Woodward’s (WWD) “Hold” Rating Reaffirmed at TD Cowen

TD Cowen restated their hold rating on shares of Woodward (NASDAQ:WWD) in a report published on Friday, Marketbeat.com reports. The brokerage currently has a $160.00 price target on the technology company’s stock, down from their previous price target of $186.00.

Several other equities research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Woodward from $158.00 to $162.00 and gave the stock a hold rating in a research note on Thursday, October 3rd. Truist Financial upgraded shares of Woodward from a hold rating to a buy rating and boosted their price target for the stock from $152.00 to $187.00 in a research report on Wednesday, August 21st. The Goldman Sachs Group cut their price objective on shares of Woodward from $228.00 to $201.00 and set a buy rating for the company in a report on Wednesday, July 31st. Jefferies Financial Group upgraded Woodward from a hold rating to a buy rating and boosted their target price for the stock from $170.00 to $190.00 in a report on Wednesday, July 31st. Finally, StockNews.com cut Woodward from a buy rating to a hold rating in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $174.67.

Woodward Stock Down 1.1 %

WWD stock opened at $165.71 on Friday. The stock has a market capitalization of $10.09 billion, a P/E ratio of 28.97, a P/E/G ratio of 1.78 and a beta of 1.37. Woodward has a 52 week low of $119.03 and a 52 week high of $188.35. The firm has a 50-day simple moving average of $162.16 and a 200-day simple moving average of $167.89. The company has a quick ratio of 1.29, a current ratio of 1.96 and a debt-to-equity ratio of 0.26.

Woodward (NASDAQ:WWD) last released its earnings results on Monday, July 29th. The technology company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.11. The business had revenue of $847.69 million for the quarter, compared to the consensus estimate of $853.29 million. Woodward had a return on equity of 17.16% and a net margin of 11.47%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 earnings per share. Equities analysts forecast that Woodward will post 5.91 earnings per share for the current fiscal year.

Woodward Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.00 annualized dividend and a yield of 0.60%. Woodward’s payout ratio is 17.48%.

Institutional Trading of Woodward

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Red Spruce Capital LLC boosted its position in shares of Woodward by 9.2% during the 3rd quarter. Red Spruce Capital LLC now owns 18,932 shares of the technology company’s stock worth $3,247,000 after purchasing an additional 1,601 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Woodward during the second quarter worth $1,597,000. Truist Financial Corp grew its stake in shares of Woodward by 26.5% in the second quarter. Truist Financial Corp now owns 1,825 shares of the technology company’s stock valued at $318,000 after buying an additional 382 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Woodward in the 2nd quarter valued at $548,000. Finally, Quarry LP purchased a new stake in shares of Woodward in the 2nd quarter valued at $171,000. 81.18% of the stock is owned by institutional investors and hedge funds.

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.