Woodward (NASDAQ:WWD) Price Target Cut to $100.00 by Analysts at Wells Fargo & Company

Woodward (NASDAQ:WWDGet Rating) had its price target decreased by Wells Fargo & Company from $117.00 to $100.00 in a research report released on Tuesday morning, The Fly reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

Several other equities analysts also recently commented on WWD. Cowen cut their target price on Woodward from $130.00 to $125.00 in a research report on Tuesday, May 3rd. Cowen cut their target price on Woodward from $130.00 to $125.00 in a research report on Tuesday, May 3rd. Finally, Truist Financial cut Woodward from a buy rating to a hold rating and dropped their price target for the company from $121.00 to $88.00 in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $117.25.

Woodward Price Performance

Shares of WWD stock opened at $93.29 on Tuesday. The company has a current ratio of 3.61, a quick ratio of 2.29 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $5.89 billion, a P/E ratio of 34.42, a P/E/G ratio of 2.36 and a beta of 1.48. Woodward has a 12 month low of $87.59 and a 12 month high of $129.12. The stock has a 50 day moving average of $95.52 and a two-hundred day moving average of $108.20.

Woodward (NASDAQ:WWDGet Rating) last posted its earnings results on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.27). The company had revenue of $614.33 million for the quarter, compared to the consensus estimate of $625.04 million. Woodward had a return on equity of 8.53% and a net margin of 7.85%. Woodward’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 EPS. As a group, equities analysts expect that Woodward will post 3.28 EPS for the current year.

Woodward Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 15th will be paid a $0.19 dividend. The ex-dividend date is Friday, August 12th. This represents a $0.76 annualized dividend and a dividend yield of 0.81%. Woodward’s dividend payout ratio (DPR) is currently 28.04%.

Insider Activity

In other news, insider Thomas A. Gendron sold 10,000 shares of Woodward stock in a transaction on 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 directly 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 can be accessed through this link. In other news, insider Thomas A. Gendron sold 10,000 shares of Woodward stock in a transaction on 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 directly 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 can be accessed through this link. Also, CEO Charles P. Blankenship bought 500 shares of the stock in a transaction dated Monday, May 9th. The stock was purchased at an average cost of $98.10 per share, with a total value of $49,050.00. Following the completion of the purchase, the chief executive officer now directly owns 1,100 shares in the company, valued at approximately $107,910. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 2,796 shares of company stock valued at $287,428. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Woodward

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC increased its stake in shares of Woodward by 2.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,006 shares of the technology company’s stock valued at $3,066,000 after acquiring an additional 542 shares during the last quarter. National Asset Management Inc. raised its position in shares of Woodward by 8.6% in the 4th quarter. National Asset Management Inc. now owns 2,437 shares of the technology company’s stock valued at $267,000 after acquiring an additional 192 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Woodward in the 4th quarter valued at approximately $1,892,000. State of New Jersey Common Pension Fund D raised its position in shares of Woodward by 4.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 33,858 shares of the technology company’s stock valued at $3,706,000 after acquiring an additional 1,366 shares during the period. Finally, Yousif Capital Management LLC acquired a new stake in shares of Woodward in the 4th quarter valued at approximately $3,638,000. Institutional investors and hedge funds own 80.05% of the company’s stock.

About Woodward

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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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