Quarry LP Takes Position in Woodward, Inc. (NASDAQ:WWD)

Quarry LP purchased a new position in shares of Woodward, Inc. (NASDAQ:WWD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 980 shares of the technology company’s stock, valued at approximately $171,000.

Other hedge funds have also bought and sold shares of the company. GSA Capital Partners LLP lifted its holdings in Woodward by 214.0% during the fourth quarter. GSA Capital Partners LLP now owns 20,654 shares of the technology company’s stock worth $2,812,000 after acquiring an additional 14,077 shares during the period. Bank of Nova Scotia purchased a new stake in Woodward in the fourth quarter worth $1,416,000. Acadian Asset Management LLC increased its position in Woodward by 743.5% in the first quarter. Acadian Asset Management LLC now owns 223,639 shares of the technology company’s stock worth $34,452,000 after buying an additional 197,125 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Woodward in the first quarter worth $3,962,000. Finally, Van ECK Associates Corp increased its position in Woodward by 36.5% in the first quarter. Van ECK Associates Corp now owns 20,216 shares of the technology company’s stock worth $3,116,000 after buying an additional 5,407 shares during the last quarter. 81.18% of the stock is currently owned by institutional investors.

Woodward Price Performance

Woodward stock opened at $171.51 on Tuesday. Woodward, Inc. has a 52 week low of $119.03 and a 52 week high of $188.35. The business has a 50-day simple moving average of $163.48 and a 200 day simple moving average of $167.20. The company has a quick ratio of 1.29, a current ratio of 1.96 and a debt-to-equity ratio of 0.26. The stock has a market cap of $10.44 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.79 and a beta of 1.37.

Woodward (NASDAQ:WWD) last posted its earnings results on Monday, July 29th. The technology company reported $1.63 EPS for the quarter, topping 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 analysts’ expectations of $853.29 million. During the same period in the previous year, the business earned $1.37 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. On average, research analysts forecast that Woodward, Inc. will post 5.91 earnings per share for the current fiscal year.

Woodward Dividend Announcement

The firm also recently announced 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. This represents a $1.00 annualized dividend and a yield of 0.58%. The ex-dividend date is Thursday, November 21st. Woodward’s payout ratio is 17.48%.

Analyst Ratings Changes

A number of research firms have issued reports on WWD. Deutsche Bank Aktiengesellschaft downgraded Woodward from a “buy” rating to a “hold” rating and decreased their target price for the stock from $197.00 to $158.00 in a research report on Wednesday, July 31st. Truist Financial raised Woodward from a “hold” rating to a “buy” rating and raised their target price for the stock from $152.00 to $187.00 in a research report on Wednesday, August 21st. TD Cowen decreased their target price on Woodward from $200.00 to $186.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. 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. Finally, StockNews.com cut Woodward from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Woodward has a consensus rating of “Moderate Buy” and a consensus price target of $177.11.

Woodward 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.