Woodward, Inc. (NASDAQ:WWD) Shares Purchased by Allspring Global Investments Holdings LLC

Posted by Defense World Staff on Jul 8th, 2023

Allspring Global Investments Holdings LLC increased its stake in shares of Woodward, Inc. (NASDAQ:WWD – Free Report) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,934 shares of the technology company’s stock after purchasing an additional 1,150 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Woodward were worth $1,941,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WWD. Morgan Stanley grew its stake in Woodward by 653.0% during the 4th quarter. Morgan Stanley now owns 2,309,248 shares of the technology company’s stock worth $223,097,000 after purchasing an additional 2,002,572 shares in the last quarter. BlackRock Inc. lifted its holdings in Woodward by 15.4% during the 1st quarter. BlackRock Inc. now owns 5,749,193 shares of the technology company’s stock worth $718,131,000 after buying an additional 768,984 shares during the last quarter. State Street Corp lifted its holdings in Woodward by 41.1% during the 1st quarter. State Street Corp now owns 2,134,296 shares of the technology company’s stock worth $266,595,000 after buying an additional 621,559 shares during the last quarter. Norges Bank purchased a new stake in Woodward during the 4th quarter worth about $23,812,000. Finally, Eaton Vance Management lifted its holdings in Woodward by 63.4% during the 1st quarter. Eaton Vance Management now owns 580,570 shares of the technology company’s stock worth $72,519,000 after buying an additional 225,198 shares during the last quarter. 81.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com assumed coverage on Woodward in a report on Thursday, May 18th. They set a “hold” rating for the company. Truist Financial lifted their price target on Woodward from $85.00 to $97.00 in a report on Tuesday, May 2nd. TheStreet raised Woodward from a “c” rating to a “b-” rating in a report on Monday, May 1st. Credit Suisse Group boosted their target price on Woodward from $120.00 to $125.00 in a report on Tuesday, May 2nd. Finally, Barclays boosted their target price on Woodward from $107.00 to $112.00 in a report on Tuesday, May 9th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.25.

Woodward Stock Performance

Shares of WWD stock opened at $117.47 on Friday. The stock has a market capitalization of $7.05 billion, a PE ratio of 45.36, a price-to-earnings-growth ratio of 2.43 and a beta of 1.46. Woodward, Inc. has a 52-week low of $79.26 and a 52-week high of $119.35. The stock’s 50-day moving average price is $111.23 and its 200 day moving average price is $103.03. The company has a quick ratio of 1.35, a current ratio of 2.21 and a debt-to-equity ratio of 0.32.

Woodward (NASDAQ:WWD – Free Report) last issued its quarterly earnings results on Monday, May 1st. The technology company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.24. The firm had revenue of $718.21 million for the quarter, compared to analysts’ expectations of $648.42 million. Woodward had a return on equity of 9.39% and a net margin of 6.12%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. As a group, equities research analysts forecast that Woodward, Inc. will post 3.58 EPS for the current year.

Woodward Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 5th. Investors of record on Monday, May 22nd were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, May 19th. Woodward’s dividend payout ratio (DPR) is presently 33.98%.

Insider Activity at Woodward

In related news, Director Rajeev Bhalla purchased 461 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The shares were purchased at an average price of $108.23 per share, for a total transaction of $49,894.03. Following the transaction, the director now directly owns 1,380 shares of the company’s stock, valued at approximately $149,357.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Woodward news, Director Gregg C. Sengstack sold 2,045 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $109.56, for a total transaction of $224,050.20. Following the transaction, the director now owns 17,450 shares in the company, valued at approximately $1,911,822. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rajeev Bhalla bought 461 shares of the company’s stock in a transaction on Monday, May 8th. The shares were acquired at an average price of $108.23 per share, for a total transaction of $49,894.03. Following the transaction, the director now directly owns 1,380 shares in the company, valued at approximately $149,357.40. The disclosure for this purchase can be found here. Insiders have sold 5,440 shares of company stock worth $602,974 in the last quarter. Company insiders own 1.19% of the company’s stock.

About Woodward

(Free Report)

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.