,039,000. 81.18% of the stock is currently 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.