PNC Financial Services Group Inc. Purchases 4,096 Shares of Woodward, Inc. (NASDAQ:WWD)

Key Points

• PNC Financial Services Group Inc. increased its stake in Woodward, Inc. by 7.2% during Q1, bringing its total holdings to 60,825 shares valued at approximately $11.1 million.
• Woodward reported earnings of $1.76 EPS for the last quarter, exceeding analyst expectations of $1.62 EPS, with revenues of $915.45 million.
• The company announced a quarterly dividend of $0.28 per share, indicating a dividend yield of 0.4%, set to be paid on September 4th.

PNC Financial Services Group Inc. lifted its position in shares of Woodward, Inc. (NASDAQ:WWD - Free Report) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,825 shares of the technology company's stock after purchasing an additional 4,096 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.10% of Woodward worth $11,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of WWD. MassMutual Private Wealth & Trust FSB grew its stake in shares of Woodward by 191.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 166 shares of the technology company's stock valued at $30,000 after purchasing an additional 109 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in Woodward by 2,314.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the technology company's stock valued at $31,000 after acquiring an additional 162 shares during the period. TCTC Holdings LLC grew its position in Woodward by 116.7% in the first quarter. TCTC Holdings LLC now owns 182 shares of the technology company's stock valued at $33,000 after acquiring an additional 98 shares during the period. Berbice Capital Management LLC raised its stake in Woodward by 50.0% during the first quarter. Berbice Capital Management LLC now owns 300 shares of the technology company's stock worth $55,000 after acquiring an additional 100 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Woodward during the fourth quarter valued at $61,000. 81.18% of the stock is currently owned by institutional investors.

Woodward Stock Down 2.6%

Shares of WWD opened at $253.14 on Wednesday. The business's fifty day moving average price is $244.60 and its two-hundred day moving average price is $206.45. The firm has a market capitalization of $15.18 billion, a price-to-earnings ratio of 40.05, a PEG ratio of 2.80 and a beta of 1.30. 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.

Woodward (NASDAQ:WWD - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The technology company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.14. The business had revenue of $915.45 million for 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 firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. On average, analysts predict that Woodward, Inc. will post 6.15 earnings per share for the current year.

Woodward Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.12 annualized dividend and a dividend yield of 0.4%. Woodward's payout ratio is currently 17.72%.

Insider Transactions at Woodward

In related news, EVP Randall Hobbs sold 846 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $250.00, for a total transaction of $211,500.00. Following the completion of the sale, the executive vice president directly owned 48,981 shares of the company's stock, valued at $12,245,250. The trade was a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles P. Blankenship sold 2,450 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 64,739 shares in the company, valued at approximately $14,944,998.15. The trade was a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,296 shares of company stock worth $8,711,033 in the last quarter. 0.82% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WWD has been the topic of several analyst reports. UBS Group upped their target price on shares of Woodward from $283.00 to $299.00 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Barclays upped their price objective on shares of Woodward from $200.00 to $260.00 and gave the stock an "equal weight" rating in a research note on Monday. Jefferies Financial Group reissued a "buy" rating and issued a $245.00 target price (up from $225.00) on shares of Woodward in a report on Friday, May 23rd. Truist Financial increased their price target on Woodward from $267.00 to $294.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Finally, Wall Street Zen upgraded Woodward from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Woodward has a consensus rating of "Moderate Buy" and an average price target of $249.63.

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.

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