Red Spruce Capital LLC Lowers Stake in Woodward, Inc. (NASDAQ:WWD)

Red Spruce Capital LLC decreased its position in Woodward, Inc. (NASDAQ:WWD - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,179 shares of the technology company's stock after selling 1,709 shares during the quarter. Woodward accounts for approximately 1.5% of Red Spruce Capital LLC's holdings, making the stock its 25th biggest holding. Red Spruce Capital LLC's holdings in Woodward were worth $3,135,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Atria Wealth Solutions Inc. bought a new position in Woodward in the 4th quarter valued at $465,000. Focus Partners Wealth acquired a new position in shares of Woodward in the 4th quarter valued at $294,000. Sanctuary Advisors LLC lifted its stake in shares of Woodward by 3.9% in the 4th quarter. Sanctuary Advisors LLC now owns 10,286 shares of the technology company's stock valued at $1,712,000 after purchasing an additional 389 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Woodward in the 4th quarter valued at $2,137,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Woodward by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 503,977 shares of the technology company's stock valued at $83,872,000 after purchasing an additional 3,099 shares during the period. Institutional investors own 81.18% of the company's stock.

Woodward Trading Down 0.5%

WWD traded down $1.13 during trading on Friday, reaching $216.83. 590,419 shares of the stock traded hands, compared to its average volume of 464,040. The stock has a market capitalization of $12.87 billion, a PE ratio of 36.32, a P/E/G ratio of 2.37 and a beta of 1.24. The stock's 50-day moving average is $188.13 and its 200 day moving average is $183.55. The company has a quick ratio of 1.19, a current ratio of 1.89 and a debt-to-equity ratio of 0.22. Woodward, Inc. has a 12 month low of $145.98 and a 12 month high of $220.05.

Woodward (NASDAQ:WWD - Get Free Report) last posted its earnings results on Monday, April 28th. The technology company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.25. Woodward had a net margin of 11.18% and a return on equity of 16.76%. The company had revenue of $883.63 million for the quarter, compared to analyst estimates of $838.61 million. During the same quarter in the prior year, the business posted $1.62 EPS. The firm's revenue was up 5.9% compared to the same quarter last year. Equities analysts anticipate that Woodward, Inc. will post 6.15 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 5th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Thursday, May 22nd. Woodward's dividend payout ratio is currently 18.09%.

Insider Activity

In related news, CEO Charles P. Blankenship sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $215.98, for a total value of $1,079,900.00. Following the completion of the transaction, the chief executive officer now directly owns 73,117 shares of the company's stock, valued at approximately $15,791,809.66. This trade represents a 6.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas G. Cromwell sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $184.50, for a total transaction of $1,845,000.00. Following the completion of the transaction, the chief operating officer now directly owns 15,477 shares of the company's stock, valued at approximately $2,855,506.50. This trade represents a 39.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,700 shares of company stock valued at $9,998,300 in the last three months. Company insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

WWD has been the topic of a number of analyst reports. UBS Group increased their price target on Woodward from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft set a $187.00 price objective on Woodward and gave the stock a "hold" rating in a research note on Monday, April 14th. Wells Fargo & Company raised their price objective on Woodward from $175.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Jefferies Financial Group reaffirmed a "buy" rating and set a $245.00 price objective (up previously from $225.00) on shares of Woodward in a research note on Friday, May 23rd. Finally, Truist Financial set a $232.00 price objective on Woodward in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Woodward currently has a consensus rating of "Moderate Buy" and an average target price of $204.75.

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.