Corebridge Financial Inc. Sells 1,938 Shares of Woodward, Inc. $WWD

Key Points

• Corebridge Financial Inc. has reduced its stake in Woodward, Inc. by 2.9%, owning 65,562 shares valued at approximately $11.96 million after selling 1,938 shares in the first quarter.
• Woodward's quarterly earnings report showed $1.76 EPS, surpassing analysts' expectations, alongside a year-over-year revenue increase of 8.0% to $915.45 million.
• The company announced a quarterly dividend of $0.28, set to be paid on September 4, contributing to an annualized yield of 0.4% and a payout ratio of 17.72%.

Corebridge Financial Inc. lowered its holdings in Woodward, Inc. (NASDAQ:WWD - Free Report) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,562 shares of the technology company's stock after selling 1,938 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Woodward worth $11,964,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Focus Partners Wealth bought a new stake in shares of Woodward in the fourth quarter valued at approximately $294,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Woodward by 1.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,649 shares of the technology company's stock valued at $1,396,000 after acquiring an additional 82 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Woodward by 13.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,580 shares of the technology company's stock valued at $653,000 after acquiring an additional 420 shares during the period. XTX Topco Ltd bought a new stake in shares of Woodward during the 1st quarter valued at $294,000. Finally, Tribune Investment Group LP bought a new stake in Woodward during the first quarter worth about $8,577,000. Institutional investors own 81.18% of the company's stock.

Insider Activity

In other Woodward news, EVP Terence J. Voskuil sold 10,000 shares of Woodward stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $231.03, for a total value of $2,310,300.00. Following the completion of the sale, the executive vice president directly owned 4,945 shares of the company's stock, valued at approximately $1,142,443.35. The trade was a 66.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles P. Blankenship sold 2,450 shares of Woodward stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $230.85, for a total transaction of $565,582.50. Following the completion of the sale, the chief executive officer directly owned 64,739 shares of the company's stock, valued at approximately $14,944,998.15. This trade represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,296 shares of company stock worth $4,464,433 in the last quarter. 0.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Woodward from $283.00 to $299.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Alembic Global Advisors raised shares of Woodward from a "neutral" rating to an "overweight" rating and set a $281.00 price target for the company in a report on Wednesday, August 20th. Jefferies Financial Group reaffirmed 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. The Goldman Sachs Group upped their target price on Woodward from $229.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, Zacks Research cut Woodward from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Woodward has a consensus rating of "Moderate Buy" and an average price target of $253.11.

Woodward Trading Down 1.0%

Shares of WWD stock traded down $2.48 during mid-day trading on Monday, hitting $246.82. The company's stock had a trading volume of 428,916 shares, compared to its average volume of 464,680. The company's fifty day simple moving average is $250.96 and its 200-day simple moving average is $214.43. Woodward, Inc. has a 52 week low of $146.82 and a 52 week high of $267.45. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 2.04. The company has a market cap of $14.80 billion, a PE ratio of 39.05, a P/E/G ratio of 2.68 and a beta of 1.27.

Woodward (NASDAQ:WWD - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The technology company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.14. The firm had revenue of $915.45 million during the quarter, compared to analyst estimates of $884.98 million. Woodward had a return on equity of 16.57% and a net margin of 11.32%.The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company posted $1.63 EPS. Woodward has set its FY 2025 guidance at 6.500-6.750 EPS. As a group, equities research analysts expect that Woodward, Inc. will post 6.15 earnings per share for the current fiscal year.

Woodward Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a $0.28 dividend. The ex-dividend date is Thursday, August 21st. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. Woodward's payout ratio is currently 17.72%.

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.