Adage Capital Partners GP L.L.C. Invests $16.63 Million in Woodward, Inc. (NASDAQ:WWD)

Adage Capital Partners GP L.L.C. bought a new position in Woodward, Inc. (NASDAQ:WWDFree Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 133,806 shares of the technology company’s stock, valued at approximately $16,627,000. Adage Capital Partners GP L.L.C. owned 0.22% of Woodward at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quarry LP purchased a new position in Woodward in the second quarter valued at about $28,000. BluePath Capital Management LLC purchased a new position in Woodward in the third quarter valued at about $32,000. KB Financial Partners LLC purchased a new position in Woodward in the first quarter valued at about $30,000. Quadrant Capital Group LLC boosted its holdings in Woodward by 336.9% in the second quarter. Quadrant Capital Group LLC now owns 450 shares of the technology company’s stock valued at $54,000 after purchasing an additional 347 shares during the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in Woodward in the second quarter valued at about $59,000. Hedge funds and other institutional investors own 79.63% of the company’s stock.

Wall Street Analysts Forecast Growth

WWD has been the topic of several research reports. UBS Group upped their price objective on Woodward from $168.00 to $177.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Truist Financial upped their price objective on Woodward from $136.00 to $143.00 and gave the company a “hold” rating in a research note on Tuesday, January 30th. Wells Fargo & Company upped their price objective on Woodward from $128.00 to $147.00 and gave the company an “equal weight” rating in a research note on Friday, November 17th. StockNews.com cut Woodward from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group raised Woodward from a “sell” rating to a “buy” rating and raised their price target for the stock from $105.00 to $153.00 in a report on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $151.89.

Read Our Latest Stock Analysis on Woodward

Insider Activity

In other news, Director John D. Cohn sold 1,500 shares of Woodward stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $138.86, for a total transaction of $208,290.00. Following the transaction, the director now owns 20,531 shares in the company, valued at $2,850,934.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John D. Cohn sold 1,500 shares of Woodward stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $138.86, for a total transaction of $208,290.00. Following the transaction, the director now owns 20,531 shares in the company, valued at $2,850,934.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Thomas G. Cromwell sold 38,700 shares of Woodward stock in a transaction on Friday, March 1st. The shares were sold at an average price of $141.98, for a total value of $5,494,626.00. Following the sale, the chief operating officer now directly owns 11,833 shares of the company’s stock, valued at approximately $1,680,049.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,200 shares of company stock worth $7,242,916. 1.12% of the stock is owned by corporate insiders.

Woodward Stock Up 0.7 %

Shares of Woodward stock opened at $149.42 on Friday. The business’s fifty day moving average price is $138.06 and its two-hundred day moving average price is $132.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.65 and a quick ratio of 1.69. The company has a market capitalization of $9.01 billion, a P/E ratio of 31.52, a PEG ratio of 1.81 and a beta of 1.35. Woodward, Inc. has a 1-year low of $88.30 and a 1-year high of $150.00.

Woodward (NASDAQ:WWDGet Free Report) last issued its quarterly earnings results on Monday, January 29th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.33. The company had revenue of $786.73 million for the quarter, compared to analysts’ expectations of $750.13 million. Woodward had a return on equity of 15.26% and a net margin of 9.50%. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. During the same period last year, the firm earned $0.49 EPS. As a group, research analysts forecast that Woodward, Inc. will post 5.27 EPS for the current year.

Woodward Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Investors of record on Tuesday, February 20th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Woodward’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, February 16th. Woodward’s payout ratio is presently 21.10%.

Woodward Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Woodward (NASDAQ:WWD)

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