Amalgamated Bank Decreases Stake in Woodward, Inc. (NASDAQ:WWD)

Amalgamated Bank reduced its holdings in Woodward, Inc. (NASDAQ:WWD - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,928 shares of the technology company's stock after selling 7,162 shares during the period. Amalgamated Bank owned approximately 0.05% of Woodward worth $5,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Woodward during the fourth quarter worth about $84,157,000. Hawk Ridge Capital Management LP raised its stake in Woodward by 61.9% during the third quarter. Hawk Ridge Capital Management LP now owns 490,042 shares of the technology company's stock worth $60,893,000 after purchasing an additional 187,300 shares during the period. Sei Investments Co. raised its stake in Woodward by 37.6% during the fourth quarter. Sei Investments Co. now owns 524,683 shares of the technology company's stock worth $71,425,000 after purchasing an additional 143,410 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in Woodward during the third quarter worth about $16,627,000. Finally, Panagora Asset Management Inc. raised its stake in Woodward by 3,387.8% during the fourth quarter. Panagora Asset Management Inc. now owns 78,231 shares of the technology company's stock worth $10,650,000 after purchasing an additional 75,988 shares during the period. 81.18% of the stock is owned by hedge funds and other institutional investors.

Woodward Stock Performance

NASDAQ:WWD traded up $1.31 during trading hours on Tuesday, reaching $182.49. 450,828 shares of the company's stock were exchanged, compared to its average volume of 413,771. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 31.90, a P/E/G ratio of 1.87 and a beta of 1.31. The company has a 50-day moving average of $158.46 and a 200 day moving average of $144.31. The company has a quick ratio of 1.78, a current ratio of 2.62 and a debt-to-equity ratio of 0.28. Woodward, Inc. has a 1-year low of $105.18 and a 1-year high of $182.71.

Woodward (NASDAQ:WWD - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.34. The firm had revenue of $835.34 million during the quarter, compared to analysts' expectations of $807.04 million. Woodward had a net margin of 11.09% and a return on equity of 16.50%. Woodward's quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 EPS. Research analysts anticipate that Woodward, Inc. will post 5.89 EPS for the current year.

Woodward Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Tuesday, May 21st. Woodward's dividend payout ratio (DPR) is presently 17.48%.

Insider Transactions at Woodward

In other news, Director Gregg C. Sengstack sold 6,000 shares of the firm's stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $167.01, for a total value of $1,002,060.00. Following the completion of the sale, the director now owns 17,450 shares in the company, valued at approximately $2,914,324.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Christopher Fawzy sold 11,000 shares of the firm's stock in a transaction dated 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 owns 4,836 shares in the company, valued at $677,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregg C. Sengstack sold 6,000 shares of the firm's stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $167.01, for a total transaction of $1,002,060.00. Following the completion of the sale, the director now owns 17,450 shares of the company's stock, valued at approximately $2,914,324.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,700 shares of company stock worth $8,036,686. Company insiders own 1.12% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Woodward from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 2nd. UBS Group boosted their price target on shares of Woodward from $168.00 to $177.00 and gave the company a "buy" rating in a research note on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Woodward from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, April 30th. Truist Financial upped their target price on shares of Woodward from $143.00 to $152.00 and gave the stock a "hold" rating in a research note on Tuesday, April 30th. Finally, Barclays upped their target price on shares of Woodward from $140.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Monday, May 6th. Four research 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, the company currently has an average rating of "Moderate Buy" and an average target price of $173.13.

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.

Want to see what other hedge funds are holding WWD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Woodward, Inc. (NASDAQ:WWD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.