PNC Financial Services Group Inc. reduced its position in shares of Woodward Inc. (NASDAQ:WWD) by 0.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,619 shares of the company’s stock after selling 17 shares during the period. PNC Financial Services Group Inc.’s holdings in Woodward were worth $152,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WWD. Geode Capital Management LLC increased its position in shares of Woodward by 2.9% in the first quarter. Geode Capital Management LLC now owns 394,102 shares of the company’s stock worth $20,501,000 after buying an additional 11,282 shares during the period. Norges Bank acquired a new position in shares of Woodward during the fourth quarter worth about $33,224,000. Prudential Financial Inc. increased its position in shares of Woodward by 16.6% in the first quarter. Prudential Financial Inc. now owns 43,939 shares of the company’s stock worth $2,286,000 after buying an additional 6,258 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Woodward by 0.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 19,631 shares of the company’s stock worth $1,021,000 after buying an additional 98 shares during the period. Finally, Mutual of America Capital Management LLC increased its position in shares of Woodward by 7.7% in the second quarter. Mutual of America Capital Management LLC now owns 41,326 shares of the company’s stock worth $2,382,000 after buying an additional 2,960 shares during the period. Hedge funds and other institutional investors own 75.13% of the company’s stock.
Woodward Inc. (NASDAQ:WWD) traded down 2.16% during mid-day trading on Friday, hitting $60.65. The company’s stock had a trading volume of 233,649 shares. The company’s 50 day moving average is $61.63 and its 200-day moving average is $57.60. The stock has a market cap of $3.73 billion, a P/E ratio of 23.11 and a beta of 1.25. Woodward Inc. has a 52-week low of $41.24 and a 52-week high of $63.98.
Woodward (NASDAQ:WWD) last posted its earnings results on Wednesday, July 20th. The company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.05. The business earned $508 million during the quarter, compared to analyst estimates of $521.70 million. Woodward had a return on equity of 15.53% and a net margin of 8.40%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, equities analysts predict that Woodward Inc. will post $2.78 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Monday, November 14th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Wednesday, November 9th. Woodward’s payout ratio is 16.73%.
A number of research analysts have recently commented on the company. Maxim Group upped their price target on Woodward from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, July 15th. Zacks Investment Research cut Woodward from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Jefferies Group set a $59.00 price objective on Woodward and gave the stock a “hold” rating in a report on Wednesday, July 20th. Finally, Barrington Research assumed coverage on Woodward in a report on Friday, September 16th. They set a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $60.25.
In related news, VP Christopher Fawzy sold 6,000 shares of Woodward stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $59.30, for a total value of $355,800.00. Following the completion of the sale, the vice president now owns 9,506 shares of the company’s stock, valued at $563,705.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary L. Petrovich sold 8,200 shares of Woodward stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $58.54, for a total value of $480,028.00. The disclosure for this sale can be found here. 6.18% of the stock is owned by company insiders.
Woodward, Inc is a designer, manufacturer, and service provider of energy controls and optimization solutions. The Company has production and assembly facilities in the United States, Europe and Asia, and promotes its products and services through its worldwide locations. The Company’s is engaged in providing energy control and optimization solutions for the aerospace and energy markets.
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