Zurcher Kantonalbank Zurich Cantonalbank raised its position in Woodward, Inc. (NASDAQ:WWD) by 9.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,190 shares of the technology company’s stock after acquiring an additional 190 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Woodward were worth $148,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Diversified Trust Co acquired a new stake in shares of Woodward during the 2nd quarter worth about $213,000. PNC Financial Services Group Inc. lifted its stake in shares of Woodward by 66.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,178 shares of the technology company’s stock worth $217,000 after buying an additional 1,266 shares during the last quarter. World Asset Management Inc lifted its stake in shares of Woodward by 0.9% during the 1st quarter. World Asset Management Inc now owns 3,371 shares of the technology company’s stock worth $229,000 after buying an additional 30 shares during the last quarter. HighTower Advisors LLC acquired a new stake in shares of Woodward during the 1st quarter worth about $234,000. Finally, ING Groep NV acquired a new stake in shares of Woodward during the 2nd quarter worth about $453,000. Hedge funds and other institutional investors own 71.23% of the company’s stock.
A number of analysts have recently issued reports on WWD shares. CIBC started coverage on shares of Woodward in a research note on Friday, July 14th. They set an “outperform” rating and a $82.00 target price for the company. Oppenheimer Holdings, Inc. started coverage on shares of Woodward in a research note on Friday, July 14th. They set an “outperform” rating and a $82.00 target price for the company. Wood & Company started coverage on shares of Woodward in a research note on Thursday, July 13th. They set an “outperform” rating and a $82.00 target price for the company. BidaskClub upgraded shares of Woodward from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Finally, CL King started coverage on shares of Woodward in a research note on Thursday, June 22nd. They set a “buy” rating and a $79.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Woodward currently has a consensus rating of “Hold” and an average target price of $73.89.
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In other news, Director John A. Halbrook sold 8,700 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $70.02, for a total value of $609,174.00. Following the sale, the director now directly owns 350,521 shares of the company’s stock, valued at $24,543,480.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Donovan sold 5,700 shares of the stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $70.55, for a total transaction of $402,135.00. Following the completion of the sale, the director now directly owns 39,052 shares in the company, valued at $2,755,118.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,200 shares of company stock worth $1,138,389. Insiders own 5.93% of the company’s stock.
Shares of Woodward, Inc. (NASDAQ WWD) opened at 73.97 on Wednesday. The stock’s 50 day moving average is $69.89 and its 200-day moving average is $68.72. The firm has a market cap of $4.54 billion, a PE ratio of 23.26 and a beta of 1.21. Woodward, Inc. has a 1-year low of $57.09 and a 1-year high of $74.11.
Woodward (NASDAQ:WWD) last released its quarterly earnings data on Monday, July 24th. The technology company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.09. The business had revenue of $548.62 million for the quarter, compared to the consensus estimate of $530.89 million. Woodward had a net margin of 9.67% and a return on equity of 16.12%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. Analysts expect that Woodward, Inc. will post $3.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Tuesday, August 22nd were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Friday, August 18th. Woodward’s payout ratio is 15.77%.
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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