Choreo LLC Sells 2,267 Shares of Woodward, Inc. (NASDAQ:WWD)

Choreo LLC decreased its stake in Woodward, Inc. (NASDAQ:WWD - Free Report) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,990 shares of the technology company's stock after selling 2,267 shares during the quarter. Choreo LLC's holdings in Woodward were worth $3,648,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WWD. Farallon Capital Management LLC boosted its holdings in Woodward by 31.8% in the fourth quarter. Farallon Capital Management LLC now owns 1,521,300 shares of the technology company's stock worth $253,175,000 after purchasing an additional 367,300 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Woodward by 2.8% in the 4th quarter. Earnest Partners LLC now owns 1,418,123 shares of the technology company's stock valued at $236,004,000 after acquiring an additional 38,774 shares in the last quarter. Naya Capital Management UK Ltd. lifted its holdings in Woodward by 130.2% in the 4th quarter. Naya Capital Management UK Ltd. now owns 1,328,765 shares of the technology company's stock worth $221,133,000 after purchasing an additional 751,541 shares during the last quarter. Geode Capital Management LLC grew its holdings in Woodward by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 1,302,237 shares of the technology company's stock valued at $216,771,000 after purchasing an additional 23,735 shares during the last quarter. Finally, Duquesne Family Office LLC raised its position in shares of Woodward by 15.9% in the fourth quarter. Duquesne Family Office LLC now owns 1,225,750 shares of the technology company's stock valued at $203,989,000 after purchasing an additional 168,035 shares during the period. Institutional investors and hedge funds own 81.18% of the company's stock.

Woodward Price Performance

Shares of WWD stock traded up $2.02 during mid-day trading on Friday, reaching $257.26. The company's stock had a trading volume of 551,872 shares, compared to its average volume of 518,761. The firm's 50-day moving average is $237.88 and its two-hundred day moving average is $202.76. The company has a market cap of $15.27 billion, a P/E ratio of 41.56, a PEG ratio of 3.00 and a beta of 1.26. Woodward, Inc. has a 1-year low of $145.98 and a 1-year high of $259.40. 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 announced its quarterly earnings results on Monday, April 28th. The technology company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.25. Woodward had a net margin of 11.36% and a return on equity of 16.86%. The firm had revenue of $883.63 million during the quarter, compared to analysts' expectations of $838.61 million. During the same quarter last year, the company earned $1.62 earnings per share. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts predict that Woodward, Inc. will post 6.15 earnings per share for the current year.

Woodward Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.44%. Woodward's payout ratio is presently 18.09%.

Insider Transactions at Woodward

In related news, EVP Terence J. Voskuil sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $231.03, for a total transaction of $2,310,300.00. Following the transaction, the executive vice president owned 4,945 shares in the company, valued at $1,142,443.35. This represents a 66.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles P. Blankenship sold 2,450 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $230.85, for a total value of $565,582.50. Following the completion of the transaction, the chief executive officer owned 64,739 shares in the company, valued at $14,944,998.15. The trade was a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,096 shares of company stock valued at $9,247,289. Corporate insiders own 0.82% of the company's stock.

Analysts Set New Price Targets

WWD has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated 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. Wall Street Zen upgraded Woodward from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company upped their price target on Woodward from $175.00 to $193.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Truist Financial raised their price objective on shares of Woodward from $267.00 to $294.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Woodward from a "hold" rating to a "buy" rating and set a $291.00 target price for the company in a research note on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Woodward has a consensus rating of "Moderate Buy" and a consensus price target of $232.25.

Woodward 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.