Red Spruce Capital LLC Purchases 1,601 Shares of Woodward, Inc. (NASDAQ:WWD)

Red Spruce Capital LLC raised its position in shares of Woodward, Inc. (NASDAQ:WWD) by 9.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,932 shares of the technology company’s stock after purchasing an additional 1,601 shares during the period. Woodward makes up approximately 1.5% of Red Spruce Capital LLC’s holdings, making the stock its 22nd largest holding. Red Spruce Capital LLC’s holdings in Woodward were worth $3,247,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fidelis Capital Partners LLC bought a new position in shares of Woodward during the 1st quarter valued at $31,000. Mather Group LLC. purchased a new stake in Woodward during the first quarter valued at about $34,000. AlphaCentric Advisors LLC bought a new position in shares of Woodward during the second quarter valued at about $37,000. Daiwa Securities Group Inc. bought a new position in shares of Woodward during the first quarter valued at about $46,000. Finally, Jones Financial Companies Lllp increased its holdings in shares of Woodward by 4,177.8% in the fourth quarter. Jones Financial Companies Lllp now owns 385 shares of the technology company’s stock worth $52,000 after buying an additional 376 shares during the period. 81.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WWD has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Woodward from $158.00 to $162.00 and gave the company a “hold” rating in a report on Thursday. TD Cowen reissued a “hold” rating and set a $160.00 price objective (down previously from $186.00) on shares of Woodward in a research note on Friday. StockNews.com raised shares of Woodward from a “hold” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group lowered their price target 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 raised their price target for the stock 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $174.67.

Woodward Trading Up 0.8 %

Woodward stock traded up $1.35 during mid-day trading on Friday, reaching $167.62. 535,905 shares of the company traded hands, compared to its average volume of 424,581. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.96 and a quick ratio of 1.29. 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 $10.21 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 1.78 and a beta of 1.37. The firm’s 50 day moving average price is $162.51 and its 200 day moving average price is $167.51.

Woodward (NASDAQ:WWD) last announced its quarterly earnings results 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 net margin of 11.47% and a return on equity of 17.16%. The company had revenue of $847.69 million for the quarter, compared to analysts’ expectations of $853.29 million. During the same quarter in the previous year, the company earned $1.37 earnings per share. Woodward’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts anticipate that Woodward, Inc. will post 5.91 earnings per share for the current fiscal year.

Woodward Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, November 21st. 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.