ING Groep NV Buys New Position in Woodward, Inc. (NASDAQ:WWD)
ING Groep NV bought a new stake in Woodward, Inc. (NASDAQ:WWD) during the second quarter, Holdings Channel reports. The firm bought 6,709 shares of the technology company’s stock, valued at approximately $453,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Woodward by 20,843.7% in the first quarter. BlackRock Inc. now owns 5,613,757 shares of the technology company’s stock valued at $381,285,000 after buying an additional 5,586,953 shares during the last quarter. Ardevora Asset Management LLP bought a new stake in Woodward during the second quarter valued at $34,344,000. Vanguard Group Inc. increased its stake in Woodward by 7.1% in the first quarter. Vanguard Group Inc. now owns 4,576,108 shares of the technology company’s stock valued at $310,809,000 after buying an additional 303,863 shares during the last quarter. AQR Capital Management LLC increased its stake in Woodward by 60.5% in the first quarter. AQR Capital Management LLC now owns 644,534 shares of the technology company’s stock valued at $43,777,000 after buying an additional 243,036 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Woodward by 14.0% in the first quarter. Bank of New York Mellon Corp now owns 885,229 shares of the technology company’s stock valued at $60,124,000 after buying an additional 108,955 shares during the last quarter. 71.17% of the stock is owned by hedge funds and other institutional investors.
Woodward, Inc. (NASDAQ WWD) traded up 0.24% during trading on Friday, hitting $69.84. The stock had a trading volume of 116,569 shares. The stock has a market cap of $4.28 billion, a price-to-earnings ratio of 21.96 and a beta of 1.21. The firm has a 50 day moving average of $68.78 and a 200-day moving average of $68.69. Woodward, Inc. has a 12 month low of $57.02 and a 12 month high of $72.97.
Woodward (NASDAQ:WWD) last posted its quarterly earnings results on Monday, July 24th. The technology company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.76 by $0.09. Woodward had a net margin of 9.67% and a return on equity of 16.12%. The company had revenue of $548.62 million for the quarter, compared to analyst estimates of $530.89 million. During the same period in the prior year, the company earned $0.81 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. Equities analysts predict that Woodward, Inc. will post $3.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Friday, August 18th. Woodward’s payout ratio is 15.77%.
Several analysts recently weighed in on the company. BidaskClub downgraded Woodward from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Wood & Company restated a “buy” rating and issued a $80.00 price target on shares of Woodward in a research note on Tuesday, July 25th. CIBC started coverage on Woodward in a research note on Friday, July 14th. They issued an “outperform” rating and a $82.00 price target on the stock. Oppenheimer Holdings, Inc. started coverage on Woodward in a research note on Friday, July 14th. They set an “outperform” rating and a $82.00 target price on the stock. Finally, Cowen and Company reiterated a “market perform” rating and set a $62.00 target price (up from $58.00) on shares of Woodward in a research note on Friday, April 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Woodward presently has an average rating of “Hold” and an average target price of $73.89.
In other Woodward news, CFO Robert F. Weber, Jr. sold 7,500 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $66.49, for a total value of $498,675.00. Following the sale, the chief financial officer now directly owns 34,053 shares of the company’s stock, valued at $2,264,183.97. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.93% of the stock is currently owned by corporate insiders.
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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