Woodward, Inc. (NASDAQ:WWD) Position Increased by Credit Suisse AG
Credit Suisse AG boosted its stake in shares of Woodward, Inc. (NASDAQ:WWD) by 14.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,196 shares of the technology company’s stock after buying an additional 9,981 shares during the period. Credit Suisse AG owned 0.13% of Woodward worth $5,243,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Retirement Systems of Alabama increased its stake in shares of Woodward by 65.8% in the first quarter. Retirement Systems of Alabama now owns 118,725 shares of the technology company’s stock valued at $8,064,000 after buying an additional 47,103 shares during the period. Oakbrook Investments LLC bought a new stake in shares of Woodward during the first quarter valued at about $272,000. FIL Ltd increased its stake in shares of Woodward by 33.3% in the first quarter. FIL Ltd now owns 212,060 shares of the technology company’s stock valued at $14,403,000 after buying an additional 52,980 shares during the period. Martingale Asset Management L P increased its stake in shares of Woodward by 0.9% in the first quarter. Martingale Asset Management L P now owns 55,904 shares of the technology company’s stock valued at $3,797,000 after buying an additional 504 shares during the period. Finally, Sawgrass Asset Management LLC bought a new stake in shares of Woodward during the first quarter valued at about $206,000. Institutional investors and hedge funds own 70.33% of the company’s stock.
Woodward, Inc. (NASDAQ:WWD) opened at 68.55 on Friday. The company has a market capitalization of $4.20 billion, a PE ratio of 21.89 and a beta of 1.20. The stock’s 50 day moving average is $68.71 and its 200 day moving average is $68.65. Woodward, Inc. has a one year low of $57.02 and a one year high of $72.28.
Woodward (NASDAQ:WWD) last announced its quarterly earnings results on Wednesday, April 19th. The technology company reported $0.60 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by $0.06. The business had revenue of $500.40 million for the quarter, compared to analysts’ expectations of $498.56 million. Woodward had a net margin of 9.74% and a return on equity of 16.41%. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. On average, analysts anticipate that Woodward, Inc. will post $3.11 earnings per share for the current fiscal year.
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WWD has been the subject of several research reports. CL King initiated coverage on shares of Woodward in a research report on Thursday, June 22nd. They set a “buy” rating and a $79.00 price objective for the company. BidaskClub downgraded shares of Woodward from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Woodward from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Cowen and Company restated a “market perform” rating and set a $62.00 price objective (up from $58.00) on shares of Woodward in a research report on Friday, April 21st. Finally, CIBC initiated coverage on shares of Woodward in a research report on Friday, July 14th. They set an “outperform” rating and a $82.00 price objective for the company. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $74.11.
In related news, CFO Robert F. Weber, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $66.49, for a total transaction of $498,675.00. Following the sale, the chief financial officer now directly owns 34,053 shares in the company, valued at approximately $2,264,183.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary L. Petrovich purchased 7,300 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were acquired at an average price of $68.35 per share, for a total transaction of $498,955.00. Following the completion of the purchase, the director now directly owns 22,204 shares in the company, valued at approximately $1,517,643.40. The disclosure for this purchase can be found here. Corporate insiders own 5.93% of the company’s stock.
Woodward Company Profile
Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.
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