Bank of New York Mellon Corp Has $88.52 Million Position in Woodward, Inc. (NASDAQ:WWD)

Bank of New York Mellon Corp lowered its stake in shares of Woodward, Inc. (NASDAQ:WWD - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 485,068 shares of the technology company's stock after selling 16,999 shares during the period. Bank of New York Mellon Corp owned about 0.82% of Woodward worth $88,520,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Farallon Capital Management LLC boosted its stake in shares of Woodward by 31.8% during the 4th quarter. Farallon Capital Management LLC now owns 1,521,300 shares of the technology company's stock valued at $253,175,000 after buying an additional 367,300 shares during the period. Earnest Partners LLC raised its holdings in shares of Woodward by 2.8% during the 4th quarter. Earnest Partners LLC now owns 1,418,123 shares of the technology company's stock valued at $236,004,000 after purchasing an additional 38,774 shares in the last quarter. Naya Capital Management UK Ltd. raised its holdings in shares of Woodward by 130.2% during the 4th quarter. Naya Capital Management UK Ltd. now owns 1,328,765 shares of the technology company's stock valued at $221,133,000 after purchasing an additional 751,541 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Woodward by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,302,237 shares of the technology company's stock valued at $216,771,000 after purchasing an additional 23,735 shares in the last quarter. Finally, Duquesne Family Office LLC raised its holdings in shares of Woodward by 15.9% during the 4th quarter. Duquesne Family Office LLC now owns 1,225,750 shares of the technology company's stock valued at $203,989,000 after purchasing an additional 168,035 shares in the last quarter. Institutional investors and hedge funds own 81.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on WWD shares. Deutsche Bank Aktiengesellschaft upgraded shares of Woodward from a "hold" rating to a "buy" rating and set a $291.00 price target on the stock in a report on Tuesday, June 3rd. Truist Financial set a $267.00 price target on shares of Woodward and gave the company a "buy" rating in a report on Thursday, June 12th. UBS Group raised their price target on shares of Woodward from $200.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Jefferies Financial Group restated a "buy" rating and set a $245.00 price target (up previously from $225.00) on shares of Woodward in a report on Friday, May 23rd. Finally, Wells Fargo & Company raised their price target on shares of Woodward from $175.00 to $193.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $228.88.

Insider Activity at Woodward

In other news, EVP Randall Hobbs sold 846 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $250.00, for a total transaction of $211,500.00. Following the transaction, the executive vice president owned 48,981 shares in the company, valued at approximately $12,245,250. The trade was a 1.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John D. Cohn sold 2,800 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $191.52, for a total transaction of $536,256.00. Following the transaction, the director owned 20,965 shares in the company, valued at approximately $4,015,216.80. The trade was a 11.78% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,096 shares of company stock worth $9,247,289. 0.82% of the stock is owned by company insiders.

Woodward Stock Performance

Shares of WWD opened at $246.30 on Friday. The company has a market capitalization of $14.62 billion, a PE ratio of 39.79, a price-to-earnings-growth ratio of 2.96 and a beta of 1.26. Woodward, Inc. has a one year low of $145.98 and a one year high of $255.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.95 and a quick ratio of 1.30. The company's fifty day moving average price is $226.04 and its 200 day moving average price is $196.36.

Woodward (NASDAQ:WWD - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The technology company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.25. Woodward had a net margin of 11.36% and a return on equity of 16.86%. The company had revenue of $883.63 million for the quarter, compared to the consensus estimate of $838.61 million. During the same quarter in the previous year, the firm posted $1.62 EPS. The business's revenue was up 5.9% compared to the same quarter last year. As a group, analysts expect that Woodward, Inc. will post 6.15 earnings per share for the current year.

Woodward Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $1.12 annualized dividend and a dividend yield of 0.45%. Woodward's payout ratio is 18.09%.

Woodward Company Profile

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates in 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.

Want to see what other hedge funds are holding WWD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Woodward, Inc. (NASDAQ:WWD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.