Woodward, Inc. (NASDAQ:WWD) Sees Significant Decrease in Short Interest

Woodward, Inc. (NASDAQ:WWD - Get Free Report) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 1,110,000 shares, a drop of 16.5% from the April 30th total of 1,330,000 shares. Based on an average trading volume of 516,800 shares, the days-to-cover ratio is presently 2.1 days. Currently, 1.9% of the company's shares are sold short.

Woodward Stock Up 1.7%

NASDAQ:WWD traded up $3.86 during trading hours on Wednesday, reaching $234.51. 718,856 shares of the company traded hands, compared to its average volume of 468,061. Woodward has a 1 year low of $145.98 and a 1 year high of $235.11. The stock has a market capitalization of $13.92 billion, a P/E ratio of 39.28, a P/E/G ratio of 2.37 and a beta of 1.24. The business's 50-day moving average price is $189.58 and its two-hundred day moving average price is $184.29. The company has a current ratio of 1.89, a quick ratio of 1.19 and a debt-to-equity ratio of 0.22.

Woodward (NASDAQ:WWD - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The technology company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business posted $1.62 EPS. Woodward's revenue was up 5.9% compared to the same quarter last year. Analysts predict that Woodward will post 6.15 earnings per share for the current year.

Woodward Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Thursday, May 22nd. Woodward's dividend payout ratio (DPR) is currently 18.09%.

Insider Buying and Selling

In other Woodward news, COO Thomas G. Cromwell sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $184.50, for a total transaction of $1,845,000.00. Following the completion of the transaction, the chief operating officer now owns 15,477 shares of the company's stock, valued at $2,855,506.50. This represents a 39.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles P. Blankenship sold 5,000 shares of Woodward stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $215.98, for a total value of $1,079,900.00. Following the completion of the sale, the chief executive officer now owns 73,117 shares in the company, valued at approximately $15,791,809.66. This represents a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,100 shares of company stock worth $9,134,144 in the last ninety days. 0.82% of the stock is owned by insiders.

Hedge Funds Weigh In On Woodward

A number of hedge funds have recently added to or reduced their stakes in WWD. Newport Trust Company LLC raised its stake in shares of Woodward by 2.3% in the first quarter. Newport Trust Company LLC now owns 2,193,238 shares of the technology company's stock worth $400,244,000 after purchasing an additional 49,481 shares during the last quarter. Farallon Capital Management LLC increased 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 buying an additional 367,300 shares in the last quarter. Earnest Partners LLC raised its position in Woodward by 2.8% in the 4th quarter. Earnest Partners LLC now owns 1,418,123 shares of the technology company's stock worth $236,004,000 after buying an additional 38,774 shares during the last quarter. Naya Capital Management UK Ltd. lifted its stake in Woodward by 130.2% during the 4th quarter. Naya Capital Management UK Ltd. now owns 1,328,765 shares of the technology company's stock valued at $221,133,000 after acquiring an additional 751,541 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Woodward by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,302,237 shares of the technology company's stock valued at $216,771,000 after acquiring an additional 23,735 shares during the period. 81.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Woodward from a "hold" rating to a "buy" rating and set a $291.00 target price for the company in a research report on Tuesday. Wall Street Zen raised Woodward from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Wells Fargo & Company increased 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, April 30th. Truist Financial set a $232.00 price target on Woodward in a research report on Friday, May 23rd. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $245.00 price objective (up previously from $225.00) on shares of Woodward in a report on Friday, May 23rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Woodward presently has an average rating of "Moderate Buy" and a consensus price target of $217.75.

Woodward Company 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.