Ingalls & Snyder LLC Decreases Stake in Woodward, Inc. $WWD

Ingalls & Snyder LLC lowered its position in Woodward, Inc. (NASDAQ:WWD) by 8.1% in the second quarter, Holdings Channel reports. The fund owned 9,100 shares of the technology company’s stock after selling 800 shares during the period. Ingalls & Snyder LLC’s holdings in Woodward were worth $2,230,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WWD. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Woodward by 189.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171 shares of the technology company’s stock worth $31,000 after acquiring an additional 112 shares during the last quarter. TCTC Holdings LLC lifted its stake in Woodward by 116.7% in the first quarter. TCTC Holdings LLC now owns 182 shares of the technology company’s stock worth $33,000 after acquiring an additional 98 shares during the last quarter. Virtus Advisers LLC purchased a new position in Woodward in the first quarter worth approximately $38,000. MassMutual Private Wealth & Trust FSB lifted its stake in Woodward by 32.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 220 shares of the technology company’s stock worth $54,000 after acquiring an additional 54 shares during the last quarter. Finally, Berbice Capital Management LLC lifted its stake in Woodward by 50.0% in the first quarter. Berbice Capital Management LLC now owns 300 shares of the technology company’s stock worth $55,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

Insider Buying and Selling

In related news, Director John D. Cohn sold 1,750 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $244.32, for a total value of $427,560.00. Following the completion of the sale, the director owned 20,963 shares in the company, valued at $5,121,680.16. This represents a 7.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.82% of the stock is currently owned by company insiders.

Analyst Ratings Changes

WWD has been the subject of a number of recent research reports. Zacks Research downgraded shares of Woodward from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Northcoast Research upgraded shares of Woodward to a “hold” rating in a research report on Friday, July 25th. Wolfe Research set a $300.00 price objective on shares of Woodward and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Wall Street Zen downgraded shares of Woodward from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, UBS Group boosted their price objective on shares of Woodward from $283.00 to $299.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $268.67.

Woodward Stock Up 0.8%

WWD stock opened at $265.82 on Monday. The company has a fifty day moving average price of $247.41 and a 200 day moving average price of $232.47. Woodward, Inc. has a 12 month low of $146.82 and a 12 month high of $267.45. The company has a market cap of $15.94 billion, a price-to-earnings ratio of 42.06, a price-to-earnings-growth ratio of 2.59 and a beta of 1.26. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.04 and a quick ratio of 1.39.

Woodward (NASDAQ:WWD) last released its quarterly earnings results on Monday, July 28th. The technology company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.62 by $0.14. Woodward had a net margin of 11.32% and a return on equity of 16.57%. The firm had revenue of $915.45 million during the quarter, compared to the consensus estimate of $884.98 million. During the same quarter in the prior year, the firm earned $1.63 EPS. Woodward’s revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts expect that Woodward, Inc. will post 6.15 earnings per share for the current year.

Woodward Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be given a $0.28 dividend. The ex-dividend date is Thursday, November 20th. This represents a $1.12 annualized dividend and a yield of 0.4%. Woodward’s dividend payout ratio is 17.72%.

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.