Associated Banc Corp Increases Stake in Woodward, Inc. (NASDAQ:WWD)

Associated Banc Corp raised its stake in shares of Woodward, Inc. (NASDAQ:WWD) by 6.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,510 shares of the technology company’s stock after purchasing an additional 3,836 shares during the quarter. Associated Banc Corp owned about 0.11% of Woodward worth $11,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Acadian Asset Management LLC increased its holdings in Woodward by 94.2% in the 2nd quarter. Acadian Asset Management LLC now owns 434,385 shares of the technology company’s stock worth $75,735,000 after buying an additional 210,746 shares during the period. International Assets Investment Management LLC increased its stake in shares of Woodward by 17,072.3% in the third quarter. International Assets Investment Management LLC now owns 76,760 shares of the technology company’s stock worth $13,165,000 after acquiring an additional 76,313 shares during the period. Sei Investments Co. raised its holdings in shares of Woodward by 13.3% during the second quarter. Sei Investments Co. now owns 634,698 shares of the technology company’s stock worth $110,679,000 after purchasing an additional 74,734 shares during the last quarter. First Western Trust Bank lifted its holdings in shares of Woodward by 359.6% in the 3rd quarter. First Western Trust Bank now owns 70,023 shares of the technology company’s stock valued at $12,010,000 after buying an additional 54,787 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Woodward by 136.3% in the second quarter. American Century Companies Inc. now owns 68,877 shares of the technology company’s stock worth $12,011,000 after buying an additional 39,732 shares during the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

Woodward Trading Up 1.4 %

WWD traded up $2.43 during mid-day trading on Monday, hitting $178.48. 44,027 shares of the stock were exchanged, compared to its average volume of 422,665. The firm’s fifty day moving average is $167.82 and its two-hundred day moving average is $170.87. Woodward, Inc. has a 1-year low of $129.46 and a 1-year high of $188.35. The company has a market cap of $10.65 billion, a PE ratio of 29.44, a PEG 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 Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Thursday, November 21st. Woodward’s payout ratio is 16.72%.

Analysts Set New Price Targets

Several equities research analysts have commented on WWD shares. TD Cowen restated a “hold” rating and issued a $160.00 price objective (down previously from $186.00) on shares of Woodward in a research report on Friday, October 4th. StockNews.com downgraded Woodward from a “buy” rating to a “hold” rating in a research report 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 on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group raised Woodward from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $170.00 to $190.00 in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Woodward from $158.00 to $162.00 and gave the stock a “hold” rating in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Woodward has a consensus rating of “Hold” and a consensus price target of $174.67.

Insider Activity

In other news, COO Thomas G. Cromwell sold 10,000 shares of Woodward stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $177.65, for a total value of $1,776,500.00. Following the completion of the transaction, the chief operating officer now owns 11,511 shares in the company, valued at approximately $2,044,929.15. This trade represents a 46.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 27,913 shares of company stock valued at $4,907,304. 1.12% of the stock is currently owned by company insiders.

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.