State of Michigan Retirement System Trims Position in Woodward, Inc. (NASDAQ:WWD)

State of Michigan Retirement System lowered its stake in Woodward, Inc. (NASDAQ:WWD) by 0.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,710 shares of the technology company’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Woodward were worth $2,565,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WWD. Fidelis Capital Partners LLC purchased a new stake in shares of Woodward in the first quarter valued at approximately $31,000. AlphaCentric Advisors LLC purchased a new stake in Woodward during the second quarter worth $37,000. Mather Group LLC. purchased a new stake in Woodward during the first quarter worth $34,000. Principal Securities Inc. acquired a new position in shares of Woodward in the fourth quarter worth $34,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Woodward by 34.7% in the first quarter. Venturi Wealth Management LLC now owns 268 shares of the technology company’s stock worth $41,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WWD. Barclays boosted their price target on Woodward from $140.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft downgraded Woodward from a “buy” rating to a “hold” rating and decreased their target price for the stock from $197.00 to $158.00 in a research report on Wednesday, July 31st. The Goldman Sachs Group reduced their price target on Woodward from $228.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Woodward from $156.00 to $172.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 30th. Finally, TD Cowen dropped their price target on Woodward from $200.00 to $186.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.11.

Woodward Stock Performance

Shares of WWD opened at $166.14 on Wednesday. Woodward, Inc. has a 12 month low of $119.03 and a 12 month high of $188.35. The company’s fifty day moving average is $169.10 and its 200-day moving average is $163.09. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.37. The company has a quick ratio of 1.29, a current ratio of 1.96 and a debt-to-equity ratio of 0.26.

Woodward (NASDAQ:WWD) last posted its earnings results on Monday, July 29th. The technology company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.11. Woodward had a return on equity of 17.16% and a net margin of 11.47%. The firm had revenue of $847.69 million during the quarter, compared to analyst estimates of $853.29 million. During the same period in the previous year, the company earned $1.37 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities analysts expect that Woodward, Inc. will post 5.91 EPS for the current fiscal year.

Woodward Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Thursday, August 22nd. Woodward’s dividend payout ratio is currently 17.48%.

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.