Lazard Asset Management LLC trimmed its position in shares of Woodward, Inc. (NASDAQ:WWD – Free Report) by 27.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,453 shares of the technology company’s stock after selling 1,663 shares during the period. Lazard Asset Management LLC’s holdings in Woodward were worth $1,594,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in Woodward by 82.5% in the 1st quarter. Parallel Advisors LLC now owns 115 shares of the technology company’s stock valued at $41,000 after acquiring an additional 52 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Woodward during the fourth quarter valued at $35,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Woodward during the fourth quarter valued at $44,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Woodward in the fourth quarter worth about $61,000. Finally, Hollencrest Capital Management grew its holdings in shares of Woodward by 1,800.0% in the first quarter. Hollencrest Capital Management now owns 209 shares of the technology company’s stock worth $75,000 after purchasing an additional 198 shares during the last quarter. 81.18% of the stock is owned by hedge funds and other institutional investors.
Woodward Stock Up 0.8%
Shares of NASDAQ WWD opened at $363.57 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.14 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $21.66 billion, a PE ratio of 40.44, a price-to-earnings-growth ratio of 2.12 and a beta of 0.88. The stock’s fifty day simple moving average is $395.86 and its two-hundred day simple moving average is $377.83. Woodward, Inc. has a 12-month low of $233.31 and a 12-month high of $450.92.
Woodward Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a $0.32 dividend. The ex-dividend date is Thursday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 0.4%. Woodward’s payout ratio is currently 14.24%.
Insider Buying and Selling at Woodward
In other news, EVP Shawn M. Mclevige sold 2,150 shares of the company’s stock in a transaction 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 transaction, the executive vice president directly owned 3,098 shares of the company’s stock, valued at approximately $1,105,428.36. This represents a 40.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Karrie M. Bem sold 185 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $355.00, for a total value of $65,675.00. Following the sale, the executive vice president owned 3,648 shares of the company’s stock, valued at approximately $1,295,040. This represents a 4.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 17,779 shares of company stock valued at $6,337,168. 0.71% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on WWD shares. Zacks Research upgraded shares of Woodward from a “hold” rating to a “strong-buy” rating in a report on Monday, June 29th. Weiss Ratings restated a “buy (b)” rating on shares of Woodward in a research note on Friday, July 17th. Royal Bank Of Canada decreased their price target on shares of Woodward from $450.00 to $430.00 and set an “outperform” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $470.00 price target on shares of Woodward in a report on Friday, May 1st. Finally, TD Cowen raised their price objective on Woodward from $390.00 to $420.00 and gave the stock a “hold” rating in a report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $406.00.
Read Our Latest Research Report on Woodward
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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