Woodward, Inc. (NASDAQ:WWD) Position Maintained by First Manhattan Co.
First Manhattan Co. held its stake in shares of Woodward, Inc. (NASDAQ:WWD) during the second quarter, Holdings Channel reports. The institutional investor owned 2,000 shares of the technology company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Woodward were worth $135,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in shares of Woodward during the fourth quarter valued at $204,000. Sawgrass Asset Management LLC acquired a new stake in shares of Woodward during the first quarter valued at $206,000. Diversified Trust Co acquired a new stake in shares of Woodward during the second quarter valued at $213,000. PNC Financial Services Group Inc. increased its stake in shares of Woodward by 66.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,178 shares of the technology company’s stock valued at $217,000 after buying an additional 1,266 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Woodward during the fourth quarter valued at $224,000. Institutional investors own 71.09% of the company’s stock.
Woodward, Inc. (NASDAQ WWD) opened at 69.47 on Friday. Woodward, Inc. has a 1-year low of $57.09 and a 1-year high of $72.97. The firm has a market capitalization of $4.26 billion, a P/E ratio of 21.85 and a beta of 1.21. The company has a 50-day moving average price of $69.06 and a 200-day moving average price of $68.81.
Woodward (NASDAQ:WWD) last posted its quarterly earnings data on Monday, July 24th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $530.89 million. During the same quarter in the previous year, the firm posted $0.81 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts predict that Woodward, Inc. will post $3.10 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.125 per share. The ex-dividend date is Friday, August 18th. This represents a $0.50 annualized dividend and a dividend yield of 0.72%. Woodward’s payout ratio is 15.77%.
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Several analysts have recently weighed in on the company. CL King assumed coverage on Woodward in a research note on Thursday, June 22nd. They set a “buy” rating and a $79.00 target price for the company. Oppenheimer Holdings, Inc. assumed coverage on Woodward in a research note on Friday, July 14th. They set an “outperform” rating and a $82.00 target price for the company. Zacks Investment Research upgraded Woodward from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Cowen and Company restated 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. Finally, BidaskClub downgraded Woodward from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $73.89.
In other news, Director Paul Donovan sold 5,700 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $70.55, for a total transaction of $402,135.00. Following the transaction, the director now owns 39,052 shares in the company, valued at approximately $2,755,118.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert F. Weber, Jr. sold 7,500 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $66.49, for a total transaction of $498,675.00. Following the transaction, the chief financial officer now owns 34,053 shares in the company, valued at approximately $2,264,183.97. The disclosure for this sale can be found here. Insiders own 5.93% of the company’s stock.
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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