Woodward, Inc. $WWD Stock Sold by Brookstone Capital Management

Key Points

• Brookstone Capital Management cut its Woodward stake by 80.5% in the third quarter, selling 4,802 shares and retaining 1,161 shares valued at approximately $381,000.
• Other institutional investors increased or initiated positions, and institutional ownership reached 81.18% of Woodward’s outstanding stock.
• Analysts maintain a “Moderate Buy” consensus with a $413.82 target price. Woodward also exceeded quarterly EPS estimates, reported 21.2% year-over-year revenue growth, and declared a $0.32 quarterly dividend.

Brookstone Capital Management lowered its position in shares of Woodward, Inc. (NASDAQ:WWD - Free Report) by 80.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,161 shares of the technology company's stock after selling 4,802 shares during the quarter. Brookstone Capital Management's holdings in Woodward were worth $381,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. NBT Bank N.A. bought a new position in shares of Woodward in the 3rd quarter worth about $307,000. Root Financial Partners LLC bought a new stake in Woodward during the third quarter worth about $106,000. Crossmark Global Holdings Inc. grew its holdings in Woodward by 6.5% in the third quarter. Crossmark Global Holdings Inc. now owns 4,004 shares of the technology company's stock worth $1,316,000 after purchasing an additional 245 shares during the period. Sowell Financial Services LLC grew its holdings in Woodward by 3.1% in the third quarter. Sowell Financial Services LLC now owns 12,896 shares of the technology company's stock worth $4,237,000 after purchasing an additional 382 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in Woodward by 1.4% in the third quarter. Quadrant Capital Group LLC now owns 3,608 shares of the technology company's stock worth $1,200,000 after purchasing an additional 51 shares during the period. Institutional investors own 81.18% of the company's stock.

Wall Street Analyst Weigh In

WWD has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on Woodward from $440.00 to $430.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 30th. Jefferies Financial Group lowered their price objective on Woodward from $450.00 to $420.00 and set a "buy" rating for the company in a research note on Friday, October 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of Woodward in a report on Thursday, October 15th. Wall Street Zen cut Woodward from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Finally, Zacks Research downgraded Woodward from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Woodward has a consensus rating of "Moderate Buy" and a consensus target price of $413.82.

Woodward Trading Up 3.6%

Shares of WWD stock opened at $314.92 on Friday. The firm has a fifty day moving average price of $328.99 and a 200-day moving average price of $364.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.65 and a quick ratio of 1.14. Woodward, Inc. has a 1 year low of $253.52 and a 1 year high of $450.92. The company has a market cap of $18.59 billion, a price-to-earnings ratio of 35.03, a PEG ratio of 1.59 and a beta of 0.86.

Woodward (NASDAQ:WWD - Get Free Report) last released its earnings results on Wednesday, July 29th. The technology company reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.44 by $0.08. The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.11 billion. Woodward had a net margin of 13.17% and a return on equity of 21.89%. The firm's revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.76 EPS. As a group, equities analysts predict that Woodward, Inc. will post 9.46 earnings per share for the current year.

Woodward Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 19th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $1.28 dividend on an annualized basis and a yield of 0.4%. Woodward's dividend payout ratio is presently 14.24%.

Woodward Profile

Woodward, Inc is an independent designer, manufacturer and service provider of control systems and components for the aerospace and industrial markets. The company develops technologies that help manage the flow of fuel, air, and other fluids, as well as mechanical and electrical energy, in engines and other power-generation systems.

Its aerospace products include fuel pumps and metering systems, engine controls, actuators, air valves, and electric power-management systems for commercial aircraft, business aviation, military aircraft, helicopters, and space applications.

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