Pallas Capital Advisors LLC acquired a new stake in shares of Woodward, Inc. (NASDAQ:WWD – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,319 shares of the technology company’s stock, valued at approximately $987,000.
Several other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Woodward in the fourth quarter worth $251,365,000. Invesco Ltd. grew its holdings in shares of Woodward by 122.0% in the 3rd quarter. Invesco Ltd. now owns 905,578 shares of the technology company’s stock valued at $228,849,000 after buying an additional 497,722 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Woodward in the 2nd quarter valued at $184,322,000. Findlay Park Partners LLP increased its position in shares of Woodward by 136.2% in the 4th quarter. Findlay Park Partners LLP now owns 686,200 shares of the technology company’s stock valued at $207,452,000 after buying an additional 395,726 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in Woodward by 45.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,065,294 shares of the technology company’s stock worth $322,060,000 after buying an additional 334,333 shares during the period. Institutional investors own 81.18% of the company’s stock.
Woodward Trading Down 1.1%
Shares of NASDAQ:WWD opened at $366.20 on Wednesday. Woodward, Inc. has a 12 month low of $233.31 and a 12 month high of $450.92. The company has a quick ratio of 1.14, a current ratio of 1.65 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $397.80 and its 200 day simple moving average is $380.46. The firm has a market cap of $21.62 billion, a price-to-earnings ratio of 40.73, a PEG ratio of 2.17 and a beta of 0.88.
Woodward Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, August 20th. Woodward’s dividend payout ratio is currently 14.24%.
Insider Activity
In related news, EVP Shawn M. Mclevige sold 2,150 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $356.82, for a total transaction of $767,163.00. Following the completion of the transaction, the executive vice president directly owned 3,098 shares in the company, valued at approximately $1,105,428.36. This trade represents a 40.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel G. Korte sold 14,700 shares of Woodward stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $356.05, for a total value of $5,233,935.00. Following the completion of the sale, the director directly owned 4,434 shares in the company, valued at approximately $1,578,725.70. This represents a 76.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.71% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several research firms have weighed in on WWD. Weiss Ratings reiterated a “buy (b)” rating on shares of Woodward in a report on Friday, July 17th. Truist Financial increased their price target on Woodward from $415.00 to $420.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. TD Cowen raised their price target on Woodward from $390.00 to $420.00 and gave the stock a “hold” rating in a research report on Monday, July 13th. Zacks Research cut Woodward from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada cut their price objective on Woodward from $450.00 to $430.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $406.45.
View Our Latest Research Report on WWD
Woodward Company Profile
Woodward, Inc (NASDAQ: WWD) is a global leader in the design, manufacture and service of control systems and components for the aerospace and industrial markets. Founded in 1870 and headquartered in Fort Collins, Colorado, the company specializes in motion control, fuel systems, actuation, and digital control solutions. Its offerings enable precision management of flow, pressure and motion in critical applications ranging from aircraft engines and power turbines to hydraulic systems.
Woodward’s product portfolio is organized into two primary segments: Aerospace and Industrial.
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