Woodward (NASDAQ:WWD) Hits New 52-Week High on Analyst Upgrade

Woodward, Inc. (NASDAQ:WWD)’s share price reached 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 changing hands. The stock had previously closed at $179.29.

A number of other equities analysts have also recently issued reports on the company. StockNews.com cut Woodward from a “buy” rating to a “hold” rating in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target 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 restated a “buy” rating and issued a $226.00 price objective (up from $187.00) on shares of Woodward in a report on Tuesday. TD Cowen reaffirmed a “hold” rating and set a $160.00 target price (down previously from $186.00) on shares of Woodward in a report on Friday, October 4th. Finally, Jefferies Financial Group raised shares of Woodward from a “hold” rating to a “buy” rating and boosted their price target for the stock from $170.00 to $190.00 in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $184.67.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Woodward

Hedge funds have recently bought and sold shares of the business. CIBC Asset Management Inc increased its position in shares of Woodward by 3.5% during the third quarter. CIBC Asset Management Inc now owns 1,758 shares of the technology company’s stock valued at $302,000 after acquiring an additional 59 shares in the last quarter. Park Avenue Securities LLC grew 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 stake in Woodward by 3.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,268 shares of the technology company’s stock valued at $570,000 after buying an additional 95 shares during the last quarter. Commerce Bank grew its holdings in shares of Woodward by 2.1% in the third quarter. Commerce Bank now owns 4,624 shares of the technology company’s stock worth $793,000 after acquiring an additional 95 shares during the period. Finally, M&T Bank Corp increased its position in Woodward by 0.4% during the third quarter. M&T Bank Corp now owns 28,734 shares of the technology company’s stock valued at $4,928,000 after acquiring an additional 108 shares during the last quarter. Institutional investors own 81.18% of the company’s stock.

Woodward Stock Performance

The company has a market cap of $11.28 billion, a P/E ratio of 32.72, a P/E/G ratio of 1.87 and a beta of 1.38. 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 business has a fifty day simple moving average of $168.14 and a two-hundred day simple moving average of $170.87.

Woodward Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Thursday, November 21st. Woodward’s payout ratio 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.