Woodward (NASDAQ:WWD) Given New $267.00 Price Target at Truist Financial

Woodward (NASDAQ:WWD - Get Free Report) had its price objective hoisted by investment analysts at Truist Financial from $232.00 to $267.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Truist Financial's price objective suggests a potential upside of 13.64% from the stock's current price.

Other equities analysts have also issued reports about the company. Jefferies Financial Group reaffirmed a "buy" rating and set a $245.00 price target (up from $225.00) on shares of Woodward in a research note on Friday, May 23rd. Wells Fargo & Company increased their price target on Woodward from $175.00 to $193.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. UBS Group increased their price target on Woodward from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft raised Woodward from a "hold" rating to a "buy" rating and set a $291.00 price target for the company in a research note on Tuesday, June 3rd. Finally, Wall Street Zen raised Woodward from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Woodward currently has an average rating of "Moderate Buy" and a consensus price target of $222.13.

Woodward Stock Performance

WWD stock traded up $1.90 on Thursday, reaching $234.95. The company's stock had a trading volume of 611,168 shares, compared to its average volume of 474,503. Woodward has a 52 week low of $145.98 and a 52 week high of $236.87. The company has a market capitalization of $13.95 billion, a P/E ratio of 39.36, a price-to-earnings-growth ratio of 2.37 and a beta of 1.24. The firm has a fifty day moving average of $197.56 and a two-hundred day moving average of $187.11. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.89 and a quick ratio of 1.19.

Woodward (NASDAQ:WWD - Get Free Report) last issued 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 firm 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 firm's quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. As a group, analysts predict that Woodward will post 6.15 EPS for the current fiscal year.

Insider Transactions at Woodward

In other news, COO Thomas G. Cromwell sold 10,000 shares of the stock in a transaction 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 sale, the chief operating officer now owns 15,477 shares in the company, valued at $2,886,305.73. This represents a 39.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Randall Hobbs sold 500 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $230.00, for a total value of $115,000.00. Following the completion of the sale, the executive vice president now owns 50,268 shares of the company's stock, valued at $11,561,640. The trade was a 0.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,050 shares of company stock valued at $13,267,077 in the last three months. 0.82% of the stock is currently owned by corporate insiders.

Institutional Trading of Woodward

A number of hedge funds have recently modified their holdings of WWD. Atria Wealth Solutions Inc. purchased a new stake in shares of Woodward during the fourth quarter worth $465,000. Focus Partners Wealth purchased a new stake in shares of Woodward during the fourth quarter worth $294,000. Sanctuary Advisors LLC raised its holdings in shares of Woodward by 3.9% during the fourth quarter. Sanctuary Advisors LLC now owns 10,286 shares of the technology company's stock worth $1,712,000 after acquiring an additional 389 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Woodward during the fourth quarter worth $2,137,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Woodward by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 503,977 shares of the technology company's stock worth $83,872,000 after acquiring an additional 3,099 shares in the last quarter. Hedge funds and other institutional investors own 81.18% of the company's stock.

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.