United Services Automobile Association Invests $703,000 in Woodward, Inc. $WWD

Key Points

• United Services Automobile Association acquired a new stake in Woodward, Inc. by purchasing 3,836 shares valued at approximately $703,000 in the first quarter of 2023.
• Woodward, Inc. reported $1.76 earnings per share for the quarter, exceeding analysts' estimates and indicating an 8.0% increase in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.28 per share, translating to an annualized yield of 0.5% with a payout ratio of 17.72%.

United Services Automobile Association bought a new position in shares of Woodward, Inc. (NASDAQ:WWD - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,836 shares of the technology company's stock, valued at approximately $703,000.

Other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its position in Woodward by 191.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 166 shares of the technology company's stock worth $30,000 after purchasing an additional 109 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position 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 purchasing an additional 162 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Woodward by 189.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171 shares of the technology company's stock valued at $31,000 after acquiring an additional 112 shares during the period. TCTC Holdings LLC boosted its position in shares of 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. Finally, Virtus Advisers LLC bought a new stake in shares of Woodward in the first quarter valued at approximately $38,000. Institutional investors own 81.18% of the company's stock.

Woodward Price Performance

Woodward stock traded up $3.28 during mid-day trading on Monday, hitting $241.45. 105,363 shares of the company were exchanged, compared to its average volume of 519,231. The company has a quick ratio of 1.39, a current ratio of 2.04 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $249.97 and a 200 day moving average of $217.90. Woodward, Inc. has a 1-year low of $146.82 and a 1-year high of $267.45. The company has a market capitalization of $14.48 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 2.58 and a beta of 1.27.

Woodward (NASDAQ:WWD - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The technology company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.14. Woodward had a return on equity of 16.57% and a net margin of 11.32%.The firm had revenue of $915.45 million during the quarter, compared to analyst estimates of $884.98 million. During the same period in the prior year, the company posted $1.63 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. Woodward has set its FY 2025 guidance at 6.500-6.750 EPS. As a group, sell-side analysts expect that Woodward, Inc. will post 6.15 earnings per share for the current year.

Woodward Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 21st. Woodward's dividend payout ratio is currently 17.72%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WWD shares. Deutsche Bank Aktiengesellschaft raised Woodward from a "hold" rating to a "buy" rating and set a $291.00 price objective for the company in a research report on Tuesday, June 3rd. Barclays upped their target price on Woodward from $200.00 to $260.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Truist Financial upped their target price on Woodward from $267.00 to $294.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Jefferies Financial Group restated a "buy" rating and issued a $245.00 target price (up from $225.00) on shares of Woodward in a research note on Friday, May 23rd. Finally, UBS Group upped their target price on Woodward from $283.00 to $299.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Woodward currently has a consensus rating of "Moderate Buy" and a consensus price target of $253.11.

Insider Buying and Selling at Woodward

In other news, Director John D. Cohn sold 1,750 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $244.32, for a total transaction of $427,560.00. Following the sale, the director owned 20,963 shares in the company, valued at approximately $5,121,680.16. This represents a 7.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Randall Hobbs sold 846 shares of the stock in a transaction 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 sale, the executive vice president owned 48,981 shares in the company, valued at $12,245,250. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,096 shares of company stock valued at $759,060 over the last quarter. Corporate insiders own 0.82% of the company's stock.

About Woodward

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.