Principal Financial Group Inc. Grows Position in Woodward, Inc. (NASDAQ:WWD)

Principal Financial Group Inc. raised its position in Woodward, Inc. (NASDAQ:WWD – Get Rating) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 235,855 shares of the technology company’s stock after buying an additional 1,385 shares during the quarter. Principal Financial Group Inc.’s holdings in Woodward were worth $22,786,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WWD. Treasurer of the State of North Carolina raised its holdings in shares of Woodward by 1.3% during the 3rd quarter. Treasurer of the State of North Carolina now owns 25,218 shares of the technology company’s stock valued at $2,024,000 after buying an additional 320 shares during the period. Twinbeech Capital LP purchased a new stake in shares of Woodward during the 3rd quarter valued at about $3,369,000. Fiduciary Management Inc. WI raised its holdings in shares of Woodward by 0.4% during the 3rd quarter. Fiduciary Management Inc. WI now owns 316,427 shares of the technology company’s stock valued at $25,396,000 after buying an additional 1,371 shares during the period. Inspire Investing LLC raised its holdings in shares of Woodward by 12.2% during the 3rd quarter. Inspire Investing LLC now owns 2,579 shares of the technology company’s stock valued at $207,000 after buying an additional 280 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Woodward by 4.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 80,051 shares of the technology company’s stock valued at $6,425,000 after buying an additional 3,482 shares during the period. 81.74% of the stock is currently owned by hedge funds and other institutional investors.

Woodward Price Performance

Shares of WWD opened at $109.56 on Friday. The firm has a market cap of $6.54 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 2.30 and a beta of 1.46. The stock has a 50 day moving average of $98.40 and a 200-day moving average of $99.03. The company has a current ratio of 2.21, a quick ratio of 1.35 and a debt-to-equity ratio of 0.32. Woodward, Inc. has a 52 week low of $79.26 and a 52 week high of $116.24.

Woodward (NASDAQ:WWD – Get Rating) last issued its earnings results on Monday, May 1st. The technology company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.77 by $0.24. The company had revenue of $718.21 million during the quarter, compared to analyst estimates of $648.42 million. Woodward had a return on equity of 9.39% and a net margin of 6.12%. The business’s revenue was up 22.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. As a group, analysts forecast that Woodward, Inc. will post 3.58 EPS for the current year.

Woodward Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 5th. Investors of record on Monday, May 22nd will be given a dividend of $0.22 per share. The ex-dividend date is Friday, May 19th. This represents a $0.88 dividend on an annualized basis and a yield of 0.80%. Woodward’s dividend payout ratio is currently 33.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Barclays raised their target price on Woodward from $107.00 to $112.00 in a report on Tuesday, May 9th. Alembic Global Advisors upgraded Woodward from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $111.00 to $127.00 in a research note on Wednesday, February 1st. Wells Fargo & Company raised their price objective on Woodward from $106.00 to $109.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 31st. The Goldman Sachs Group lowered their price objective on Woodward from $76.00 to $74.00 in a research note on Tuesday, January 31st. Finally, Truist Financial raised their price objective on Woodward from $85.00 to $97.00 in a research note on Tuesday, May 2nd. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $104.25.

Insider Activity at Woodward

In related news, Director Rajeev Bhalla acquired 461 shares of Woodward stock in a transaction that occurred on Monday, May 8th. The stock was acquired at an average price of $108.23 per share, for a total transaction of $49,894.03. Following the transaction, the director now directly owns 1,380 shares of the company’s stock, valued at approximately $149,357.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Gregg C. Sengstack sold 2,045 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $109.56, for a total transaction of $224,050.20. Following the completion of the transaction, the director now owns 17,450 shares in the company, valued at approximately $1,911,822. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Rajeev Bhalla acquired 461 shares of Woodward stock in a transaction that occurred on Monday, May 8th. The shares were bought at an average price of $108.23 per share, with a total value of $49,894.03. Following the transaction, the director now directly owns 1,380 shares in the company, valued at $149,357.40. The disclosure for this purchase can be found here. Insiders own 1.19% of the company’s stock.

Woodward Profile

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Woodward, Inc engages in the provision of control system solutions and components for the aerospace and industrial markets. It operates through the following segments: Aerospace and Industrial. The Aerospace segment designs, manufactures and services systems and products for the management of fuel, air and combustion and motion control.