Envestnet Asset Management Inc. lessened its holdings in shares of Woodward, Inc. (NASDAQ:WWD – Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,654 shares of the technology company’s stock after selling 5,464 shares during the period. Envestnet Asset Management Inc. owned approximately 0.14% of Woodward worth $9,947,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. American Century Companies Inc. raised its position in shares of Woodward by 11.5% in the 1st quarter. American Century Companies Inc. now owns 6,324 shares of the technology company’s stock valued at $790,000 after purchasing an additional 653 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Woodward by 15.4% in the first quarter. BlackRock Inc. now owns 5,749,193 shares of the technology company’s stock worth $718,131,000 after buying an additional 768,984 shares during the last quarter. APG Asset Management N.V. purchased a new position in Woodward in the 1st quarter worth $516,000. Great West Life Assurance Co. Can lifted its holdings in shares of Woodward by 7.9% during the first quarter. Great West Life Assurance Co. Can now owns 34,401 shares of the technology company’s stock worth $4,411,000 after purchasing an additional 2,520 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of Woodward by 7.5% in the 1st quarter. Sei Investments Co. now owns 224,853 shares of the technology company’s stock valued at $28,088,000 after acquiring an additional 15,738 shares during the last quarter. Institutional investors and hedge funds own 79.63% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on WWD shares. TD Cowen upgraded Woodward from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $135.00 to $160.00 in a research note on Tuesday, September 5th. Truist Financial upped their price objective on shares of Woodward from $110.00 to $124.00 and gave the stock a “hold” rating in a research report on Tuesday, August 1st. StockNews.com started coverage on Woodward in a research report on Thursday, October 5th. They set a “buy” rating on the stock. UBS Group began coverage on Woodward in a report on Tuesday, October 10th. They issued a “buy” rating and a $152.00 price target for the company. Finally, Barclays raised their price objective on Woodward from $112.00 to $128.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Woodward presently has an average rating of “Hold” and a consensus price target of $133.22.
Woodward Stock Performance
NASDAQ WWD opened at $134.64 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.54 and a quick ratio of 1.63. The stock’s 50 day simple moving average is $127.34 and its 200-day simple moving average is $121.05. The company has a market cap of $8.13 billion, a PE ratio of 40.55, a price-to-earnings-growth ratio of 1.56 and a beta of 1.44. Woodward, Inc. has a 1-year low of $88.30 and a 1-year high of $136.70.
Woodward Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.88 annualized dividend and a yield of 0.65%. Woodward’s dividend payout ratio (DPR) is presently 26.51%.
Insiders Place Their Bets
In other Woodward news, Director Rajeev Bhalla bought 399 shares of Woodward stock in a transaction dated Thursday, August 24th. The stock was acquired at an average cost of $125.07 per share, for a total transaction of $49,902.93. Following the completion of the transaction, the director now directly owns 1,779 shares of the company’s stock, valued at $222,499.53. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Rajeev Bhalla bought 399 shares of the stock in a transaction dated Thursday, August 24th. The shares were acquired at an average cost of $125.07 per share, for a total transaction of $49,902.93. Following the acquisition, the director now directly owns 1,779 shares in the company, valued at approximately $222,499.53. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher Fawzy sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $130.00, for a total value of $650,000.00. Following the completion of the sale, the vice president now directly owns 4,989 shares of the company’s stock, valued at approximately $648,570. The disclosure for this sale can be found here. 1.19% of the stock is currently owned by corporate insiders.
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.
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