Woodward (NASDAQ:WWD) Given New $260.00 Price Target at Barclays

Key Points

• Barclays has raised its price target for Woodward (NASDAQ:WWD) from $200 to $260, maintaining an "equal weight" rating, which indicates a potential downside of 0.50% from the current price.
• Other analysts have also updated their ratings and price targets, with Goldman Sachs rating the stock as a "buy" at a price target of $255 and Truist Financial increasing its target to $294.
• Woodward reported a quarterly earnings per share (EPS) of $1.76, exceeding analysts' expectations of $1.62, with revenue rising to $915.45 million for the quarter.

Woodward (NASDAQ:WWD - Free Report) had its price target upped by Barclays from $200.00 to $260.00 in a research note issued to investors on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the technology company's stock.

A number of other research firms also recently issued reports on WWD. Northcoast Research upgraded shares of Woodward to a "hold" rating in a research report on Friday, July 25th. Jefferies Financial Group reaffirmed a "buy" rating and set a $245.00 price target (up previously from $225.00) on shares of Woodward in a research note on Friday, May 23rd. Truist Financial upped their price target on shares of Woodward from $267.00 to $294.00 and gave the company a "buy" rating in a report on Friday, July 11th. The Goldman Sachs Group increased their price target on shares of Woodward from $229.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Finally, Wells Fargo & Company upped their target price on Woodward from $175.00 to $193.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $249.63.

Woodward Stock Performance

NASDAQ:WWD traded down $0.84 during mid-day trading on Monday, reaching $249.79. The stock had a trading volume of 54,569 shares, compared to its average volume of 521,651. Woodward has a twelve month low of $146.82 and a twelve month high of $267.45. The business has a 50 day simple moving average of $245.95 and a 200 day simple moving average of $207.18. The firm has a market capitalization of $14.98 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 2.71 and a beta of 1.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.39 and a current ratio of 2.04.

Woodward (NASDAQ:WWD - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The technology company reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.14. The firm had revenue of $915.45 million for the quarter, compared to analyst estimates of $884.98 million. Woodward had a return on equity of 16.57% and a net margin of 11.32%. Woodward's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 earnings per share. On average, analysts expect that Woodward will post 6.15 earnings per share for the current fiscal year.

Woodward Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, August 21st. Woodward's dividend payout ratio (DPR) is currently 17.72%.

Insider Transactions at Woodward

In related news, CEO Charles P. Blankenship sold 2,450 shares of Woodward stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $230.85, for a total value of $565,582.50. Following the completion of the transaction, the chief executive officer directly owned 64,739 shares in the company, valued at approximately $14,944,998.15. This trade represents a 3.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Randall Hobbs sold 846 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $250.00, for a total value of $211,500.00. Following the transaction, the executive vice president directly owned 48,981 shares in the company, valued at approximately $12,245,250. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,296 shares of company stock valued at $8,711,033. Insiders own 0.82% of the company's stock.

Institutional Trading of Woodward

A number of institutional investors and hedge funds have recently modified their holdings of WWD. MassMutual Private Wealth & Trust FSB lifted its position in Woodward by 191.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 166 shares of the technology company's stock valued at $30,000 after purchasing an additional 109 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Woodward by 2,314.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the technology company's stock valued at $31,000 after buying an additional 162 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Woodward by 189.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171 shares of the technology company's stock valued at $31,000 after buying an additional 112 shares during the last quarter. TCTC Holdings LLC boosted its position in shares of Woodward by 116.7% during the first quarter. TCTC Holdings LLC now owns 182 shares of the technology company's stock worth $33,000 after buying an additional 98 shares during the period. Finally, Virtus Advisers LLC bought a new position in Woodward in the 1st quarter worth approximately $38,000. 81.18% of the stock is owned by institutional investors and hedge funds.

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.