Woodward (NASDAQ:WWD) Shares Cross Above 50-Day Moving Average – Here’s Why

Woodward, Inc. (NASDAQ:WWD)’s share price passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $327.75 and traded as high as $339.35. Woodward shares last traded at $332.69, with a volume of 966,853 shares changing hands.

Analyst Upgrades and Downgrades

WWD has been the subject of a number of research reports. TD Cowen reduced their price target on shares of Woodward from $420.00 to $380.00 and set a “hold” rating for the company in a research report on Friday, October 9th. Wall Street Zen cut Woodward from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research cut Woodward from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Jefferies Financial Group dropped their price objective on Woodward from $450.00 to $420.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. Finally, Guggenheim began coverage on Woodward in a report on Monday, September 14th. They set a “buy” rating and a $404.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $413.82.

Woodward Stock Up 4.1%

The company has a current ratio of 1.65, a quick ratio of 1.14 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average price of $327.75 and a 200-day moving average price of $364.10. The firm has a market cap of $19.65 billion, a price-to-earnings ratio of 37.01, a P/E/G ratio of 1.67 and a beta of 0.91.

Woodward Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Thursday, November 19th. Woodward’s dividend payout ratio (DPR) is 14.24%.

Hedge Funds Weigh In On Woodward

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bard Associates Inc. acquired a new stake in shares of Woodward in the second quarter valued at approximately $28,000. Washington Trust Advisors Inc. purchased a new position in shares of Woodward during the 2nd quarter worth approximately $33,000. Pension & Wealth Management Advisors Inc. purchased a new position in shares of Woodward during the 3rd quarter worth approximately $34,000. Elevation Wealth Partners LLC raised its position in shares of Woodward by 550.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 91 shares of the technology company’s stock worth $39,000 after purchasing an additional 77 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Woodward by 82.5% during the 1st quarter. Parallel Advisors LLC now owns 115 shares of the technology company’s stock worth $41,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 81.18% of the company’s stock.

Woodward Company Profile

Woodward, Inc is an independent designer, manufacturer and service provider of control systems and components for the aerospace and industrial markets. The company develops technologies that help manage the flow of fuel, air, and other fluids, as well as mechanical and electrical energy, in engines and other power-generation systems.

Its aerospace products include fuel pumps and metering systems, engine controls, actuators, air valves, and electric power-management systems for commercial aircraft, business aviation, military aircraft, helicopters, and space applications.