Bank of New York Mellon Corp Sells 88,256 Shares of Woodward, Inc. $WWD

Bank of New York Mellon Corp cut its holdings in shares of Woodward, Inc. (NASDAQ:WWD) by 13.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 550,883 shares of the technology company’s stock after selling 88,256 shares during the period. Bank of New York Mellon Corp’s holdings in Woodward were worth $139,214,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Woodward during the 2nd quarter worth approximately $201,555,000. Jennison Associates LLC bought a new stake in shares of Woodward during the 2nd quarter worth $28,208,000. Balyasny Asset Management L.P. bought a new stake in Woodward in the second quarter worth about $27,617,000. Gilder Gagnon Howe & Co. LLC purchased a new position in Woodward in the second quarter valued at about $11,778,000. Finally, Acadian Asset Management LLC lifted its stake in Woodward by 813.9% in the second quarter. Acadian Asset Management LLC now owns 46,088 shares of the technology company’s stock valued at $11,290,000 after purchasing an additional 41,045 shares during the last quarter. Institutional investors own 81.18% of the company’s stock.

Insider Activity at Woodward

In other Woodward news, Director Gregg C. Sengstack sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $300.76, for a total transaction of $2,105,320.00. Following the completion of the transaction, the director owned 9,610 shares of the company’s stock, valued at $2,890,303.60. This represents a 42.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Thomas G. Cromwell sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $297.88, for a total value of $1,489,400.00. Following the transaction, the chief operating officer owned 15,135 shares of the company’s stock, valued at approximately $4,508,413.80. This represents a 24.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 40,000 shares of company stock worth $11,908,210 in the last 90 days. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen upgraded Woodward from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 10th. Jefferies Financial Group boosted their price objective on shares of Woodward from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Woodward from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Truist Financial set a $366.00 price objective on Woodward in a report on Friday, January 9th. Finally, Zacks Research upgraded shares of Woodward from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $323.89.

Woodward Trading Down 0.5%

Shares of WWD stock opened at $317.84 on Friday. The stock has a market capitalization of $19.07 billion, a PE ratio of 44.21, a P/E/G ratio of 2.67 and a beta of 1.02. Woodward, Inc. has a 1-year low of $146.82 and a 1-year high of $339.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.08 and a quick ratio of 1.36. The business has a 50-day moving average of $310.89 and a 200 day moving average of $273.00.

Woodward (NASDAQ:WWD) last issued its earnings results on Monday, November 24th. The technology company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.83 by $0.26. The company had revenue of $995.26 million for the quarter, compared to the consensus estimate of $943.15 million. Woodward had a net margin of 12.39% and a return on equity of 17.68%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. Woodward has set its FY 2026 guidance at 7.500-8.000 EPS. As a group, sell-side analysts anticipate that Woodward, Inc. will post 6.15 earnings per share for the current year.

Woodward declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 20th that permits the company to buyback $1.80 billion in shares. This buyback authorization permits the technology company to reacquire up to 11.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Woodward Profile

Woodward, Inc (NASDAQ: WWD) is a global leader in the design, manufacture and service of control systems and components for the aerospace and industrial markets. Founded in 1870 and headquartered in Fort Collins, Colorado, the company specializes in motion control, fuel systems, actuation, and digital control solutions. Its offerings enable precision management of flow, pressure and motion in critical applications ranging from aircraft engines and power turbines to hydraulic systems.

Woodward’s product portfolio is organized into two primary segments: Aerospace and Industrial.