StockNews.com Initiates Coverage on Woodward (NASDAQ:WWD)

Analysts at StockNews.com assumed coverage on shares of Woodward (NASDAQ:WWD – Get Rating) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

A number of other analysts also recently issued reports on WWD. Barclays reduced their price target on shares of Woodward from $110.00 to $107.00 and set an “equal weight” rating on the stock in a report on Monday, November 21st. The Goldman Sachs Group dropped their price objective on shares of Woodward from $76.00 to $74.00 in a research note on Tuesday, January 31st. Wolfe Research cut shares of Woodward from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, November 22nd. Truist Financial lifted their price objective on shares of Woodward from $88.00 to $93.00 in a research note on Monday, January 9th. Finally, Credit Suisse Group started coverage on shares of Woodward in a research note on Monday, February 27th. They issued an “outperform” rating and a $120.00 price objective for the company. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $107.00.

Woodward Stock Down 2.5 %

Shares of WWD stock opened at $92.34 on Thursday. The company has a market capitalization of $5.52 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 2.08 and a beta of 1.46. Woodward has a one year low of $79.26 and a one year high of $129.12. The company’s fifty day moving average price is $102.71 and its 200-day moving average price is $95.73. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.15 and a quick ratio of 1.24.

Woodward (NASDAQ:WWD – Get Rating) last announced its quarterly earnings results on Monday, January 30th. The technology company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.11). The company had revenue of $619.00 million during the quarter, compared to the consensus estimate of $599.88 million. Woodward had a net margin of 6.95% and a return on equity of 8.57%. The business’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Sell-side analysts expect that Woodward will post 3.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Charles P. Blankenship purchased 500 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was purchased at an average cost of $97.61 per share, with a total value of $48,805.00. Following the purchase, the chief executive officer now owns 49,523 shares in the company, valued at $4,833,940.03. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Rajeev Bhalla acquired 484 shares of the stock in a transaction on Tuesday, February 7th. The stock was bought at an average cost of $103.06 per share, with a total value of $49,881.04. Following the transaction, the director now directly owns 919 shares in the company, valued at $94,712.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles P. Blankenship acquired 500 shares of the stock in a transaction on Friday, February 24th. The stock was bought at an average cost of $97.61 per share, with a total value of $48,805.00. Following the completion of the transaction, the chief executive officer now owns 49,523 shares in the company, valued at $4,833,940.03. The disclosure for this purchase can be found here. 1.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Woodward

Several large investors have recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC bought a new stake in shares of Woodward in the 2nd quarter valued at about $28,000. Quadrant Capital Group LLC raised its holdings in shares of Woodward by 226.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 307 shares of the technology company’s stock valued at $25,000 after purchasing an additional 213 shares in the last quarter. Wipfli Financial Advisors LLC bought a new stake in shares of Woodward in the 3rd quarter valued at about $35,000. TFC Financial Management Inc. bought a new stake in shares of Woodward in the 4th quarter valued at about $43,000. Finally, Johnson Financial Group Inc. bought a new stake in shares of Woodward in the 4th quarter valued at about $58,000. 81.74% of the stock is owned by hedge funds and other institutional investors.

Woodward Company Profile

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Woodward, Inc engages in the provision of control system solutions and components for the aerospace and industrial markets. It operates through the following segments: Aerospace and Industrial. The Aerospace segment designs, manufactures and services systems and products for the management of fuel, air and combustion and motion control.