Woodward (NASDAQ:WWD) Hits New 52-Week High - Should You Buy?

Woodward, Inc. (NASDAQ:WWD - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $230.79 and last traded at $227.89, with a volume of 144627 shares changing hands. The stock had previously closed at $218.19.

Wall Street Analysts Forecast Growth

WWD has been the topic of several research analyst reports. Wall Street Zen raised Woodward from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft raised Woodward from a "hold" rating to a "buy" rating and set a $291.00 price target on the stock in a research note on Tuesday. Wells Fargo & Company lifted their price target on Woodward from $175.00 to $193.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. UBS Group lifted their price target on Woodward from $200.00 to $220.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Finally, Truist Financial set a $232.00 price target on Woodward in a research note on Friday, May 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $217.75.

Woodward Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.89 and a debt-to-equity ratio of 0.22. The company has a market cap of $13.92 billion, a PE ratio of 39.28, a P/E/G ratio of 2.37 and a beta of 1.24. The stock has a 50-day simple moving average of $189.58 and a 200 day simple moving average of $184.29.

Woodward (NASDAQ:WWD - Get Free Report) last posted its earnings results on Monday, April 28th. The technology company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.25. The company had revenue of $883.63 million for the quarter, compared to the consensus estimate of $838.61 million. Woodward had a return on equity of 16.76% and a net margin of 11.18%. The company's revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.62 earnings per share. Equities analysts expect that Woodward, Inc. will post 6.15 EPS for the current year.

Woodward Dividend Announcement

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

Insider Buying and Selling

In related news, COO Thomas G. Cromwell sold 10,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $184.50, for a total value of $1,845,000.00. Following the completion of the sale, the chief operating officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles P. Blankenship sold 5,000 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were 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 directly owns 73,117 shares of the company's stock, valued at approximately $15,791,809.66. This trade represents a 6.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,100 shares of company stock valued at $9,134,144 in the last three months. 0.82% of the stock is owned by corporate insiders.

Institutional Trading of Woodward

A number of large investors have recently made changes to their positions in the company. Barclays PLC raised its stake in Woodward by 51.4% during the 3rd quarter. Barclays PLC now owns 42,189 shares of the technology company's stock valued at $7,236,000 after acquiring an additional 14,326 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of Woodward by 42.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,747 shares of the technology company's stock worth $318,000 after buying an additional 524 shares in the last quarter. Trust Point Inc. purchased a new position in shares of Woodward during the 4th quarter worth approximately $296,000. Mather Group LLC. raised its stake in shares of Woodward by 44.8% during the 4th quarter. Mather Group LLC. now owns 278 shares of the technology company's stock worth $46,000 after buying an additional 86 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Woodward by 15.2% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,160 shares of the technology company's stock worth $526,000 after buying an additional 416 shares in the last quarter. 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.