California State Teachers Retirement System increased its position in Woodward, Inc. (NASDAQ:WWD – Free Report) by 42,244.0% in the 2nd quarter, Holdings Channel reports. The firm owned 29,448,531 shares of the technology company’s stock after buying an additional 29,378,985 shares during the quarter. California State Teachers Retirement System owned about 0.50% of Woodward worth $12,528,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of the business. Woodline Partners LP acquired a new stake in Woodward during the first quarter worth $2,039,000. Focus Partners Wealth raised its stake in shares of Woodward by 35.5% in the 1st quarter. Focus Partners Wealth now owns 2,390 shares of the technology company’s stock valued at $436,000 after buying an additional 626 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Woodward by 684.3% during the 1st quarter. Acadian Asset Management LLC now owns 5,043 shares of the technology company’s stock worth $920,000 after acquiring an additional 4,400 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Woodward by 7.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,030 shares of the technology company’s stock worth $988,000 after acquiring an additional 265 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Woodward by 11.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 506 shares of the technology company’s stock valued at $124,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 81.18% of the company’s stock.
Woodward Stock Down 2.0%
WWD opened at $339.27 on Wednesday. The firm has a market cap of $20.03 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 2.03 and a beta of 0.87. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.14 and a current ratio of 1.65. The firm’s 50-day simple moving average is $375.26 and its 200-day simple moving average is $377.45. Woodward, Inc. has a twelve month low of $233.31 and a twelve month high of $450.92.
Woodward Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, August 20th. Woodward’s payout ratio is presently 14.24%.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Woodward from $415.00 to $420.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Wall Street Zen cut shares of Woodward from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Susquehanna started coverage on Woodward in a report on Tuesday, May 26th. They set a “positive” rating and a $423.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Woodward in a research note on Friday, July 17th. Finally, Zacks Research cut Woodward from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $419.00.
View Our Latest Analysis on WWD
Insider Buying and Selling
In related news, EVP Shawn McLevige sold 2,150 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $356.82, for a total transaction of $767,163.00. Following the sale, the executive vice president directly owned 3,098 shares in the company, valued at $1,105,428.36. This represents a 40.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is currently owned by company insiders.
About Woodward
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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