JPMorgan Chase & Co. lessened its stake in Woodward, Inc. (NASDAQ:WWD – Get Rating) by 7.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,074,761 shares of the technology company’s stock after selling 80,919 shares during the quarter. JPMorgan Chase & Co.’s holdings in Woodward were worth $99,403,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in Woodward by 11.3% in the second quarter. Principal Financial Group Inc. now owns 238,648 shares of the technology company’s stock valued at $22,072,000 after buying an additional 24,305 shares during the period. Inspire Investing LLC lifted its stake in Woodward by 22.4% in the second quarter. Inspire Investing LLC now owns 2,299 shares of the technology company’s stock valued at $213,000 after buying an additional 421 shares during the period. SeaCrest Wealth Management LLC acquired a new position in Woodward in the second quarter valued at approximately $28,000. TIAA FSB acquired a new position in Woodward in the second quarter valued at approximately $379,000. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Woodward by 37.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 4,271 shares of the technology company’s stock worth $395,000 after purchasing an additional 1,153 shares during the period. 84.00% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Wolfe Research lowered Woodward from an “outperform” rating to a “peer perform” rating in a research report on Tuesday. Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 target price on shares of Woodward in a research report on Wednesday, September 14th. StockNews.com raised Woodward from a “hold” rating to a “buy” rating in a research report on Monday. Truist Financial upped their target price on Woodward from $80.00 to $88.00 in a research report on Friday, November 18th. Finally, Barclays lowered their target price on Woodward from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Monday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Woodward currently has a consensus rating of “Hold” and an average price target of $105.86.
Woodward Trading Up 0.7 %
Woodward Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Monday, November 14th will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, November 10th. This represents a $0.76 annualized dividend and a yield of 0.77%. Woodward’s dividend payout ratio (DPR) is currently 27.84%.
Insider Buying and Selling
In related news, CEO Charles P. Blankenship purchased 500 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was acquired at an average price of $95.85 per share, for a total transaction of $47,925.00. Following the completion of the acquisition, the chief executive officer now owns 38,100 shares of the company’s stock, valued at approximately $3,651,885. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Woodward news, Director David P. Hess acquired 11,000 shares of Woodward stock in a transaction on Tuesday, August 30th. The stock was purchased at an average price of $93.93 per share, for a total transaction of $1,033,230.00. Following the purchase, the director now directly owns 15,400 shares of the company’s stock, valued at $1,446,522. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles P. Blankenship acquired 500 shares of Woodward stock in a transaction on Monday, August 29th. The stock was acquired at an average price of $95.85 per share, with a total value of $47,925.00. Following the purchase, the chief executive officer now directly owns 38,100 shares in the company, valued at $3,651,885. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 12,500 shares of company stock worth $1,176,640. 3.90% of the stock is owned by corporate insiders.
Woodward Company Profile
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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