Woodward, Inc. (NASDAQ:WWD) Stock Has Average Price Target of $418.36

Shares of Woodward, Inc. (NASDAQ:WWD) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $418.36.

A number of equities research analysts recently weighed in on the stock. Melius Research lowered shares of Woodward from a “buy” rating to a “hold” rating and set a $388.00 price objective for the company. in a report on Monday, September 14th. Wells Fargo & Company lowered their price objective on shares of Woodward from $440.00 to $430.00 and set an “overweight” rating for the company in a research report on Wednesday, September 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Woodward in a research report on Thursday, October 15th. Jefferies Financial Group dropped their target price on shares of Woodward from $450.00 to $420.00 and set a “buy” rating on the stock in a research note on Friday, October 2nd. Finally, Guggenheim assumed coverage on shares of Woodward in a research report on Monday, September 14th. They set a “buy” rating and a $404.00 target price on the stock.

Insider Activity

In other Woodward news, EVP Shawn McLevige sold 2,150 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $356.82, for a total transaction of $767,163.00. Following the transaction, the executive vice president directly owned 3,098 shares in the company, valued at $1,105,428.36. This trade represents a 40.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On Woodward

Several hedge funds have recently made changes to their positions in WWD. Bard Associates Inc. purchased a new position in shares of Woodward during the second quarter valued at $28,000. Washington Trust Advisors Inc. bought a new stake in shares of Woodward in the second quarter valued at about $33,000. Pension & Wealth Management Advisors Inc. purchased a new stake in Woodward in the third quarter worth about $34,000. Elevation Wealth Partners LLC lifted its stake in Woodward by 550.0% in the second quarter. Elevation Wealth Partners LLC now owns 91 shares of the technology company’s stock worth $39,000 after acquiring an additional 77 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Woodward by 82.5% in the first quarter. Parallel Advisors LLC now owns 115 shares of the technology company’s stock worth $41,000 after acquiring an additional 52 shares during the period. 81.18% of the stock is currently owned by hedge funds and other institutional investors.

Woodward Trading Down 0.5%

WWD stock opened at $304.00 on Wednesday. The business’s fifty day simple moving average is $331.13 and its two-hundred day simple moving average is $364.37. Woodward has a twelve month low of $253.52 and a twelve month high of $450.92.

Woodward (NASDAQ:WWD) last released its earnings results on Wednesday, July 29th. The technology company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.08. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.76 earnings per share. Analysts forecast that Woodward will post 9.46 EPS for the current year.

Woodward Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 19th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Thursday, November 19th.

About Woodward

Woodward, Inc is an independent designer, manufacturer and service provider of control systems and components for the aerospace and industrial markets. The company develops technologies that help manage the flow of fuel, air, and other fluids, as well as mechanical and electrical energy, in engines and other power-generation systems.

Its aerospace products include fuel pumps and metering systems, engine controls, actuators, air valves, and electric power-management systems for commercial aircraft, business aviation, military aircraft, helicopters, and space applications.