Nuveen Asset Management LLC Sells 6,541 Shares of Woodward, Inc. (NASDAQ:WWD)

Posted by Defense World Staff on Mar 4th, 2023

Nuveen Asset Management LLC cut its position in Woodward, Inc. (NASDAQ:WWD – Get Rating) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 241,095 shares of the technology company’s stock after selling 6,541 shares during the quarter. Nuveen Asset Management LLC owned about 0.40% of Woodward worth $19,350,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WWD. Quadrant Capital Group LLC raised its holdings in Woodward by 226.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 307 shares of the technology company’s stock valued at $25,000 after acquiring an additional 213 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in Woodward in the 2nd quarter valued at $28,000. Wipfli Financial Advisors LLC acquired a new position in Woodward in the 3rd quarter valued at $35,000. Meeder Asset Management Inc. raised its holdings in Woodward by 41.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 468 shares of the technology company’s stock valued at $43,000 after acquiring an additional 136 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in Woodward by 210.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 696 shares of the technology company’s stock valued at $55,000 after acquiring an additional 472 shares in the last quarter. 81.74% of the stock is currently owned by institutional investors.

Insider Activity at Woodward

In related news, Director Ronald M. Sega sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $104.00, for a total transaction of $208,000.00. Following the sale, the director now owns 13,689 shares in the company, valued at approximately $1,423,656. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Rajeev Bhalla purchased 484 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The shares were acquired at an average cost of $103.06 per share, with a total value of $49,881.04. Following the purchase, the director now owns 919 shares in the company, valued at $94,712.14. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald M. Sega sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $104.00, for a total value of $208,000.00. Following the transaction, the director now directly owns 13,689 shares in the company, valued at $1,423,656. The disclosure for this sale can be found here. 1.19% of the stock is owned by corporate insiders.

Woodward Trading Up 1.4 %

NASDAQ WWD opened at $102.44 on Friday. The business’s 50-day moving average price is $102.61 and its two-hundred day moving average price is $96.00. Woodward, Inc. has a 12 month low of $79.26 and a 12 month high of $129.12. The firm has a market capitalization of $6.12 billion, a PE ratio of 37.25, a price-to-earnings-growth ratio of 2.22 and a beta of 1.46. The company has a current ratio of 2.15, a quick ratio of 1.24 and a debt-to-equity ratio of 0.33.

Woodward (NASDAQ:WWD – Get Rating) last released its quarterly earnings results on Monday, January 30th. The technology company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.11). Woodward had a net margin of 6.95% and a return on equity of 8.57%. The company had revenue of $619.00 million during the quarter, compared to the consensus estimate of $599.88 million. During the same quarter last year, the firm posted $0.56 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, analysts expect that Woodward, Inc. will post 3.33 EPS for the current year.

Woodward Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Tuesday, February 21st will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, February 17th. This is a positive change from Woodward’s previous quarterly dividend of $0.19. Woodward’s payout ratio is 32.00%.

Analysts Set New Price Targets

WWD has been the subject of a number of research analyst reports. TheStreet cut Woodward from a “b-” rating to a “c” rating in a report on Monday, January 30th. Credit Suisse Group initiated coverage on Woodward in a report on Monday, February 27th. They set an “outperform” rating and a $120.00 price target for the company. StockNews.com cut Woodward from a “buy” rating to a “hold” rating in a report on Tuesday, November 29th. Wolfe Research cut Woodward from an “outperform” rating to a “peer perform” rating in a report on Tuesday, November 22nd. Finally, Truist Financial boosted their price target on Woodward from $88.00 to $93.00 in a report on Monday, January 9th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $107.00.

About Woodward

(Get Rating)

Woodward, Inc engages in the provision of control system solutions and components for the aerospace and industrial markets. It operates through the following segments: Aerospace and Industrial. The Aerospace segment designs, manufactures and services systems and products for the management of fuel, air and combustion and motion control.