Royce & Associates LP Has $109.36 Million Position in Woodward, Inc. (WWD)
Royce & Associates LP cut its stake in shares of Woodward, Inc. (NASDAQ:WWD) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,618,210 shares of the technology company’s stock after selling 19,641 shares during the period. Woodward makes up about 0.7% of Royce & Associates LP’s investment portfolio, making the stock its 14th largest position. Royce & Associates LP owned approximately 2.64% of Woodward worth $109,359,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. Sawgrass Asset Management LLC acquired a new position in Woodward during the first quarter worth $206,000. Diversified Trust Co acquired a new position in Woodward during the second quarter worth $213,000. PNC Financial Services Group Inc. boosted its position in Woodward by 66.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,178 shares of the technology company’s stock worth $217,000 after buying an additional 1,266 shares in the last quarter. World Asset Management Inc boosted its position in Woodward by 0.9% in the first quarter. World Asset Management Inc now owns 3,371 shares of the technology company’s stock worth $229,000 after buying an additional 30 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new position in Woodward during the first quarter worth $234,000. Institutional investors own 69.44% of the company’s stock.
Woodward, Inc. (NASDAQ:WWD) traded up 0.21% during midday trading on Friday, reaching $67.37. The company’s stock had a trading volume of 12,745 shares. The company has a market capitalization of $4.13 billion, a P/E ratio of 21.19 and a beta of 1.21. Woodward, Inc. has a 1-year low of $57.09 and a 1-year high of $72.97. The company has a 50 day moving average of $69.07 and a 200-day moving average of $68.72.
Woodward (NASDAQ:WWD) last issued its quarterly earnings results on Monday, July 24th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.09. The company had revenue of $548.62 million for the quarter, compared to the consensus estimate of $530.89 million. Woodward had a return on equity of 16.12% and a net margin of 9.67%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. Equities research analysts anticipate that Woodward, Inc. will post $3.10 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Friday, August 18th. Woodward’s dividend payout ratio is currently 15.77%.
A number of equities analysts have recently weighed in on the company. BidaskClub cut Woodward from a “sell” rating to a “strong sell” rating in a report on Friday. Zacks Investment Research raised Woodward from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. CL King assumed coverage on Woodward in a research note on Thursday, June 22nd. They set a “buy” rating and a $79.00 target price on the stock. Oppenheimer Holdings, Inc. assumed coverage on Woodward in a research note on Friday, July 14th. They set an “outperform” rating and a $82.00 target price on the stock. Finally, Wood & Company assumed coverage on Woodward in a research note on Thursday, July 13th. They set an “outperform” rating and a $82.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Woodward has an average rating of “Hold” and an average price target of $73.89.
In other news, Director John A. Halbrook sold 8,700 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $70.02, for a total value of $609,174.00. Following the sale, the director now directly owns 350,521 shares of the company’s stock, valued at $24,543,480.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul Donovan sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $70.55, for a total value of $402,135.00. Following the completion of the sale, the director now directly owns 39,052 shares in the company, valued at $2,755,118.60. The disclosure for this sale can be found here. Company insiders own 5.93% of the company’s stock.
Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.
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