Red Spruce Capital LLC Reduces Stake in Woodward, Inc. $WWD

Key Points

• Red Spruce Capital LLC has reduced its holdings in Woodward, Inc. by 15.9%, now owning 14,444 shares valued at approximately $3.54 million.
• Woodward's latest earnings report showed an EPS of $1.76, exceeding analysts' expectations and marking an 8% revenue increase compared to the prior year.
• The company recently declared a quarterly dividend of $0.28 per share, contributing to an annual yield of 0.5% and a payout ratio of 17.72%.

Red Spruce Capital LLC cut its position in Woodward, Inc. (NASDAQ:WWD - Free Report) by 15.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,444 shares of the technology company's stock after selling 2,735 shares during the period. Woodward accounts for 1.5% of Red Spruce Capital LLC's holdings, making the stock its 21st largest position. Red Spruce Capital LLC's holdings in Woodward were worth $3,540,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Woodward by 191.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 166 shares of the technology company's stock worth $30,000 after acquiring an additional 109 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Woodward by 2,314.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the technology company's stock worth $31,000 after buying an additional 162 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Woodward by 189.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171 shares of the technology company's stock worth $31,000 after buying an additional 112 shares during the last quarter. TCTC Holdings LLC boosted its stake in Woodward by 116.7% during the first quarter. TCTC Holdings LLC now owns 182 shares of the technology company's stock worth $33,000 after buying an additional 98 shares during the last quarter. Finally, Virtus Advisers LLC acquired a new position in Woodward during the first quarter worth $38,000. 81.18% of the stock is owned by institutional investors and hedge funds.

Woodward Stock Performance

NASDAQ:WWD traded down $1.90 during mid-day trading on Friday, reaching $238.07. 140,997 shares of the stock were exchanged, compared to its average volume of 520,637. The company has a 50 day simple moving average of $249.09 and a 200-day simple moving average of $218.92. The stock has a market capitalization of $14.28 billion, a P/E ratio of 37.70, a P/E/G ratio of 2.57 and a beta of 1.27. 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.

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 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 company had revenue of $915.45 million during the quarter, compared to analysts' expectations of $884.98 million. During the same period last year, the firm earned $1.63 EPS. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. Woodward has set its FY 2025 guidance at 6.500-6.750 EPS. Analysts anticipate that Woodward, Inc. will post 6.15 earnings per share for the current fiscal year.

Woodward Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th 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, November 20th. Woodward's dividend payout ratio (DPR) is presently 17.72%.

Analysts Set New Price Targets

A number of research firms have weighed in on WWD. UBS Group boosted their price objective on Woodward from $283.00 to $299.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Alembic Global Advisors raised Woodward from a "neutral" rating to an "overweight" rating and set a $281.00 price objective on the stock in a research note on Wednesday, August 20th. Zacks Research lowered Woodward from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Wall Street Zen lowered Woodward from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $245.00 price target (up previously from $225.00) on shares of Woodward in a research note on Friday, May 23rd. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Woodward has an average rating of "Moderate Buy" and a consensus target price of $253.11.

Insider Buying and Selling

In other news, EVP Randall Hobbs sold 846 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $250.00, for a total value 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. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John D. Cohn sold 1,750 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $244.32, for a total value of $427,560.00. Following the completion of the sale, the director directly owned 20,963 shares of the company's stock, valued at $5,121,680.16. This represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.82% of the stock is currently owned by company insiders.

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.