Bank of Montreal Can lowered its position in Woodward, Inc. (NASDAQ:WWD) by 21.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,484 shares of the technology company’s stock after selling 4,430 shares during the period. Bank of Montreal Can’s holdings in Woodward were worth $1,114,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sawgrass Asset Management LLC bought a new position in shares of Woodward during the first quarter valued at approximately $206,000. PNC Financial Services Group Inc. boosted its position in shares of Woodward by 66.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,178 shares of the technology company’s stock valued at $217,000 after buying an additional 1,266 shares during the period. World Asset Management Inc boosted its position in shares of Woodward by 0.9% in the first quarter. World Asset Management Inc now owns 3,371 shares of the technology company’s stock valued at $229,000 after buying an additional 30 shares during the period. HighTower Advisors LLC bought a new position in shares of Woodward during the first quarter valued at approximately $234,000. Finally, First National Bank of Hutchinson bought a new position in shares of Woodward during the first quarter valued at approximately $263,000. Institutional investors and hedge funds own 69.44% of the company’s stock.
Woodward, Inc. (NASDAQ:WWD) traded up 0.97% during mid-day trading on Friday, hitting $67.86. The stock had a trading volume of 325,962 shares. The stock has a market cap of $4.16 billion, a PE ratio of 21.34 and a beta of 1.21. The firm’s 50-day moving average price is $69.14 and its 200-day moving average price is $68.78. Woodward, Inc. has a 1-year low of $57.09 and a 1-year high of $72.97.
Woodward (NASDAQ:WWD) last posted its earnings results on Monday, July 24th. The technology company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.09. The firm had revenue of $548.62 million for the quarter, compared to the consensus estimate of $530.89 million. Woodward had a return on equity of 16.12% and a net margin of 9.67%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.81 earnings per share. On average, equities analysts expect that Woodward, Inc. will post $3.10 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.50 annualized dividend and a dividend yield of 0.74%. Woodward’s dividend payout ratio is currently 15.77%.
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Several brokerages recently commented on WWD. CL King began coverage on Woodward in a research report on Thursday, June 22nd. They set a “buy” rating and a $79.00 price target for the company. Oppenheimer Holdings, Inc. began coverage on Woodward in a research report on Friday, July 14th. They set an “outperform” rating and a $82.00 price target for the company. Zacks Investment Research raised Woodward from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub cut Woodward from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, CIBC began coverage on Woodward in a research report on Friday, July 14th. They set an “outperform” rating and a $82.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $73.89.
In other news, Director John A. Halbrook sold 8,700 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $70.02, for a total value of $609,174.00. Following the transaction, the director now owns 350,521 shares of the company’s stock, valued at $24,543,480.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Paul Donovan sold 5,700 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 39,052 shares in the company, valued at approximately $2,755,118.60. The disclosure for this sale can be found here. Corporate insiders own 5.93% of the company’s stock.
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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