Woodward (NASDAQ:WWD) Price Target Raised to $294.00

Woodward (NASDAQ:WWD - Get Free Report) had its price target hoisted by equities research analysts at Truist Financial from $267.00 to $294.00 in a report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Truist Financial's target price suggests a potential upside of 19.34% from the company's current price.

Several other equities analysts have also issued reports on WWD. Wells Fargo & Company boosted their price objective on Woodward from $175.00 to $193.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. 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 report on Tuesday, June 3rd. UBS Group upped their price target on Woodward from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen raised Woodward from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, 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 report on Friday, May 23rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $232.25.

Woodward Stock Up 0.0%

Shares of WWD traded up $0.06 on Friday, hitting $246.36. The company's stock had a trading volume of 87,797 shares, compared to its average volume of 485,860. The company has a quick ratio of 1.30, a current ratio of 1.95 and a debt-to-equity ratio of 0.21. The firm's fifty day moving average price is $226.04 and its 200-day moving average price is $196.36. Woodward has a fifty-two week low of $145.98 and a fifty-two week high of $255.69. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 39.80, a P/E/G ratio of 2.96 and a beta of 1.26.

Woodward (NASDAQ:WWD - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The technology company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.25. Woodward had a return on equity of 16.86% and a net margin of 11.36%. The business had revenue of $883.63 million during the quarter, compared to analyst estimates of $838.61 million. During the same period in the previous year, the firm earned $1.62 EPS. Woodward's quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts expect that Woodward will post 6.15 EPS for the current year.

Insider Activity

In other news, EVP Terence J. Voskuil sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $231.03, for a total value of $2,310,300.00. Following the completion of the sale, the executive vice president owned 4,945 shares of the company's stock, valued at approximately $1,142,443.35. This represents a 66.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Randall Hobbs sold 846 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $250.00, for a total value of $211,500.00. Following the completion of the sale, the executive vice president directly owned 48,981 shares of the company's stock, valued at approximately $12,245,250. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,096 shares of company stock valued at $9,247,289. 0.82% of the stock is owned by insiders.

Institutional Investors Weigh In On Woodward

Several large investors have recently made changes to their positions in WWD. Newport Trust Company LLC lifted its holdings in Woodward by 2.3% during the 1st quarter. Newport Trust Company LLC now owns 2,193,238 shares of the technology company's stock valued at $400,244,000 after purchasing an additional 49,481 shares during the last quarter. Farallon Capital Management LLC raised its position in shares of Woodward by 31.8% in the fourth quarter. Farallon Capital Management LLC now owns 1,521,300 shares of the technology company's stock valued at $253,175,000 after purchasing an additional 367,300 shares during the period. Earnest Partners LLC raised its position in shares of Woodward by 2.8% in the fourth quarter. Earnest Partners LLC now owns 1,418,123 shares of the technology company's stock valued at $236,004,000 after purchasing an additional 38,774 shares during the period. Naya Capital Management UK Ltd. lifted its stake in shares of 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 worth $221,133,000 after buying an additional 751,541 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Woodward by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 1,302,237 shares of the technology company's stock worth $216,771,000 after buying an additional 23,735 shares during the period. Institutional investors and hedge funds 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.

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