Woodward (NASDAQ:WWD) Reaches New 1-Year High - Here's Why

Woodward, Inc. (NASDAQ:WWD - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $257.85 and last traded at $256.35, with a volume of 165165 shares trading hands. The stock had previously closed at $253.64.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on WWD shares. UBS Group upped their price objective on shares of Woodward from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. The Goldman Sachs Group upped their price target on Woodward from $229.00 to $255.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Wells Fargo & Company increased their price objective on Woodward from $175.00 to $193.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Truist Financial boosted their target price on Woodward from $267.00 to $294.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $245.00 target price (up previously from $225.00) on shares of Woodward in a research report on Friday, May 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $232.25.

Woodward Stock Up 1.5%

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.95 and a quick ratio of 1.30. The firm has a market capitalization of $15.28 billion, a P/E ratio of 41.59, a price-to-earnings-growth ratio of 2.93 and a beta of 1.26. The business has a 50 day moving average price of $230.48 and a 200 day moving average price of $198.56.

Woodward (NASDAQ:WWD - Get Free Report) last released its 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. Woodward had a return on equity of 16.86% and a net margin of 11.36%. The firm had revenue of $883.63 million for the quarter, compared to analyst estimates of $838.61 million. During the same quarter last year, the firm posted $1.62 EPS. The company's revenue was up 5.9% on a year-over-year basis. On average, analysts predict that Woodward, Inc. will post 6.15 earnings per share for the current year.

Woodward Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Thursday, May 22nd. Woodward's dividend payout ratio (DPR) is presently 18.09%.

Insider Transactions at Woodward

In related news, CEO Charles P. Blankenship sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $228.41, for a total transaction of $1,142,050.00. Following the completion of the transaction, the chief executive officer owned 67,189 shares in the company, valued at $15,346,639.49. This trade represents a 6.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John D. Cohn sold 2,800 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $191.52, for a total value of $536,256.00. Following the transaction, the director owned 20,965 shares of the company's stock, valued at $4,015,216.80. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,096 shares of company stock worth $9,247,289. Insiders own 0.82% of the company's stock.

Hedge Funds Weigh In On Woodward

Large investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Woodward by 191.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 166 shares of the technology company's stock valued at $30,000 after acquiring an additional 109 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its position in Woodward by 2,314.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the technology company's stock valued at $31,000 after purchasing an additional 162 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Woodward by 189.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171 shares of the technology company's stock valued at $31,000 after purchasing an additional 112 shares during the period. TCTC Holdings LLC grew its position in shares of Woodward by 116.7% during the 1st 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 stake in shares of Woodward during the first quarter worth approximately $38,000. 81.18% of the stock is currently owned by institutional investors and hedge funds.

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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