Wells Fargo & Company MN Trims Stake in Woodward, Inc. (NASDAQ:WWD)
Wells Fargo & Company MN trimmed its holdings in shares of Woodward, Inc. (NASDAQ:WWD) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 323,204 shares of the technology company’s stock after selling 26,908 shares during the quarter. Wells Fargo & Company MN owned about 0.52% of Woodward worth $25,908,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. AdvisorNet Financial Inc boosted its holdings in shares of Woodward by 109.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 398 shares of the technology company’s stock worth $31,000 after purchasing an additional 208 shares in the last quarter. WASHINGTON TRUST Co bought a new stake in shares of Woodward in the 2nd quarter valued at about $43,000. Captrust Financial Advisors bought a new stake in shares of Woodward in the 2nd quarter valued at about $53,000. Harbor Investment Advisory LLC lifted its stake in shares of Woodward by 94.8% in the 3rd quarter. Harbor Investment Advisory LLC now owns 744 shares of the technology company’s stock valued at $60,000 after acquiring an additional 362 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in shares of Woodward by 6,200.0% in the 2nd quarter. Glenmede Trust Co. NA now owns 2,331 shares of the technology company’s stock valued at $180,000 after acquiring an additional 2,294 shares during the last quarter. Institutional investors and hedge funds own 81.02% of the company’s stock.
WWD stock opened at $108.64 on Friday. Woodward, Inc. has a fifty-two week low of $46.51 and a fifty-two week high of $129.06. The business’s 50 day moving average price is $88.86 and its two-hundred day moving average price is $79.40. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.36 and a current ratio of 2.31. The company has a market capitalization of $6.78 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 1.84 and a beta of 1.51.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be paid a $0.081 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.30%. Woodward’s payout ratio is currently 6.56%.
In related news, CEO Thomas A. Gendron sold 142,800 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $87.18, for a total value of $12,449,304.00. Following the sale, the chief executive officer now owns 17,946 shares in the company, valued at approximately $1,564,532.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher Fawzy sold 9,150 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $85.25, for a total value of $780,037.50. Insiders sold a total of 174,950 shares of company stock worth $15,172,037 in the last 90 days. 4.20% of the stock is currently owned by company insiders.
A number of equities research analysts have recently weighed in on WWD shares. Barclays boosted their target price on Woodward from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, September 10th. BidaskClub raised Woodward from a “hold” rating to a “buy” rating in a research report on Wednesday, October 7th. Truist upped their price target on Woodward from $51.00 to $70.00 in a research report on Friday. Oppenheimer reaffirmed a “hold” rating on shares of Woodward in a research report on Friday, August 7th. Finally, Credit Suisse Group upped their price target on Woodward from $100.00 to $121.00 and gave the company an “outperform” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $92.13.
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 offers 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, servo controls, and motors and sensors for aircraft that are used on commercial and private aircraft and rotorcraft, as well as on military fixed-wing aircraft and rotorcraft, guided weapons, and other defense systems.
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