ProShare Advisors LLC Has $596,000 Stake in Woodward, Inc. (WWD)
ProShare Advisors LLC lessened its stake in shares of Woodward, Inc. (NASDAQ:WWD) by 20.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,821 shares of the technology company’s stock after selling 2,240 shares during the quarter. ProShare Advisors LLC’s holdings in Woodward were worth $596,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Laurion Capital Management LP purchased a new position in Woodward in the second quarter worth $1,581,000. BT Investment Management Ltd purchased a new position in Woodward in the second quarter worth $33,271,000. BlueMountain Capital Management LLC purchased a new position in Woodward in the second quarter worth $663,000. Amalgamated Bank raised its position in Woodward by 5.1% in the second quarter. Amalgamated Bank now owns 7,684 shares of the technology company’s stock worth $519,000 after acquiring an additional 373 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Woodward by 8.3% in the second quarter. Nationwide Fund Advisors now owns 189,396 shares of the technology company’s stock worth $12,799,000 after acquiring an additional 14,550 shares in the last quarter. Institutional investors and hedge funds own 71.23% of the company’s stock.
WWD has been the subject of several research analyst reports. BidaskClub upgraded Woodward from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. CL King initiated coverage on Woodward in a research report on Thursday, June 22nd. They issued a “buy” rating and a $79.00 price objective for the company. CIBC initiated coverage on Woodward in a research report on Friday, July 14th. They issued an “outperform” rating and a $82.00 price objective for the company. Wood & Company reiterated a “buy” rating and issued a $80.00 price objective on shares of Woodward in a research report on Tuesday, July 25th. Finally, Oppenheimer Holdings, Inc. initiated coverage on Woodward in a research report on Friday, July 14th. They issued an “outperform” rating and a $82.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $74.75.
In other news, Director John A. Halbrook sold 8,700 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $70.02, for a total value of $609,174.00. Following the sale, the director now owns 350,521 shares of the company’s stock, valued at approximately $24,543,480.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Halbrook sold 1,800 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $70.60, for a total value of $127,080.00. Following the completion of the sale, the director now directly owns 345,721 shares in the company, valued at approximately $24,407,902.60. The disclosure for this sale can be found here. Insiders sold a total of 16,200 shares of company stock worth $1,138,389 in the last three months. Company insiders own 5.93% of the company’s stock.
Woodward, Inc. (NASDAQ WWD) opened at 79.56 on Thursday. The firm has a 50-day moving average price of $72.23 and a 200 day moving average price of $69.39. The stock has a market cap of $4.88 billion, a PE ratio of 25.02 and a beta of 1.24. Woodward, Inc. has a 52-week low of $57.09 and a 52-week high of $79.73.
Woodward (NASDAQ:WWD) last announced its earnings results on Monday, July 24th. The technology company reported $0.85 earnings per share for the quarter, beating 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 firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. Equities analysts anticipate that Woodward, Inc. will post $3.10 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Friday, November 10th. Woodward’s dividend payout ratio is presently 15.77%.
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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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