Envestnet Asset Management Inc. Sells 68,997 Shares of Woodward, Inc. (NASDAQ:WWD)

Envestnet Asset Management Inc. reduced its holdings in Woodward, Inc. (NASDAQ:WWD - Free Report) by 37.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 116,095 shares of the technology company's stock after selling 68,997 shares during the quarter. Envestnet Asset Management Inc. owned 0.20% of Woodward worth $21,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WWD. Focus Partners Wealth bought a new position in Woodward in the fourth quarter valued at $294,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Woodward by 1.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,649 shares of the technology company's stock valued at $1,396,000 after purchasing an additional 82 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Woodward by 13.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,580 shares of the technology company's stock valued at $653,000 after buying an additional 420 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Woodward in the 4th quarter worth approximately $2,137,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Woodward during the fourth quarter worth approximately $2,687,000. Hedge funds and other institutional investors own 81.18% of the company's stock.

Analysts Set New Price Targets

WWD has been the topic of several recent research reports. Truist Financial increased their target price on shares of Woodward from $267.00 to $294.00 and gave the company a "buy" rating in a report on Friday, July 11th. UBS Group raised their price objective on Woodward from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Jefferies Financial Group reiterated a "buy" rating and issued a $245.00 price objective (up previously from $225.00) on shares of Woodward in a report on Friday, May 23rd. Deutsche Bank Aktiengesellschaft upgraded Woodward from a "hold" rating to a "buy" rating and set a $291.00 target price for the company in a report on Tuesday, June 3rd. Finally, Wells Fargo & Company lifted their price target on Woodward from $175.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Woodward has an average rating of "Moderate Buy" and a consensus price target of $232.25.

Insider Activity

In other news, EVP Terence J. Voskuil sold 10,000 shares of Woodward stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 4,945 shares in the company, valued at approximately $1,142,443.35. This trade represents a 66.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Randall Hobbs sold 846 shares of the business'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 in the company, valued at approximately $12,245,250. This represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,096 shares of company stock worth $9,247,289. Corporate insiders own 0.82% of the company's stock.

Woodward Trading Up 0.4%

Shares of WWD stock traded up $1.01 during trading hours on Friday, reaching $258.43. The company's stock had a trading volume of 634,059 shares, compared to its average volume of 492,039. The company has a current ratio of 1.95, a quick ratio of 1.30 and a debt-to-equity ratio of 0.21. Woodward, Inc. has a one year low of $145.98 and a one year high of $259.51. The stock has a market capitalization of $15.34 billion, a P/E ratio of 41.75, a P/E/G ratio of 2.95 and a beta of 1.26. The firm's fifty day simple moving average is $231.71 and its 200 day simple moving average is $199.17.

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

Woodward Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Thursday, May 22nd. Woodward's dividend payout ratio (DPR) is presently 18.09%.

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.