Woodward (NASDAQ:WWD) Reaches New 52-Week High on Analyst Upgrade

Shares of Woodward, Inc. (NASDAQ:WWD - Get Free Report) hit a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $140.00 to $175.00. Barclays currently has an equal weight rating on the stock. Woodward traded as high as $173.13 and last traded at $173.13, with a volume of 55658 shares trading hands. The stock had previously closed at $168.83.

Several other research firms have also recently issued reports on WWD. Truist Financial lifted their price objective on Woodward from $143.00 to $152.00 and gave the stock a "hold" rating in a report on Tuesday, April 30th. The Goldman Sachs Group upped their price target on Woodward from $159.00 to $201.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Wells Fargo & Company lifted their price objective on Woodward from $156.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft upped their target price on Woodward from $182.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, April 30th. Finally, StockNews.com lowered shares of Woodward from a "strong-buy" rating to a "buy" rating in a report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Woodward presently has an average rating of "Moderate Buy" and an average target price of $173.13.

Insider Buying and Selling at Woodward

In related news, Director John D. Cohn sold 1,500 shares of Woodward stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $138.86, for a total value of $208,290.00. Following the completion of the transaction, the director now owns 20,531 shares in the company, valued at $2,850,934.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John D. Cohn sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $138.86, for a total transaction of $208,290.00. Following the completion of the sale, the director now owns 20,531 shares in the company, valued at $2,850,934.66. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christopher Fawzy sold 11,000 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $140.00, for a total value of $1,540,000.00. Following the completion of the sale, the executive vice president now directly owns 4,836 shares of the company's stock, valued at $677,040. The disclosure for this sale can be found here. Insiders sold 57,200 shares of company stock valued at $8,244,976 in the last 90 days. Company insiders own 1.12% of the company's stock.

Institutional Investors Weigh In On Woodward

Several hedge funds have recently made changes to their positions in WWD. Venturi Wealth Management LLC grew its position in Woodward by 79.3% during the fourth quarter. Venturi Wealth Management LLC now owns 199 shares of the technology company's stock worth $27,000 after buying an additional 88 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Woodward in the 1st quarter worth approximately $31,000. BluePath Capital Management LLC acquired a new position in Woodward during the third quarter worth $32,000. Principal Securities Inc. purchased a new stake in Woodward during the fourth quarter worth $34,000. Finally, Mather Group LLC. acquired a new stake in Woodward in the first quarter valued at $34,000. Institutional investors and hedge funds own 81.18% of the company's stock.

Woodward Trading Up 2.6 %

The firm has a market cap of $10.44 billion, a PE ratio of 30.30, a PEG ratio of 1.76 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.62 and a quick ratio of 1.78. The business has a 50-day moving average price of $150.23 and a two-hundred day moving average price of $139.73.

Woodward (NASDAQ:WWD - Get Free Report) last posted its earnings results on Monday, April 29th. The technology company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.34. Woodward had a net margin of 11.09% and a return on equity of 16.50%. The firm had revenue of $835.34 million during the quarter, compared to the consensus estimate of $807.04 million. During the same period last year, the firm posted $1.01 EPS. The firm's revenue for the quarter was up 16.3% on a year-over-year basis. Analysts forecast that Woodward, Inc. will post 5.88 EPS for the current year.

Woodward Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Investors of record on Wednesday, May 22nd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.58%. Woodward's payout ratio is 17.48%.

About Woodward

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.