Woodward, Inc. (NASDAQ:WWD) Stake Cut by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. lessened its holdings in shares of Woodward, Inc. (NASDAQ:WWD) by 30.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,135 shares of the technology company’s stock after selling 5,793 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Woodward were worth $2,253,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WWD. Park Avenue Securities LLC increased its stake in shares of Woodward by 2.4% during the 2nd quarter. Park Avenue Securities LLC now owns 3,277 shares of the technology company’s stock worth $571,000 after purchasing an additional 76 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Woodward by 3.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,268 shares of the technology company’s stock worth $570,000 after buying an additional 95 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in Woodward by 13.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 870 shares of the technology company’s stock valued at $133,000 after buying an additional 100 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Woodward by 7.7% in the second quarter. CIBC Asset Management Inc now owns 1,699 shares of the technology company’s stock worth $296,000 after buying an additional 121 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Woodward by 101.6% in the third quarter. UMB Bank n.a. now owns 246 shares of the technology company’s stock worth $42,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 81.18% of the company’s stock.

Analysts Set New Price Targets

WWD has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Woodward from a “hold” rating to a “buy” rating and raised their price objective for the company from $170.00 to $190.00 in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Woodward from $158.00 to $162.00 and gave the stock a “hold” rating in a report on Thursday, October 3rd. TD Cowen reiterated a “hold” rating and issued a $160.00 target price (down previously from $186.00) on shares of Woodward in a report on Friday, October 4th. The Goldman Sachs Group decreased their price target 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. Finally, Truist Financial upgraded Woodward from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $152.00 to $187.00 in a research note on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Woodward currently has a consensus rating of “Moderate Buy” and an average price target of $174.67.

Woodward Stock Performance

Shares of NASDAQ WWD traded up $0.73 during mid-day trading on Monday, hitting $164.77. The company had a trading volume of 81,349 shares, compared to its average volume of 415,517. Woodward, Inc. has a 12 month low of $119.41 and a 12 month high of $188.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.96 and a quick ratio of 1.29. The firm has a market cap of $10.03 billion, a P/E ratio of 28.68, a PEG ratio of 1.74 and a beta of 1.37. The business’s 50-day simple moving average is $164.64 and its 200-day simple moving average is $168.86.

Woodward (NASDAQ:WWD) last released its quarterly earnings data on Monday, July 29th. The technology company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. The business had revenue of $847.69 million for the quarter, compared to analysts’ expectations of $853.29 million. Woodward had a return on equity of 17.16% and a net margin of 11.47%. Woodward’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.37 earnings per share. As a group, analysts predict that Woodward, Inc. will post 5.92 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. Stockholders of record on Thursday, November 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Thursday, November 21st. Woodward’s dividend payout ratio is 17.48%.

Woodward 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.