Red Spruce Capital LLC Has $2.12 Million Stake in Woodward, Inc. (NASDAQ:WWD)

Red Spruce Capital LLC trimmed its holdings in shares of Woodward, Inc. (NASDAQ:WWD) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,822 shares of the technology company’s stock after selling 160 shares during the quarter. Red Spruce Capital LLC’s holdings in Woodward were worth $2,119,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. KB Financial Partners LLC acquired a new stake in shares of Woodward in the first quarter worth $30,000. CWM LLC increased its holdings in shares of Woodward by 265.4% during the 1st quarter. CWM LLC now owns 380 shares of the technology company’s stock worth $37,000 after purchasing an additional 276 shares during the period. TFC Financial Management Inc. bought a new position in shares of Woodward during the 4th quarter worth about $43,000. Johnson Financial Group Inc. bought a new position in shares of Woodward during the 4th quarter worth about $58,000. Finally, State of Wyoming increased its holdings in shares of Woodward by 66.9% during the 4th quarter. State of Wyoming now owns 821 shares of the technology company’s stock worth $79,000 after purchasing an additional 329 shares during the period. 79.63% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Christopher Fawzy sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $130.00, for a total value of $650,000.00. Following the sale, the vice president now directly owns 4,989 shares in the company, valued at $648,570. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Christopher Fawzy sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the sale, the vice president now owns 4,989 shares in the company, valued at approximately $648,570. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rajeev Bhalla purchased 399 shares of Woodward stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average price of $125.07 per share, with a total value of $49,902.93. Following the acquisition, the director now directly owns 1,779 shares of the company’s stock, valued at approximately $222,499.53. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 11,079 shares of company stock worth $1,426,185. Corporate insiders own 1.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on WWD shares. Truist Financial raised their target price on Woodward from $110.00 to $124.00 and gave the stock a “hold” rating in a research report on Tuesday, August 1st. The Goldman Sachs Group raised their target price on Woodward from $92.00 to $103.00 and gave the stock a “sell” rating in a research report on Friday, August 4th. TD Cowen upgraded Woodward from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $135.00 to $160.00 in a research note on Tuesday, September 5th. StockNews.com started coverage on Woodward in a research note on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company upped their price objective on Woodward from $110.00 to $128.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Woodward presently has an average rating of “Hold” and an average target price of $120.56.

Woodward Trading Up 0.6 %

NASDAQ WWD traded up $0.79 on Thursday, reaching $130.49. The company had a trading volume of 38,941 shares, compared to its average volume of 339,081. The stock’s 50 day moving average is $124.85 and its 200-day moving average is $110.99. The stock has a market cap of $7.88 billion, a price-to-earnings ratio of 39.07, a PEG ratio of 2.33 and a beta of 1.45. The company has a quick ratio of 1.63, a current ratio of 2.54 and a debt-to-equity ratio of 0.31. Woodward, Inc. has a 52 week low of $79.26 and a 52 week high of $133.15.

Woodward (NASDAQ:WWD) last announced its quarterly earnings results on Monday, July 31st. The technology company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.40. The company had revenue of $800.66 million for the quarter, compared to analysts’ expectations of $703.49 million. Woodward had a net margin of 7.34% and a return on equity of 11.46%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. Equities analysts predict that Woodward, Inc. will post 4.15 earnings per share for the current year.

Woodward Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 28th. Investors of record on Monday, August 14th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Friday, August 11th. Woodward’s payout ratio is presently 26.51%.

Woodward 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.