Woodward (NASDAQ:WWD) Price Target Raised to $205.00

Woodward (NASDAQ:WWD) had its price objective upped by research analysts at Wells Fargo & Company from $193.00 to $205.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 11.24% from the stock’s previous close.

WWD has been the subject of a number of other reports. Truist Financial raised their target price on Woodward from $226.00 to $229.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. StockNews.com raised shares of Woodward from a “hold” rating to a “buy” rating in a report on Monday, December 2nd. UBS Group boosted their target price on shares of Woodward from $209.00 to $228.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Barclays lifted their price target on Woodward from $175.00 to $200.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Woodward presently has a consensus rating of “Moderate Buy” and an average target price of $196.88.

Woodward Stock Performance

Shares of NASDAQ:WWD traded down $3.61 during midday trading on Tuesday, reaching $184.29. The company had a trading volume of 55,375 shares, compared to its average volume of 422,229. The stock has a market cap of $10.90 billion, a P/E ratio of 30.62, a P/E/G ratio of 2.36 and a beta of 1.40. The company’s 50 day moving average price is $179.16 and its 200 day moving average price is $170.49. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 0.26. Woodward has a 52-week low of $133.56 and a 52-week high of $201.64.

Woodward (NASDAQ:WWD) last released its earnings results on Monday, February 3rd. The technology company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.21. Woodward had a net margin of 11.22% and a return on equity of 17.13%. During the same period in the previous year, the business earned $1.45 EPS. As a group, sell-side analysts anticipate that Woodward will post 6 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Thomas G. Cromwell sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $174.50, for a total transaction of $1,745,000.00. Following the sale, the chief operating officer now owns 11,511 shares in the company, valued at approximately $2,008,669.50. This trade represents a 46.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John D. Cohn sold 2,400 shares of Woodward stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $179.57, for a total transaction of $430,968.00. Following the sale, the director now directly owns 20,963 shares of the company’s stock, valued at $3,764,325.91. This represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,313 shares of company stock worth $10,752,072 in the last ninety days. 0.82% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Woodward

Large investors have recently modified their holdings of the company. Truist Financial Corp grew its position in Woodward by 26.5% during the second quarter. Truist Financial Corp now owns 1,825 shares of the technology company’s stock valued at $318,000 after acquiring an additional 382 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Woodward in the 2nd quarter valued at $1,597,000. Williams & Novak LLC bought a new position in shares of Woodward during the 3rd quarter valued at $336,000. CWM LLC raised its position in Woodward by 16.2% in the 3rd quarter. CWM LLC now owns 14,354 shares of the technology company’s stock worth $2,462,000 after purchasing an additional 2,005 shares during the period. Finally, UMB Bank n.a. lifted its stake in Woodward by 101.6% in the third 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 last quarter. 81.18% of the stock is owned by hedge funds and other institutional investors.

Woodward Company Profile

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.