Texas Permanent School Fund Decreases Stake in Woodward, Inc. (WWD)

Texas Permanent School Fund reduced its stake in shares of Woodward, Inc. (NASDAQ:WWD) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,035 shares of the technology company’s stock after selling 416 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Woodward worth $2,719,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WWD. Retirement Systems of Alabama increased its position in Woodward by 65.8% in the first quarter. Retirement Systems of Alabama now owns 118,725 shares of the technology company’s stock worth $8,064,000 after buying an additional 47,103 shares during the last quarter. Oakbrook Investments LLC purchased a new position in Woodward during the first quarter worth about $272,000. Swiss National Bank increased its position in Woodward by 0.8% in the first quarter. Swiss National Bank now owns 91,700 shares of the technology company’s stock worth $6,228,000 after buying an additional 700 shares during the last quarter. Sawgrass Asset Management LLC purchased a new position in Woodward during the first quarter worth about $206,000. Finally, Wells Fargo & Company MN increased its stake in shares of Woodward by 17.7% in the first quarter. Wells Fargo & Company MN now owns 188,499 shares of the technology company’s stock worth $12,803,000 after buying an additional 28,404 shares during the last quarter. 71.03% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Woodward (NASDAQ:WWD)

Shares of Woodward, Inc. (WWD) traded up 0.79% during mid-day trading on Friday, reaching $69.14. The company’s stock had a trading volume of 692,641 shares. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 22.08 and a beta of 1.20. Woodward, Inc. has a 1-year low of $53.18 and a 1-year high of $72.28. The company’s 50 day moving average price is $68.17 and its 200-day moving average price is $68.89.

Woodward (NASDAQ:WWD) last released its quarterly earnings results on Wednesday, April 19th. The technology company reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by $0.06. The firm had revenue of $500.40 million during the quarter, compared to analyst estimates of $498.56 million. Woodward had a return on equity of 16.41% and a net margin of 9.74%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. Analysts predict that Woodward, Inc. will post $3.12 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 5th. Shareholders of record on Monday, May 22nd were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Thursday, May 18th. Woodward’s dividend payout ratio (DPR) is presently 15.97%.

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A number of equities research analysts recently weighed in on the company. Stephens started coverage on Woodward in a research report on Thursday, April 13th. They set an “overweight” rating and a $82.00 price objective on the stock. Cowen and Company reiterated a “market perform” rating and issued a $62.00 price target (up from $58.00) on shares of Woodward in a research note on Friday, April 21st. Finally, Zacks Investment Research upgraded Woodward from a “sell” rating to a “hold” rating in a research note on Thursday, February 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $68.67.

In related news, CFO Robert F. Weber, Jr. sold 7,500 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $66.49, for a total value of $498,675.00. Following the transaction, the chief financial officer now directly owns 34,053 shares of the company’s stock, valued at approximately $2,264,183.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary L. Petrovich bought 7,300 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The stock was purchased at an average cost of $68.35 per share, for a total transaction of $498,955.00. Following the completion of the transaction, the director now directly owns 22,204 shares in the company, valued at approximately $1,517,643.40. The disclosure for this purchase can be found here. 5.93% of the stock is currently owned by corporate insiders.

Woodward Company Profile

Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.

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