American International Group Inc. boosted its stake in Woodward, Inc. (NASDAQ:WWD) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,630 shares of the technology company’s stock after acquiring an additional 4,001 shares during the quarter. American International Group Inc. owned about 0.24% of Woodward worth $11,535,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp increased its position in Woodward by 1.2% in the second quarter. State Street Corp now owns 1,767,393 shares of the technology company’s stock worth $119,435,000 after buying an additional 20,651 shares during the period. Northern Trust Corp lifted its holdings in shares of Woodward by 1.2% during the second quarter. Northern Trust Corp now owns 1,093,582 shares of the technology company’s stock valued at $73,904,000 after purchasing an additional 13,494 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Woodward by 5.3% during the second quarter. Eagle Asset Management Inc. now owns 996,816 shares of the technology company’s stock valued at $67,364,000 after purchasing an additional 50,059 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Woodward by 6.4% during the third quarter. Bank of New York Mellon Corp now owns 833,035 shares of the technology company’s stock valued at $64,652,000 after purchasing an additional 50,208 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in Woodward by 18.1% in the 2nd quarter. Voya Investment Management LLC now owns 777,981 shares of the technology company’s stock worth $52,575,000 after acquiring an additional 119,164 shares in the last quarter. Hedge funds and other institutional investors own 72.19% of the company’s stock.
In other Woodward news, Director Mary L. Petrovich sold 5,700 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $79.69, for a total value of $454,233.00. Following the completion of the transaction, the director now directly owns 27,904 shares of the company’s stock, valued at $2,223,669.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.93% of the stock is currently owned by insiders.
Woodward (NASDAQ:WWD) last released its earnings results on Wednesday, November 8th. The technology company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.05. Woodward had a return on equity of 15.55% and a net margin of 9.55%. The company had revenue of $606.79 million during the quarter, compared to analysts’ expectations of $596.99 million. During the same period last year, the firm earned $0.99 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. sell-side analysts predict that Woodward, Inc. will post 3.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 27th. Investors of record on Monday, November 13th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, November 10th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.66%. Woodward’s dividend payout ratio (DPR) is presently 15.82%.
WWD has been the subject of several research analyst reports. BidaskClub downgraded Woodward from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Zacks Investment Research raised Woodward from a “sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Wood & Company lowered Woodward from an “outperform” rating to a “market perform” rating in a report on Thursday, October 26th. Oppenheimer reaffirmed a “market perform” rating and issued a $82.00 target price on shares of Woodward in a report on Thursday, October 26th. Finally, SunTrust Banks raised their target price on Woodward to $77.00 and gave the company a “hold” rating in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $77.71.
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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