Principal Financial Group Inc. Sells 4,229 Shares of Woodward, Inc. $WWD

Key Points

• Principal Financial Group reduced its Woodward stake by 3.2% in the fourth quarter, selling 4,229 shares and leaving it with 128,938 shares valued at about $39 million.
• Woodward beat quarterly expectations, reporting EPS of $2.27 versus the $2.10 estimate and revenue of $1.09 billion versus $1.01 billion expected, with revenue up 23.4% year over year.
• The company also announced a quarterly dividend of $0.32 per share and saw continued insider selling, while analysts currently rate the stock a “Moderate Buy” with an average target price of $390.27.

Principal Financial Group Inc. trimmed its holdings in shares of Woodward, Inc. (NASDAQ:WWD - Free Report) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,938 shares of the technology company's stock after selling 4,229 shares during the quarter. Principal Financial Group Inc. owned 0.21% of Woodward worth $38,981,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in Woodward by 3.5% during the 3rd quarter. State Street Corp now owns 2,388,758 shares of the technology company's stock worth $603,663,000 after acquiring an additional 80,538 shares during the last quarter. Earnest Partners LLC grew its holdings in Woodward by 0.6% during the 3rd quarter. Earnest Partners LLC now owns 1,403,551 shares of the technology company's stock worth $354,691,000 after acquiring an additional 8,307 shares during the last quarter. Invesco Ltd. grew its holdings in Woodward by 122.0% during the 3rd quarter. Invesco Ltd. now owns 905,578 shares of the technology company's stock worth $228,849,000 after acquiring an additional 497,722 shares during the last quarter. Bank of America Corp DE grew its holdings in Woodward by 2.2% during the 3rd quarter. Bank of America Corp DE now owns 887,938 shares of the technology company's stock worth $224,391,000 after acquiring an additional 18,821 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Woodward by 8.4% during the 3rd quarter. Sei Investments Co. now owns 771,497 shares of the technology company's stock worth $194,965,000 after acquiring an additional 59,693 shares during the last quarter. 81.18% of the stock is owned by institutional investors.

Woodward Trading Down 0.2%

NASDAQ:WWD opened at $369.93 on Friday. The firm's fifty day moving average is $375.51 and its 200-day moving average is $333.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.19 and a current ratio of 1.73. Woodward, Inc. has a 52 week low of $193.74 and a 52 week high of $407.00. The firm has a market cap of $22.04 billion, a P/E ratio of 44.30, a P/E/G ratio of 2.19 and a beta of 0.92.

Woodward (NASDAQ:WWD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $2.27 EPS for the quarter, beating analysts' consensus estimates of $2.10 by $0.17. Woodward had a net margin of 12.85% and a return on equity of 20.12%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the firm posted $1.69 EPS. The company's quarterly revenue was up 23.4% on a year-over-year basis. Woodward has set its FY 2026 guidance at 9.150-9.450 EPS. Equities analysts expect that Woodward, Inc. will post 9.39 earnings per share for the current year.

Woodward Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Thursday, May 21st. Woodward's payout ratio is presently 15.33%.

Insiders Place Their Bets

In related news, EVP Shawn M. Mclevige sold 1,850 shares of the business's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $384.37, for a total transaction of $711,084.50. Following the transaction, the executive vice president owned 3,095 shares in the company, valued at $1,189,625.15. The trade was a 37.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles P. Blankenship sold 5,000 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $367.40, for a total transaction of $1,837,000.00. Following the transaction, the chief executive officer owned 65,854 shares in the company, valued at $24,194,759.60. The trade was a 7.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 19,475 shares of company stock worth $7,405,135 in the last quarter. 0.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WWD shares. TD Cowen boosted their target price on shares of Woodward from $350.00 to $390.00 and gave the stock a "hold" rating in a report on Tuesday, February 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Woodward in a report on Monday, April 20th. Jefferies Financial Group reissued a "buy" rating and set a $450.00 target price on shares of Woodward in a report on Sunday, February 8th. Zacks Research lowered shares of Woodward from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 21st. Finally, Royal Bank Of Canada began coverage on shares of Woodward in a research note on Thursday, April 16th. They issued an "outperform" rating and a $450.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Woodward presently has an average rating of "Moderate Buy" and an average target price of $390.27.

Woodward Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.