Woodward (NASDAQ:WWD) Stock Gets Price Target Cut from Royal Bank Of Canada

Woodward (NASDAQ:WWD) had its target price lowered by Royal Bank Of Canada from $430.00 to $380.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also weighed in on the company. Wall Street Zen lowered Woodward from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Jefferies Financial Group decreased their target price on Woodward from $450.00 to $420.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. TD Cowen lowered their price target on Woodward from $420.00 to $380.00 and set a “hold” rating for the company in a report on Friday, October 9th. Wells Fargo & Company dropped their price target on shares of Woodward from $440.00 to $430.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 30th. Finally, Truist Financial increased their price target on shares of Woodward from $415.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Woodward has an average rating of “Moderate Buy” and a consensus target price of $413.82.

Woodward Stock Down 3.3%

Woodward stock opened at $304.65 on Wednesday. Woodward has a 1-year low of $253.52 and a 1-year high of $450.92. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.65 and a quick ratio of 1.14. The stock has a market cap of $17.99 billion, a PE ratio of 33.89, a P/E/G ratio of 1.64 and a beta of 0.86. The stock’s fifty day moving average is $328.24 and its two-hundred day moving average is $364.15.

Woodward (NASDAQ:WWD) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Woodward had a return on equity of 21.89% and a net margin of 13.17%. Woodward’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.76 EPS. On average, sell-side analysts expect that Woodward will post 9.46 EPS for the current fiscal year.

Woodward Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, November 19th. Woodward’s dividend payout ratio is currently 14.24%.

Institutional Trading of Woodward

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Woodward in the 2nd quarter valued at approximately $2,984,684,000. Sei Investments Co. increased its holdings in shares of Woodward by 12.5% in the first quarter. Sei Investments Co. now owns 904,404 shares of the technology company’s stock valued at $323,705,000 after purchasing an additional 100,465 shares during the period. Bank of America Corp DE acquired a new position in shares of Woodward in the second quarter valued at approximately $303,698,000. Findlay Park Partners LLP purchased a new stake in shares of Woodward during the second quarter worth approximately $231,958,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Woodward during the second quarter worth approximately $184,322,000. Institutional investors and hedge funds own 81.18% of the company’s stock.

Woodward Company Profile

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.