Principal Financial Group Inc. Buys 21,146 Shares of Woodward Inc. (WWD)
Principal Financial Group Inc. increased its stake in Woodward Inc. (NASDAQ:WWD) by 11.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 205,531 shares of the company’s stock after buying an additional 21,146 shares during the period. Principal Financial Group Inc. owned 0.33% of Woodward worth $11,847,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. Royce & Associates LP boosted its stake in Woodward by 1.5% in the second quarter. Royce & Associates LP now owns 1,848,901 shares of the company’s stock valued at $106,571,000 after buying an additional 28,100 shares during the period. Bank of New York Mellon Corp boosted its stake in Woodward by 12.8% in the second quarter. Bank of New York Mellon Corp now owns 775,108 shares of the company’s stock valued at $44,677,000 after buying an additional 88,109 shares during the period. Eagle Asset Management Inc. boosted its stake in Woodward by 14.6% in the second quarter. Eagle Asset Management Inc. now owns 762,249 shares of the company’s stock valued at $43,936,000 after buying an additional 97,258 shares during the period. Cooke & Bieler LP boosted its stake in Woodward by 1.2% in the second quarter. Cooke & Bieler LP now owns 597,666 shares of the company’s stock valued at $34,449,000 after buying an additional 7,160 shares during the period. Finally, Brown Advisory Inc. boosted its stake in Woodward by 3.3% in the second quarter. Brown Advisory Inc. now owns 563,246 shares of the company’s stock valued at $32,466,000 after buying an additional 18,177 shares during the period. Institutional investors and hedge funds own 75.13% of the company’s stock.
Woodward Inc. (NASDAQ:WWD) opened at 59.19 on Wednesday. Woodward Inc. has a 1-year low of $41.24 and a 1-year high of $63.98. The stock has a market cap of $3.64 billion, a PE ratio of 22.56 and a beta of 1.25. The stock has a 50 day moving average price of $61.52 and a 200-day moving average price of $57.75.
Woodward (NASDAQ:WWD) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.05. Woodward had a return on equity of 15.53% and a net margin of 8.40%. The company had revenue of $508 million for the quarter, compared to analysts’ expectations of $521.70 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts expect that Woodward Inc. will post $2.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Shareholders of record on Monday, November 14th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.44 annualized dividend and a yield of 0.74%. Woodward’s payout ratio is currently 16.73%.
Several research firms have weighed in on WWD. Zacks Investment Research cut Woodward from a “buy” rating to a “hold” rating in a report on Monday, September 26th. Barrington Research began coverage on Woodward in a report on Friday, September 16th. They issued a “market perform” rating for the company. Maxim Group increased their price objective on Woodward from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, July 15th. Finally, Jefferies Group set a $59.00 target price on Woodward and gave the company a “hold” rating in a research note on Wednesday, July 20th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Woodward has a consensus rating of “Hold” and an average target price of $60.25.
In other news, VP Christopher Fawzy sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $59.30, for a total transaction of $355,800.00. Following the transaction, the vice president now owns 9,506 shares of the company’s stock, valued at $563,705.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary L. Petrovich sold 8,200 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were 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. Company insiders own 6.18% of the company’s stock.
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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