Pinnbrook Capital Management LP Cuts Stock Holdings in Woodward, Inc. $WWD

Pinnbrook Capital Management LP lowered its stake in shares of Woodward, Inc. (NASDAQ:WWD) by 50.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,490 shares of the technology company’s stock after selling 32,504 shares during the quarter. Pinnbrook Capital Management LP’s holdings in Woodward were worth $7,718,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WWD. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Woodward by 189.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171 shares of the technology company’s stock worth $31,000 after purchasing an additional 112 shares during the last quarter. TCTC Holdings LLC raised its position in Woodward by 116.7% in the first quarter. TCTC Holdings LLC now owns 182 shares of the technology company’s stock worth $33,000 after acquiring an additional 98 shares during the period. Virtus Advisers LLC bought a new stake in shares of Woodward in the first quarter valued at $38,000. MassMutual Private Wealth & Trust FSB grew its stake in Woodward by 32.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 220 shares of the technology company’s stock valued at $54,000 after buying an additional 54 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Woodward by 2,218.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 255 shares of the technology company’s stock worth $62,000 after purchasing an additional 244 shares during the period. 81.18% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Woodward

In other Woodward news, Director John D. Cohn sold 1,750 shares of Woodward stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $244.32, for a total transaction of $427,560.00. Following the transaction, the director owned 20,963 shares of the company’s stock, valued at $5,121,680.16. The trade was a 7.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is owned by company insiders.

Woodward Stock Performance

WWD opened at $260.44 on Friday. The company’s 50 day moving average is $252.86 and its 200 day moving average is $241.73. The company has a current ratio of 2.04, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. The company has a market cap of $15.62 billion, a price-to-earnings ratio of 41.21, a PEG ratio of 2.61 and a beta of 1.26. Woodward, Inc. has a 12-month low of $146.82 and a 12-month high of $274.50.

Woodward Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, November 20th. Woodward’s dividend payout ratio (DPR) is currently 17.72%.

Analyst Upgrades and Downgrades

WWD has been the subject of several research reports. Zacks Research lowered shares of Woodward from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Northcoast Research upgraded shares of Woodward to a “hold” rating in a research note on Friday, July 25th. Alembic Global Advisors upgraded shares of Woodward from a “neutral” rating to an “overweight” rating and set a $281.00 price target on the stock in a research note on Wednesday, August 20th. UBS Group raised their price target on shares of Woodward from $283.00 to $299.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of Woodward from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $268.67.

Woodward Company Profile

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.