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Spectrum Planning & Advisory Services Inc. Trims Stock Position in Woodward, Inc. (NASDAQ:WWD)

Financial News Live · Sep 22, 2022 16:32

Spectrum Planning & Advisory Services Inc. lessened its holdings in shares of Woodward, Inc. (NASDAQ:WWD – Get Rating) by 8.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,068 shares of the technology company's stock after selling 790 shares during the period. Woodward accounts for approximately 0.9% of Spectrum Planning & Advisory Services Inc.'s holdings, making the stock its 24th biggest position. Spectrum Planning & Advisory Services Inc.'s holdings in Woodward were worth $839,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Rockefeller Capital Management L.P. boosted its holdings in shares of Woodward by 43.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 315 shares of the technology company's stock valued at $34,000 after buying an additional 96 shares in the last quarter. Northcape Wealth Management LLC boosted its stake in Woodward by 0.8% in the 1st quarter. Northcape Wealth Management LLC now owns 12,350 shares of the technology company's stock worth $1,543,000 after purchasing an additional 100 shares in the last quarter. Securian Asset Management Inc. boosted its stake in Woodward by 1.8% in the 1st quarter. Securian Asset Management Inc. now owns 5,704 shares of the technology company's stock worth $712,000 after purchasing an additional 100 shares in the last quarter. Fulton Bank N.A. boosted its stake in Woodward by 6.0% in the 1st quarter. Fulton Bank N.A. now owns 2,489 shares of the technology company's stock worth $311,000 after purchasing an additional 141 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Woodward by 3.0% in the 1st quarter. Crossmark Global Holdings Inc. now owns 5,470 shares of the technology company's stock worth $683,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

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Insider Activity

In related news, Director Mary L. Petrovich sold 5,100 shares of the firm's stock in a transaction on Friday, August 12th. The stock was sold at an average price of $102.19, for a total value of $521,169.00. Following the completion of the sale, the director now directly owns 6,395 shares in the company, valued at $653,505.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Woodward news, Director Mary L. Petrovich sold 5,100 shares of the stock in a transaction on Friday, August 12th. The stock was sold at an average price of $102.19, for a total value of $521,169.00. Following the sale, the director now owns 6,395 shares in the company, valued at $653,505.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark D. Hartman sold 5,300 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $92.21, for a total value of $488,713.00. Following the completion of the sale, the chief financial officer now owns 2,585 shares in the company, valued at approximately $238,362.85. The disclosure for this sale can be found here. In the last ninety days, insiders bought 17,100 shares of company stock worth $1,622,371. 3.90% of the stock is currently owned by insiders.

Woodward Price Performance

WWD stock traded down $2.52 during midday trading on Thursday, hitting $84.66. The company's stock had a trading volume of 11,851 shares, compared to its average volume of 387,309. Woodward, Inc. has a 12 month low of $87.18 and a 12 month high of $129.12. The company has a quick ratio of 1.77, a current ratio of 2.95 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 32.48, a price-to-earnings-growth ratio of 2.50 and a beta of 1.49. The company has a 50 day moving average of $96.51 and a two-hundred day moving average of $103.38.

Woodward (NASDAQ:WWD – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.27). Woodward had a return on equity of 8.38% and a net margin of 7.24%. The business had revenue of $614.33 million during the quarter, compared to the consensus estimate of $625.04 million. During the same quarter in the previous year, the company earned $0.74 earnings per share. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts expect that Woodward, Inc. will post 2.65 EPS for the current year.

Woodward Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 15th were given a dividend of $0.19 per share. The ex-dividend date was Friday, August 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.90%. Woodward's dividend payout ratio is currently 29.12%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Woodward from $117.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 2nd. Truist Financial lowered Woodward from a "buy" rating to a "hold" rating and decreased their target price for the stock from $121.00 to $88.00 in a research report on Tuesday, August 2nd. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $90.00 target price on shares of Woodward in a research report on Wednesday, September 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Woodward presently has a consensus rating of "Hold" and an average target price of $107.86.

Woodward Company Profile

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Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates through 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.