Woodward (NASDAQ:WWD) Cut to Hold at Truist Financial

Truist Financial lowered shares of Woodward (NASDAQ:WWDGet Rating) from a buy rating to a hold rating in a report published on Tuesday morning, Marketbeat reports. The firm currently has $88.00 target price on the technology company’s stock, down from their prior target price of $121.00.

Other equities analysts also recently issued reports about the company. Cowen dropped their target price on Woodward from $130.00 to $125.00 in a research report on Tuesday, May 3rd. Cowen decreased their target price on Woodward from $130.00 to $125.00 in a research note on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Woodward currently has a consensus rating of Hold and an average target price of $114.29.

Woodward Stock Performance

WWD stock opened at $95.23 on Tuesday. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 2.64 and a beta of 1.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.29 and a current ratio of 2.95. The firm has a 50-day simple moving average of $95.21 and a two-hundred day simple moving average of $107.80. Woodward has a one year low of $87.43 and a one year high of $129.12.

Woodward (NASDAQ:WWDGet Rating) last issued its quarterly earnings data on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.27). Woodward had a return on equity of 8.38% and a net margin of 7.24%. The firm had revenue of $614.33 million for the quarter, compared to analyst estimates of $625.04 million. During the same period in the previous year, the business earned $0.74 EPS. Woodward’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, equities analysts forecast that Woodward will post 2.68 EPS for the current fiscal year.

Woodward Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.80%. Woodward’s dividend payout ratio is 29.12%.

Insider Activity at Woodward

In other Woodward news, insider Thomas A. Gendron sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $102.35, for a total value of $1,023,500.00. Following the completion of the sale, the insider now owns 32,000 shares of the company’s stock, valued at $3,275,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Thomas A. Gendron sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $102.35, for a total transaction of $1,023,500.00. Following the completion of the transaction, the insider now owns 32,000 shares of the company’s stock, valued at approximately $3,275,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Donovan purchased 1,100 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average price of $92.46 per share, for a total transaction of $101,706.00. Following the completion of the purchase, the director now directly owns 1,100 shares of the company’s stock, valued at $101,706. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 2,500 shares of company stock valued at $237,861. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Woodward by 15.4% in the 1st quarter. BlackRock Inc. now owns 5,749,193 shares of the technology company’s stock valued at $718,131,000 after acquiring an additional 768,984 shares during the last quarter. State Street Corp raised its stake in shares of Woodward by 41.1% during the 1st quarter. State Street Corp now owns 2,134,296 shares of the technology company’s stock worth $266,595,000 after purchasing an additional 621,559 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of Woodward by 9.6% during the 2nd quarter. Cooke & Bieler LP now owns 1,759,615 shares of the technology company’s stock worth $162,746,000 after purchasing an additional 153,721 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Woodward by 1.3% in the 4th quarter. JPMorgan Chase & Co. now owns 1,445,893 shares of the technology company’s stock valued at $158,267,000 after acquiring an additional 18,752 shares during the period. Finally, Ceredex Value Advisors LLC raised its stake in Woodward by 9.1% in the 4th quarter. Ceredex Value Advisors LLC now owns 1,025,143 shares of the technology company’s stock valued at $112,212,000 after acquiring an additional 85,343 shares during the period. Institutional investors and hedge funds own 80.05% of the company’s stock.

Woodward Company Profile

(Get Rating)

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates through 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.

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