Legal & General Group Plc Has $3.89 Million Position in Woodward, Inc. (WWD)
Legal & General Group Plc boosted its stake in Woodward, Inc. (NASDAQ:WWD) by 12.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,595 shares of the technology company’s stock after purchasing an additional 6,538 shares during the quarter. Legal & General Group Plc owned about 0.09% of Woodward worth $3,894,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Diversified Trust Co bought a new position in Woodward in the second quarter valued at about $213,000. PNC Financial Services Group Inc. grew 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 valued at $217,000 after acquiring an additional 1,266 shares during the last quarter. HighTower Advisors LLC bought a new position in Woodward in the first quarter valued at about $234,000. World Asset Management Inc grew 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 valued at $229,000 after acquiring an additional 30 shares during the last quarter. Finally, ING Groep NV bought a new position in Woodward in the second quarter valued at about $453,000. 71.27% of the stock is owned by institutional investors and hedge funds.
In other news, Director John A. Halbrook sold 1,800 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $70.60, for a total transaction of $127,080.00. Following the transaction, the director now directly owns 345,721 shares in the company, valued at approximately $24,407,902.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Donovan sold 5,700 shares of the 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 transaction, the director now owns 39,052 shares in the company, valued at $2,755,118.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,200 shares of company stock worth $1,138,389. Insiders own 5.93% of the company’s stock.
Shares of Woodward, Inc. (WWD) opened at 72.50 on Thursday. The company has a market capitalization of $4.45 billion, a PE ratio of 22.80 and a beta of 1.21. The stock’s 50 day moving average price is $69.56 and its 200 day moving average price is $68.65. Woodward, Inc. has a 12-month low of $57.09 and a 12-month high of $72.97.
Woodward (NASDAQ:WWD) last released its quarterly earnings results on Monday, July 24th. The technology company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.09. Woodward had a return on equity of 16.12% and a net margin of 9.67%. The firm had revenue of $548.62 million for the quarter, compared to analysts’ expectations of $530.89 million. During the same quarter last year, the firm posted $0.81 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Woodward, Inc. will post $3.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.50 annualized dividend and a dividend yield of 0.69%. Woodward’s payout ratio is currently 15.77%.
A number of research analysts have issued reports on the company. Wood & Company assumed coverage on Woodward in a research report on Thursday, July 13th. They issued an “outperform” rating and a $82.00 target price on the stock. BidaskClub cut Woodward from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Oppenheimer Holdings, Inc. assumed coverage on Woodward in a research report on Friday, July 14th. They issued an “outperform” rating and a $82.00 target price on the stock. Zacks Investment Research upgraded Woodward from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, CIBC assumed coverage on Woodward in a research report on Friday, July 14th. They issued an “outperform” rating and a $82.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Woodward has a consensus rating of “Hold” and an average target price of $73.89.
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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