Woodward, Inc. (NASDAQ:WWD) Shares Acquired by PNC Financial Services Group Inc.

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. grew its holdings in Woodward, Inc. (NASDAQ:WWD - Free Report) by 7.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 60,825 shares of the technology company's stock after acquiring an additional 4,096 shares during the quarter. PNC Financial Services Group Inc. owned about 0.10% of Woodward worth $11,100,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Coastal Bridge Advisors LLC acquired a new stake in Woodward during the 1st quarter worth approximately $219,000. Sound View Wealth Advisors Group LLC lifted its position in Woodward by 5.8% during the 1st quarter. Sound View Wealth Advisors Group LLC now owns 1,612 shares of the technology company's stock worth $294,000 after acquiring an additional 89 shares during the period. Natixis Advisors LLC lifted its position in Woodward by 15.8% during the 1st quarter. Natixis Advisors LLC now owns 114,680 shares of the technology company's stock worth $20,928,000 after acquiring an additional 15,623 shares during the period. Pacific Capital Partners Ltd acquired a new stake in Woodward during the 1st quarter worth approximately $5,931,000. Finally, XTX Topco Ltd acquired a new stake in shares of Woodward in the 1st quarter valued at approximately $294,000. Hedge funds and other institutional investors own 81.18% of the company's stock.

Insider Buying and Selling at Woodward

In other Woodward news, EVP Randall Hobbs sold 846 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was 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 owned 48,981 shares of the company's stock, valued at approximately $12,245,250. The trade was a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles P. Blankenship sold 2,450 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $230.85, for a total value of $565,582.50. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,296 shares of company stock valued at $8,711,033. Company insiders own 0.82% of the company's stock.

Woodward Trading Down 0.9%

Shares of NASDAQ:WWD traded down $2.18 during midday trading on Friday, reaching $248.45. The company's stock had a trading volume of 571,272 shares, compared to its average volume of 581,886. The firm has a market cap of $14.90 billion, a price-to-earnings ratio of 39.31, a price-to-earnings-growth ratio of 2.70 and a beta of 1.30. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.20. Woodward, Inc. has a 1 year low of $146.82 and a 1 year high of $267.45. The business has a 50 day moving average price of $246.59 and a 200 day moving average price of $207.57.

Woodward (NASDAQ:WWD - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The technology company reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.14. Woodward had a return on equity of 16.57% and a net margin of 11.32%. The business had revenue of $915.45 million during the quarter, compared to the consensus estimate of $884.98 million. During the same quarter in the previous year, the business earned $1.63 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts forecast that Woodward, Inc. will post 6.15 EPS for the current year.

Woodward Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 21st. Woodward's payout ratio is 17.72%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WWD. Barclays raised their price target on Woodward from $200.00 to $260.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Jefferies Financial Group reissued a "buy" rating and issued a $245.00 price target (up from $225.00) on shares of Woodward in a report on Friday, May 23rd. Deutsche Bank Aktiengesellschaft raised Woodward from a "hold" rating to a "buy" rating and set a $291.00 price target for the company in a report on Tuesday, June 3rd. The Goldman Sachs Group raised their price objective on Woodward from $229.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Finally, Wells Fargo & Company raised their price objective on Woodward from $175.00 to $193.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.