State of New Jersey Common Pension Fund D Sells 2,414 Shares of Woodward, Inc. $WWD

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Woodward, Inc. by 10.7%, now holding 20,203 shares valued at approximately $3.69 million.
• Woodward reported earnings of $1.76 per share for the latest quarter, exceeding analyst expectations and showing an 8% revenue increase year-over-year.
• The company recently declared a quarterly dividend of $0.28, with an annualized yield of 0.5%, alongside a dividend payout ratio of 17.72%.

State of New Jersey Common Pension Fund D lessened its position in Woodward, Inc. (NASDAQ:WWD - Free Report) by 10.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,203 shares of the technology company's stock after selling 2,414 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Woodward were worth $3,687,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Woodward by 191.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 166 shares of the technology company's stock valued at $30,000 after acquiring an additional 109 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Woodward by 2,314.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the technology company's stock valued at $31,000 after acquiring an additional 162 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Woodward by 189.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171 shares of the technology company's stock valued at $31,000 after buying an additional 112 shares during the last quarter. TCTC Holdings LLC boosted its position in Woodward by 116.7% in the first quarter. TCTC Holdings LLC now owns 182 shares of the technology company's stock worth $33,000 after purchasing an additional 98 shares during the last quarter. Finally, Berbice Capital Management LLC raised its stake in shares of Woodward by 50.0% in the first quarter. Berbice Capital Management LLC now owns 300 shares of the technology company's stock valued at $55,000 after buying an additional 100 shares during the period. 81.18% of the stock is owned by institutional investors.

Woodward Stock Up 0.1%

Woodward stock traded up $0.20 during mid-day trading on Friday, reaching $248.04. 382,045 shares of the company were exchanged, compared to its average volume of 586,667. The business has a fifty day moving average of $249.73 and a 200 day moving average of $211.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 2.04. The firm has a market cap of $14.87 billion, a P/E ratio of 39.25, a PEG ratio of 2.69 and a beta of 1.30. Woodward, Inc. has a 12-month low of $146.82 and a 12-month high of $267.45.

Woodward (NASDAQ:WWD - Get Free Report) last posted its earnings results 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 net margin of 11.32% and a return on equity of 16.57%. The business had revenue of $915.45 million for the quarter, compared to analyst estimates of $884.98 million. During the same period in the prior year, the company posted $1.63 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. Woodward has set its FY 2025 guidance at 6.500-6.750 EPS. Research analysts anticipate that Woodward, Inc. will post 6.15 earnings per share for the current fiscal year.

Woodward Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be paid 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 0.5%. Woodward's payout ratio is presently 17.72%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WWD shares. Wall Street Zen upgraded Woodward from a "hold" rating to 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. The Goldman Sachs Group raised their target price on Woodward from $229.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. Zacks Research lowered Woodward from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, UBS Group lifted their target price on Woodward from $283.00 to $299.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Woodward presently has a consensus rating of "Moderate Buy" and a consensus price target of $253.11.

Insider Buying and Selling

In other Woodward news, EVP Randall Hobbs sold 846 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $250.00, for a total transaction of $211,500.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Charles P. Blankenship sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $215.98, for a total transaction of $1,079,900.00. Following the completion of the sale, the chief executive officer owned 73,117 shares in the company, valued at $15,791,809.66. This represents a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,296 shares of company stock worth $6,611,283. Corporate insiders own 0.82% of the company's stock.

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.