Edgestream Partners L.P. Has $1.44 Million Stock Position in Woodward, Inc. (NASDAQ:WWD)

Edgestream Partners L.P. raised its position in Woodward, Inc. (NASDAQ:WWD) by 22.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,234 shares of the technology company’s stock after acquiring an additional 1,510 shares during the period. Edgestream Partners L.P.’s holdings in Woodward were worth $1,436,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new position in shares of Woodward in the 1st quarter worth approximately $31,000. Principal Securities Inc. acquired a new stake in Woodward during the 4th quarter valued at $34,000. Mather Group LLC. acquired a new stake in Woodward during the 1st quarter valued at $34,000. AlphaCentric Advisors LLC acquired a new stake in Woodward during the 2nd quarter valued at $37,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Woodward during the 1st quarter valued at $46,000. Institutional investors and hedge funds own 81.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on Woodward from $228.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Truist Financial raised Woodward from a “hold” rating to a “buy” rating and raised their price target for the company from $152.00 to $187.00 in a report on Wednesday, August 21st. TD Cowen decreased their price objective on Woodward from $200.00 to $186.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Jefferies Financial Group upgraded Woodward from a “hold” rating to a “buy” rating and increased their price objective for the company from $170.00 to $190.00 in a research report on Wednesday, July 31st. Finally, StockNews.com lowered Woodward from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Woodward has a consensus rating of “Moderate Buy” and a consensus price target of $177.11.

Woodward Price Performance

Shares of WWD opened at $168.04 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.96. The stock has a 50 day simple moving average of $164.67 and a 200 day simple moving average of $165.94. Woodward, Inc. has a 52-week low of $119.03 and a 52-week high of $188.35. The firm has a market capitalization of $10.03 billion, a PE ratio of 29.38, a P/E/G ratio of 1.71 and a beta of 1.37.

Woodward (NASDAQ:WWD) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.11. Woodward had a return on equity of 17.16% and a net margin of 11.47%. The business had revenue of $847.69 million during the quarter, compared to analyst estimates of $853.29 million. During the same period in the previous year, the firm earned $1.37 EPS. Woodward’s quarterly revenue was up 5.9% compared to the same quarter last year. Sell-side analysts predict that Woodward, Inc. will post 5.91 EPS for the current fiscal year.

Woodward Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.60%. The ex-dividend date is Thursday, November 21st. Woodward’s payout ratio is 17.48%.

About Woodward

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates in two segments, Aerospace and Industrial. The Aerospace segment provides fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servocontrols, motors, and sensors for aircraft.