Bank of Nova Scotia Invests $1.42 Million in Woodward, Inc. (NASDAQ:WWD)

Bank of Nova Scotia acquired a new position in Woodward, Inc. (NASDAQ:WWDFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,400 shares of the technology company’s stock, valued at approximately $1,416,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in Woodward by 3.2% during the 3rd quarter. Victory Capital Management Inc. now owns 10,325 shares of the technology company’s stock valued at $1,283,000 after purchasing an additional 322 shares in the last quarter. Amalgamated Bank increased its stake in Woodward by 2.4% during the 3rd quarter. Amalgamated Bank now owns 39,878 shares of the technology company’s stock valued at $4,955,000 after purchasing an additional 916 shares in the last quarter. Swiss National Bank increased its stake in Woodward by 1.5% during the 3rd quarter. Swiss National Bank now owns 125,400 shares of the technology company’s stock valued at $15,582,000 after purchasing an additional 1,900 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Woodward by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 496,844 shares of the technology company’s stock valued at $61,738,000 after purchasing an additional 1,783 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Woodward by 42.8% during the 3rd quarter. Van ECK Associates Corp now owns 9,970 shares of the technology company’s stock valued at $1,239,000 after purchasing an additional 2,988 shares in the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

Woodward Stock Performance

Shares of NASDAQ WWD opened at $182.07 on Friday. The company’s fifty day moving average price is $166.17 and its 200 day moving average price is $148.18. Woodward, Inc. has a 1 year low of $109.24 and a 1 year high of $188.35. The company has a market capitalization of $11.09 billion, a PE ratio of 31.83, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.78 and a current ratio of 2.62.

Woodward (NASDAQ:WWDGet Free Report) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.34. Woodward had a net margin of 11.09% and a return on equity of 16.50%. The firm had revenue of $835.34 million for the quarter, compared to the consensus estimate of $807.04 million. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, research analysts predict that Woodward, Inc. will post 5.88 earnings per share for the current year.

Woodward Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Tuesday, May 21st. Woodward’s dividend payout ratio (DPR) is presently 17.48%.

Analyst Ratings Changes

A number of brokerages have issued reports on WWD. The Goldman Sachs Group upped their price target on shares of Woodward from $159.00 to $201.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Barclays upped their price target on shares of Woodward from $140.00 to $175.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Woodward from $200.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Truist Financial upped their price objective on shares of Woodward from $143.00 to $152.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company upped their price objective on shares of Woodward from $156.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.38.

Read Our Latest Stock Analysis on Woodward

Insider Buying and Selling at Woodward

In other Woodward news, Director Gregg C. Sengstack sold 6,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $167.01, for a total transaction of $1,002,060.00. Following the transaction, the director now directly owns 17,450 shares of the company’s stock, valued at $2,914,324.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.12% of the company’s stock.

Woodward Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Woodward (NASDAQ:WWD)

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