Woodward (NASDAQ:WWD) Given New $260.00 Price Target at Barclays

Woodward (NASDAQ:WWD) had its price target raised by Barclays from $200.00 to $260.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on WWD. Wall Street Zen upgraded Woodward from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Wells Fargo & Company upped their target price on shares of Woodward from $175.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. The Goldman Sachs Group raised their target price on Woodward from $229.00 to $255.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Northcoast Research upgraded shares of Woodward to a “hold” rating in a research note on Friday, July 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $245.00 target price (up previously from $225.00) on shares of Woodward in a research report on Friday, May 23rd. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Woodward currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.63.

Woodward Stock Performance

NASDAQ WWD opened at $259.87 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $15.43 billion, a PE ratio of 41.12, a price-to-earnings-growth ratio of 2.79 and a beta of 1.30. Woodward has a twelve month low of $145.98 and a twelve month high of $267.45. The business’s 50-day moving average price is $243.90 and its 200 day moving average price is $206.12.

Woodward (NASDAQ:WWD) last issued its quarterly earnings data on Monday, July 28th. The technology company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.14. Woodward had a net margin of 11.32% and a return on equity of 16.57%. The company had revenue of $915.45 million during the quarter, compared to the consensus estimate of $884.98 million. During the same quarter last year, the company earned $1.63 earnings per share. Woodward’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts predict that Woodward will post 6.15 earnings per share for the current year.

Woodward Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, August 21st. Woodward’s dividend payout ratio is currently 17.72%.

Insider Buying and Selling

In other news, CEO Charles P. Blankenship sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $215.98, for a total value of $1,079,900.00. Following the sale, the chief executive officer owned 73,117 shares in the company, valued at approximately $15,791,809.66. This trade represents a 6.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Terence J. Voskuil sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $231.03, for a total transaction of $2,310,300.00. Following the transaction, the executive vice president owned 4,945 shares of the company’s stock, valued at approximately $1,142,443.35. The trade was a 66.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,296 shares of company stock worth $8,711,033 in the last quarter. 0.82% of the stock is currently owned by company insiders.

Institutional Trading of Woodward

A number of institutional investors and hedge funds have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its stake in Woodward by 191.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 166 shares of the technology company’s stock worth $30,000 after purchasing an additional 109 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Woodward by 2,314.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the technology company’s stock worth $31,000 after buying an additional 162 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Woodward by 189.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171 shares of the technology company’s stock worth $31,000 after buying an additional 112 shares during the period. TCTC Holdings LLC boosted its stake in Woodward by 116.7% in the 1st quarter. TCTC Holdings LLC now owns 182 shares of the technology company’s stock valued at $33,000 after buying an additional 98 shares in the last quarter. Finally, Virtus Advisers LLC bought a new stake in Woodward in the first quarter valued at $38,000. 81.18% of the stock is currently owned by institutional investors.

About Woodward

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.