Wakefield Asset Management LLLP Cuts Holdings in Woodward, Inc. (NASDAQ:WWD)

Wakefield Asset Management LLLP trimmed its holdings in shares of Woodward, Inc. (NASDAQ:WWD - Free Report) by 60.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,078 shares of the technology company's stock after selling 12,196 shares during the period. Wakefield Asset Management LLLP's holdings in Woodward were worth $1,474,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Summit Financial LLC boosted its stake in shares of Woodward by 6.5% in the fourth quarter. Summit Financial LLC now owns 1,324 shares of the technology company's stock valued at $220,000 after purchasing an additional 81 shares during the period. Xponance Inc. boosted its stake in shares of Woodward by 1.2% during the 1st quarter. Xponance Inc. now owns 6,830 shares of the technology company's stock worth $1,246,000 after acquiring an additional 81 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Woodward by 1.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,649 shares of the technology company's stock worth $1,396,000 after acquiring an additional 82 shares during the last quarter. Merit Financial Group LLC raised its stake in Woodward by 6.2% in the 1st quarter. Merit Financial Group LLC now owns 1,501 shares of the technology company's stock valued at $274,000 after purchasing an additional 88 shares during the last quarter. Finally, Blair William & Co. IL increased its stake in Woodward by 3.4% in the fourth quarter. Blair William & Co. IL now owns 3,053 shares of the technology company's stock valued at $508,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 81.18% of the company's stock.

Insider Transactions at Woodward

In related news, EVP Randall Hobbs sold 846 shares of the stock in a transaction that occurred on 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 directly owned 48,981 shares of the company's stock, valued at approximately $12,245,250. This trade represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John D. Cohn sold 2,800 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $191.52, for a total value of $536,256.00. Following the transaction, the director owned 20,965 shares of the company's stock, valued at approximately $4,015,216.80. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,096 shares of company stock worth $9,247,289 in the last quarter. 0.82% of the stock is owned by corporate insiders.

Woodward Stock Down 1.1%

WWD opened at $251.29 on Wednesday. The business's 50-day simple moving average is $234.97 and its 200-day simple moving average is $201.15. Woodward, Inc. has a one year low of $145.98 and a one year high of $259.40. The stock has a market capitalization of $14.92 billion, a P/E ratio of 40.60, a price-to-earnings-growth ratio of 2.96 and a beta of 1.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.30 and a current ratio of 1.95.

Woodward (NASDAQ:WWD - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The technology company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.25. The company had revenue of $883.63 million for the quarter, compared to analysts' expectations of $838.61 million. Woodward had a net margin of 11.36% and a return on equity of 16.86%. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $1.62 EPS. Analysts anticipate that Woodward, Inc. will post 6.15 EPS for the current year.

Woodward Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.45%. The ex-dividend date was Thursday, May 22nd. Woodward's dividend payout ratio is 18.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WWD shares. 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. UBS Group lifted their price target on Woodward from $200.00 to $220.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. The Goldman Sachs Group raised their price objective on shares of Woodward from $229.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Wall Street Zen raised shares of Woodward from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.25.

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.

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