Envestnet Asset Management Inc. Raises Stock Position in Woodward, Inc. (NASDAQ:WWD)

Envestnet Asset Management Inc. increased its holdings in shares of Woodward, Inc. (NASDAQ:WWD) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 128,116 shares of the technology company’s stock after purchasing an additional 3,122 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of Woodward worth $22,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WWD. Norges Bank purchased a new position in shares of Woodward during the fourth quarter worth $84,157,000. Acadian Asset Management LLC raised its holdings in shares of Woodward by 94.2% during the second quarter. Acadian Asset Management LLC now owns 434,385 shares of the technology company’s stock worth $75,735,000 after purchasing an additional 210,746 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Woodward by 12.3% during the first quarter. Earnest Partners LLC now owns 1,345,438 shares of the technology company’s stock worth $207,359,000 after purchasing an additional 147,856 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Woodward by 37.6% during the fourth quarter. Sei Investments Co. now owns 524,683 shares of the technology company’s stock worth $71,425,000 after purchasing an additional 143,410 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Woodward by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,835,915 shares of the technology company’s stock valued at $899,431,000 after buying an additional 77,654 shares in the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Jefferies Financial Group raised shares of Woodward from a “hold” rating to a “buy” rating and lifted their price objective for the company from $170.00 to $190.00 in a report on Wednesday, July 31st. StockNews.com cut shares of Woodward from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Deutsche Bank Aktiengesellschaft cut shares of Woodward from a “buy” rating to a “hold” rating and cut their price objective for the company from $197.00 to $158.00 in a report on Wednesday, July 31st. The Goldman Sachs Group cut their price objective on shares of Woodward from $228.00 to $201.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Truist Financial raised shares of Woodward from a “hold” rating to a “buy” rating and lifted their price objective for the company from $152.00 to $187.00 in a report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.11.

Woodward Stock Up 0.2 %

Shares of NASDAQ WWD opened at $168.04 on Monday. The company’s 50-day simple moving average is $164.67 and its 200-day simple moving average is $166.22. Woodward, Inc. has a 52-week low of $119.03 and a 52-week high of $188.35. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.71 and a beta of 1.37. The company has a quick ratio of 1.29, a current ratio of 1.96 and a debt-to-equity ratio of 0.26.

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

Woodward Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.60%. Woodward’s payout ratio is presently 17.48%.

Woodward Company Profile

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.