Woodward (NASDAQ:WWD) Hits New 12-Month High Following Analyst Upgrade

Woodward, Inc. (NASDAQ:WWD) hit a new 52-week high on Tuesday after UBS Group raised their price target on the stock from $209.00 to $228.00. UBS Group currently has a buy rating on the stock. Woodward traded as high as $201.64 and last traded at $196.05, with a volume of 584700 shares traded. The stock had previously closed at $179.29.

A number of other brokerages have also issued reports on WWD. Deutsche Bank Aktiengesellschaft raised their price target on Woodward from $158.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group decreased their target price on Woodward from $228.00 to $201.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. TD Cowen restated a “hold” rating and issued a $160.00 price target (down from $186.00) on shares of Woodward in a report on Friday, October 4th. Jefferies Financial Group raised shares of Woodward from a “hold” rating to a “buy” rating and raised their target price for the stock 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 report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $184.67.

Insider Activity at Woodward

In other Woodward news, COO Thomas G. Cromwell sold 7,913 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $175.13, for a total value of $1,385,803.69. Following the completion of the transaction, the chief operating officer now owns 11,511 shares of the company’s stock, valued at approximately $2,015,921.43. This trade represents a 40.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 27,913 shares of company stock valued at $4,907,304 over the last 90 days. Insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc increased its holdings in Woodward by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,758 shares of the technology company’s stock worth $302,000 after buying an additional 59 shares during the period. Park Avenue Securities LLC increased its stake in shares of Woodward by 2.4% in the second quarter. Park Avenue Securities LLC now owns 3,277 shares of the technology company’s stock worth $571,000 after acquiring an additional 76 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Woodward by 3.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,268 shares of the technology company’s stock worth $570,000 after purchasing an additional 95 shares during the last quarter. Commerce Bank lifted its position in Woodward by 2.1% during the third quarter. Commerce Bank now owns 4,624 shares of the technology company’s stock valued at $793,000 after purchasing an additional 95 shares during the period. Finally, M&T Bank Corp boosted its holdings in Woodward by 0.4% in the third quarter. M&T Bank Corp now owns 28,734 shares of the technology company’s stock valued at $4,928,000 after purchasing an additional 108 shares during the last quarter. 81.18% of the stock is owned by institutional investors and hedge funds.

Woodward Price Performance

The firm has a 50-day simple moving average of $168.14 and a two-hundred day simple moving average of $170.87. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 1.87 and a beta of 1.38. The company has a current ratio of 1.96, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26.

Woodward Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.53%. The ex-dividend date is Thursday, November 21st. Woodward’s dividend payout ratio (DPR) is 16.72%.

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.