Woodward (NASDAQ:WWD) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Woodward (NASDAQ:WWD) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other brokerages have also issued reports on WWD. Deutsche Bank Aktiengesellschaft increased their target price on shares of Woodward from $158.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, October 3rd. Truist Financial upgraded Woodward from a “hold” rating to a “buy” rating and raised their target price for the company from $152.00 to $187.00 in a research note on Wednesday, August 21st. TD Cowen reaffirmed a “hold” rating and set a $160.00 price target (down from $186.00) on shares of Woodward in a research note on Friday, October 4th. The Goldman Sachs Group cut their price target on Woodward from $228.00 to $201.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Jefferies Financial Group upgraded Woodward from a “hold” rating to a “buy” rating and boosted their price objective for the company from $170.00 to $190.00 in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $174.67.

Woodward Price Performance

Shares of WWD opened at $176.05 on Friday. The firm has a market cap of $10.50 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.87 and a beta of 1.38. Woodward has a 52-week low of $129.46 and a 52-week high of $188.35. The business’s 50 day moving average price is $167.82 and its two-hundred day moving average price is $170.87. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.96.

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. Woodward’s payout ratio is 16.72%.

Insider Activity at Woodward

In other Woodward news, COO Thomas G. Cromwell sold 10,000 shares of Woodward stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $177.65, for a total transaction of $1,776,500.00. Following the transaction, the chief operating officer now owns 11,511 shares of the company’s stock, valued at $2,044,929.15. This trade represents a 46.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 27,913 shares of company stock valued at $4,907,304. 1.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Woodward

Institutional investors have recently modified their holdings of the business. True Wealth Design LLC bought a new position in Woodward during the third quarter valued at about $28,000. Wolff Wiese Magana LLC bought a new position in shares of Woodward during the 3rd quarter valued at approximately $31,000. AlphaCentric Advisors LLC purchased a new stake in shares of Woodward during the 2nd quarter worth approximately $37,000. Capital Performance Advisors LLP bought a new stake in shares of Woodward in the 3rd quarter worth approximately $41,000. Finally, UMB Bank n.a. lifted its stake in Woodward by 101.6% in the third quarter. UMB Bank n.a. now owns 246 shares of the technology company’s stock valued at $42,000 after purchasing an additional 124 shares during the last quarter. 81.18% of the stock is owned by institutional investors.

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.