Redwood Investment Management LLC Takes $1.42 Million Position in Woodward, Inc. (NASDAQ:WWD)

Redwood Investment Management LLC acquired a new stake in Woodward, Inc. (NASDAQ:WWD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,538 shares of the technology company's stock, valued at approximately $1,421,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Naya Capital Management UK Ltd. raised its holdings in Woodward by 130.2% in the 4th quarter. Naya Capital Management UK Ltd. now owns 1,328,765 shares of the technology company's stock worth $221,133,000 after purchasing an additional 751,541 shares during the period. Norges Bank acquired a new position in Woodward in the 4th quarter worth about $120,220,000. Farallon Capital Management LLC raised its holdings in Woodward by 31.8% in the 4th quarter. Farallon Capital Management LLC now owns 1,521,300 shares of the technology company's stock worth $253,175,000 after purchasing an additional 367,300 shares during the period. Raymond James Financial Inc. acquired a new position in Woodward in the 4th quarter worth about $31,187,000. Finally, Duquesne Family Office LLC raised its holdings in Woodward by 15.9% in the 4th quarter. Duquesne Family Office LLC now owns 1,225,750 shares of the technology company's stock worth $203,989,000 after purchasing an additional 168,035 shares during the period. Institutional investors and hedge funds own 81.18% of the company's stock.

Analyst Ratings Changes

WWD has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $187.00 price target on Woodward and gave the stock a "hold" rating in a report on Monday, April 14th. StockNews.com upgraded Woodward from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Truist Financial boosted their price objective on Woodward from $205.00 to $209.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Wells Fargo & Company boosted their price objective on Woodward from $175.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Finally, UBS Group boosted their price objective on Woodward from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $195.00.

Insider Transactions at Woodward

In related news, Director Gregg C. Sengstack sold 4,600 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $187.86, for a total value of $864,156.00. Following the completion of the transaction, the director now directly owns 17,450 shares in the company, valued at approximately $3,278,157. This represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Thomas G. Cromwell sold 10,000 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $186.49, for a total value of $1,864,900.00. Following the completion of the transaction, the chief operating officer now owns 15,477 shares of the company's stock, valued at $2,886,305.73. The trade was a 39.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,700 shares of company stock worth $5,751,700 in the last 90 days. Insiders own 0.82% of the company's stock.

Woodward Price Performance

WWD stock opened at $209.79 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.89 and a quick ratio of 1.19. The business has a 50 day simple moving average of $182.45 and a 200-day simple moving average of $180.52. The firm has a market capitalization of $12.45 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 2.37 and a beta of 1.24. Woodward, Inc. has a 1 year low of $145.98 and a 1 year high of $210.00.

Woodward (NASDAQ:WWD - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The technology company reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.25. The business had revenue of $883.63 million during the quarter, compared to analyst estimates of $838.61 million. Woodward had a return on equity of 16.76% and a net margin of 11.18%. The business's revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 earnings per share. Equities 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 declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be paid 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 0.53%. Woodward's dividend payout ratio (DPR) is 18.09%.

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.

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