Fifth Third Bancorp Increases Position in Woodward, Inc. $WWD

Key Points

• Fifth Third Bancorp increased its stake in Woodward by 87.5% in the first quarter, bringing its holdings to 31,046 shares valued at about $11.1 million.
• Woodward reported strong quarterly results, with EPS of $2.27 beating estimates and revenue of $1.09 billion topping forecasts; revenue also rose 23.4% from a year earlier.
• Insider activity was mixed but leaned toward selling, including a large sale by director Daniel G. Korte, while analysts overall maintain a Moderate Buy consensus with an average price target of $395.50.

Fifth Third Bancorp raised its holdings in shares of Woodward, Inc. (NASDAQ:WWD - Free Report) by 87.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,046 shares of the technology company's stock after acquiring an additional 14,484 shares during the quarter. Fifth Third Bancorp owned approximately 0.05% of Woodward worth $11,112,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of WWD. IFP Advisors Inc grew its position in shares of Woodward by 4.2% during the third quarter. IFP Advisors Inc now owns 1,036 shares of the technology company's stock valued at $267,000 after purchasing an additional 42 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Woodward by 1.5% in the third quarter. Quadrant Capital Group LLC now owns 3,327 shares of the technology company's stock valued at $841,000 after acquiring an additional 48 shares during the period. Quest Investment Management LLC lifted its stake in Woodward by 1.2% in the third quarter. Quest Investment Management LLC now owns 4,313 shares of the technology company's stock worth $1,090,000 after purchasing an additional 50 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in Woodward by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 13,417 shares of the technology company's stock valued at $4,056,000 after acquiring an additional 51 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Woodward by 11.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 506 shares of the technology company's stock worth $124,000 after buying an additional 54 shares during the period. Hedge funds and other institutional investors own 81.18% of the company's stock.

Insider Buying and Selling

In other Woodward news, Director Daniel G. Korte sold 14,700 shares of the business's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $356.05, for a total value of $5,233,935.00. Following the completion of the transaction, the director owned 4,434 shares in the company, valued at $1,578,725.70. The trade was a 76.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Karrie M. Bem sold 185 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $355.00, for a total transaction of $65,675.00. Following the completion of the sale, the executive vice president directly owned 3,648 shares in the company, valued at approximately $1,295,040. This trade represents a 4.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 15,629 shares of company stock worth $5,570,005. 0.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WWD shares. Royal Bank Of Canada initiated coverage on Woodward in a research report on Thursday, April 16th. They set an "outperform" rating and a $450.00 target price for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Woodward in a report on Monday, April 20th. Wall Street Zen downgraded shares of Woodward from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 9th. TD Cowen boosted their price target on Woodward from $390.00 to $420.00 and gave the company a "hold" rating in a research note on Monday. Finally, Wells Fargo & Company initiated coverage on shares of Woodward in a research report on Wednesday, April 1st. They set an "overweight" rating and a $440.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Woodward presently has a consensus rating of "Moderate Buy" and an average price target of $395.50.

Woodward Price Performance

NASDAQ:WWD opened at $397.89 on Wednesday. The stock has a 50 day moving average of $386.57 and a two-hundred day moving average of $370.09. The company has a current ratio of 1.73, a quick ratio of 1.19 and a debt-to-equity ratio of 0.18. The firm has a market cap of $23.71 billion, a P/E ratio of 47.65, a price-to-earnings-growth ratio of 2.37 and a beta of 0.86. Woodward, Inc. has a 12 month low of $233.31 and a 12 month high of $450.92.

Woodward (NASDAQ:WWD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $2.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.10 by $0.17. Woodward had a return on equity of 20.12% and a net margin of 12.85%.The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $1.69 earnings per share. The business's revenue was up 23.4% compared to the same quarter last year. Woodward has set its FY 2026 guidance at 9.150-9.450 EPS. On average, analysts expect that Woodward, Inc. will post 9.34 earnings per share for the current fiscal year.

Woodward Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, August 20th. Woodward's dividend payout ratio is currently 15.33%.

About Woodward

Woodward, Inc NASDAQ: WWD is a global leader in the design, manufacture and service of control systems and components for the aerospace and industrial markets. Founded in 1870 and headquartered in Fort Collins, Colorado, the company specializes in motion control, fuel systems, actuation, and digital control solutions. Its offerings enable precision management of flow, pressure and motion in critical applications ranging from aircraft engines and power turbines to hydraulic systems.

Woodward's product portfolio is organized into two primary segments: Aerospace and Industrial.

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