Bank of New York Mellon Corp raised its stake in shares of Woodward, Inc. (NASDAQ:WWD) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 833,035 shares of the technology company’s stock after purchasing an additional 50,208 shares during the period. Bank of New York Mellon Corp owned 1.36% of Woodward worth $64,652,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Rhumbline Advisers grew its stake in Woodward by 12.7% during the third quarter. Rhumbline Advisers now owns 140,277 shares of the technology company’s stock worth $10,887,000 after buying an additional 15,807 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its stake in Woodward by 56.0% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 52,909 shares of the technology company’s stock worth $4,106,000 after buying an additional 19,000 shares during the period. Principal Financial Group Inc. grew its stake in Woodward by 0.4% during the third quarter. Principal Financial Group Inc. now owns 233,814 shares of the technology company’s stock worth $18,147,000 after buying an additional 983 shares during the period. Wesbanco Bank Inc. purchased a new stake in Woodward during the third quarter worth approximately $203,000. Finally, Prudential Financial Inc. grew its stake in Woodward by 4.8% during the third quarter. Prudential Financial Inc. now owns 39,141 shares of the technology company’s stock worth $3,038,000 after buying an additional 1,780 shares during the period. 72.19% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Woodward from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 29th. Oppenheimer restated a “market perform” rating and issued a $82.00 target price on shares of Woodward in a research note on Thursday, October 26th. SunTrust Banks upped their price target on shares of Woodward to $77.00 and gave the company a “hold” rating in a report on Thursday, November 9th. Zacks Investment Research raised shares of Woodward from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, Cowen reaffirmed a “hold” rating and issued a $62.00 price target on shares of Woodward in a report on Thursday, November 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $77.71.
Shares of Woodward, Inc. (NASDAQ:WWD) traded down $0.61 during trading hours on Friday, hitting $75.16. 301,671 shares of the company’s stock were exchanged, compared to its average volume of 346,898. The firm has a market capitalization of $4,602.65, a PE ratio of 23.78, a price-to-earnings-growth ratio of 1.84 and a beta of 1.23. Woodward, Inc. has a 52 week low of $65.22 and a 52 week high of $82.94. The company has a quick ratio of 1.28, a current ratio of 2.39 and a debt-to-equity ratio of 0.42.
Woodward (NASDAQ:WWD) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.05. The company had revenue of $606.79 million for the quarter, compared to analysts’ expectations of $596.99 million. Woodward had a net margin of 9.55% and a return on equity of 15.55%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 earnings per share. sell-side analysts predict that Woodward, Inc. will post 3.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Monday, November 13th were issued a $0.125 dividend. The ex-dividend date was Friday, November 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.67%. Woodward’s dividend payout ratio (DPR) is presently 15.82%.
In related news, Director Mary L. Petrovich sold 5,700 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $79.69, for a total value of $454,233.00. Following the sale, the director now owns 27,904 shares of the company’s stock, valued at approximately $2,223,669.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.93% of the stock is owned by company insiders.
Woodward Company Profile
Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.
Receive News & Ratings for Woodward Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Woodward Inc. and related companies with MarketBeat.com's FREE daily email newsletter.