Truist Financial Reaffirms Buy Rating for Woodward (NASDAQ:WWD)

Truist Financial restated their buy rating on shares of Woodward (NASDAQ:WWD) in a report released on Tuesday,Benzinga reports. Truist Financial currently has a $226.00 price target on the technology company’s stock, up from their prior price target of $187.00.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group raised shares of Woodward from a “hold” rating to a “buy” rating and upped their target price for the stock from $170.00 to $190.00 in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Woodward from $158.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. StockNews.com lowered Woodward from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. The Goldman Sachs Group dropped their price target on Woodward from $228.00 to $201.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, TD Cowen restated a “hold” rating and issued a $160.00 price objective (down from $186.00) on shares of Woodward in a research report on Friday, October 4th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Woodward currently has an average rating of “Hold” and a consensus target price of $184.67.

Woodward Trading Up 4.5 %

NASDAQ:WWD opened at $187.29 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.96 and a quick ratio of 1.29. Woodward has a 1 year low of $129.46 and a 1 year high of $201.64. The company has a market cap of $11.17 billion, a P/E ratio of 31.82, a P/E/G ratio of 1.87 and a beta of 1.38. The stock’s fifty day moving average price is $168.14 and its two-hundred day moving average price is $170.87.

Woodward Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. Woodward’s payout ratio is 16.72%.

Insiders Place Their Bets

In other Woodward news, COO Thomas G. Cromwell sold 10,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $174.50, for a total value of $1,745,000.00. Following the completion of the sale, the chief operating officer now directly owns 11,511 shares of the company’s stock, valued at $2,008,669.50. The trade was a 46.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 27,913 shares of company stock valued at $4,907,304 over the last quarter. 1.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. True Wealth Design LLC bought a new position in shares of Woodward in the third quarter worth approximately $28,000. Wolff Wiese Magana LLC bought a new stake in shares of Woodward in the 3rd quarter worth approximately $31,000. AlphaCentric Advisors LLC purchased a new position in shares of Woodward during the second quarter valued at approximately $37,000. Capital Performance Advisors LLP purchased a new position in Woodward during the 3rd quarter valued at $41,000. Finally, UMB Bank n.a. lifted its position in shares of Woodward by 101.6% in the 3rd quarter. UMB Bank n.a. now owns 246 shares of the technology company’s stock worth $42,000 after purchasing an additional 124 shares during the period. Hedge funds and other institutional investors own 81.18% of the company’s stock.

About Woodward

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.