Picton Mahoney Asset Management Invests $107,000 in Woodward, Inc. (NASDAQ:WWD)

Picton Mahoney Asset Management acquired a new stake in Woodward, Inc. (NASDAQ:WWD) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 615 shares of the technology company’s stock, valued at approximately $107,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Venturi Wealth Management LLC increased its holdings in Woodward by 34.7% in the first quarter. Venturi Wealth Management LLC now owns 268 shares of the technology company’s stock valued at $41,000 after purchasing an additional 69 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Woodward by 2.4% in the second quarter. Park Avenue Securities LLC now owns 3,277 shares of the technology company’s stock worth $571,000 after acquiring an additional 76 shares in the last quarter. CWM LLC increased its holdings in shares of Woodward by 22.8% in the fourth quarter. CWM LLC now owns 491 shares of the technology company’s stock worth $67,000 after acquiring an additional 91 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Woodward by 0.3% in the first quarter. Fifth Third Bancorp now owns 28,741 shares of the technology company’s stock worth $4,430,000 after acquiring an additional 93 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of Woodward by 3.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,268 shares of the technology company’s stock worth $570,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 81.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on WWD shares. Deutsche Bank Aktiengesellschaft downgraded Woodward from a “buy” rating to a “hold” rating and lowered their price target for the stock from $197.00 to $158.00 in a report on Wednesday, July 31st. The Goldman Sachs Group lowered 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. Truist Financial raised Woodward from a “hold” rating to a “buy” rating and upped their price objective for the stock from $152.00 to $187.00 in a research report on Wednesday, August 21st. Barclays upped their price objective on Woodward from $140.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Finally, Jefferies Financial Group raised Woodward from a “hold” rating to a “buy” rating and upped their price objective for the stock from $170.00 to $190.00 in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $177.11.

Woodward Stock Performance

Shares of NASDAQ WWD opened at $166.65 on Monday. The stock has a 50 day moving average price of $168.00 and a 200 day moving average price of $163.70. Woodward, Inc. has a 52 week low of $119.03 and a 52 week high of $188.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.96. The stock has a market capitalization of $9.94 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 1.75 and a beta of 1.37.

Woodward (NASDAQ:WWD) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $1.63 EPS for the quarter, beating 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 analysts’ expectations of $853.29 million. During the same period in the prior year, the firm posted $1.37 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts predict that Woodward, Inc. will post 5.91 earnings per share for the current fiscal year.

Woodward Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be given a $0.25 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.60%. Woodward’s payout ratio is 17.48%.

Woodward 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.