Pinebridge Investments L.P. Has $3.45 Million Stock Position in Woodward, Inc. (NASDAQ:WWD)

Pinebridge Investments L.P. raised its position in Woodward, Inc. (NASDAQ:WWD - Free Report) by 42.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,744 shares of the technology company's stock after buying an additional 6,208 shares during the period. Pinebridge Investments L.P.'s holdings in Woodward were worth $3,452,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Woodward by 51.4% during the 3rd quarter. Barclays PLC now owns 42,189 shares of the technology company's stock valued at $7,236,000 after acquiring an additional 14,326 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Woodward in the 3rd quarter valued at about $2,547,000. Tidal Investments LLC lifted its stake in Woodward by 11.0% during the 3rd quarter. Tidal Investments LLC now owns 2,738 shares of the technology company's stock worth $470,000 after acquiring an additional 271 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Woodward by 135.1% in the third quarter. JPMorgan Chase & Co. now owns 992,189 shares of the technology company's stock valued at $170,170,000 after purchasing an additional 570,124 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Woodward by 54.4% in the fourth quarter. GAMMA Investing LLC now owns 1,067 shares of the technology company's stock worth $178,000 after acquiring an additional 376 shares in the last quarter. 81.18% of the stock is owned by institutional investors and hedge funds.

Woodward Price Performance

Shares of NASDAQ:WWD traded up $4.57 during trading on Thursday, reaching $192.14. The company had a trading volume of 213,884 shares, compared to its average volume of 465,648. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.19 and a current ratio of 1.89. The firm has a market capitalization of $11.41 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12. The firm's fifty day moving average is $178.09 and its 200 day moving average is $177.64. Woodward, Inc. has a twelve month low of $145.98 and a twelve month high of $201.64.

Woodward (NASDAQ:WWD - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The technology company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.25. Woodward had a net margin of 11.18% and a return on equity of 16.76%. The company had revenue of $883.63 million for the quarter, compared to analysts' expectations of $838.61 million. During the same quarter in the previous year, the company posted $1.62 EPS. The business's revenue was up 5.9% compared to the same quarter last year. On average, equities analysts forecast that Woodward, Inc. will post 6.15 EPS for the current year.

Woodward Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. Woodward's dividend payout ratio is currently 18.76%.

Insider Activity

In related news, COO Thomas G. Cromwell sold 3,300 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $194.36, for a total value of $641,388.00. Following the completion of the transaction, the chief operating officer now directly owns 15,477 shares in the company, valued at approximately $3,008,109.72. The trade was a 17.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregg C. Sengstack sold 4,600 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $187.86, for a total transaction of $864,156.00. Following the sale, the director now owns 17,450 shares in the company, valued at $3,278,157. This trade represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,900 shares of company stock worth $5,215,444. Insiders own 0.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WWD shares. Wells Fargo & Company raised their target price on Woodward from $175.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Truist Financial boosted their price target on Woodward from $205.00 to $209.00 and gave the stock a "buy" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $187.00 target price on shares of Woodward and gave the company a "hold" rating in a report on Monday, April 14th. UBS Group lifted their price objective on Woodward from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, StockNews.com raised shares of Woodward from a "hold" rating to a "buy" rating in a research note on Tuesday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Woodward presently has an average rating of "Moderate Buy" and an average price target of $195.00.

Woodward 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.