Park Place Capital Corp Sells 340 Shares of Woodward, Inc. (NASDAQ:WWD)

Park Place Capital Corp lowered its holdings in Woodward, Inc. (NASDAQ:WWD) by 50.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 335 shares of the technology company’s stock after selling 340 shares during the period. Park Place Capital Corp’s holdings in Woodward were worth $52,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of WWD. Vanguard Group Inc. increased its holdings in Woodward by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 5,758,261 shares of the technology company’s stock worth $783,872,000 after acquiring an additional 37,011 shares during the period. Earnest Partners LLC increased its holdings in Woodward by 6.3% during the 3rd quarter. Earnest Partners LLC now owns 1,062,665 shares of the technology company’s stock worth $132,047,000 after acquiring an additional 62,897 shares during the period. Norges Bank bought a new stake in Woodward during the 4th quarter worth approximately $84,157,000. Sei Investments Co. increased its holdings in Woodward by 37.6% during the 4th quarter. Sei Investments Co. now owns 524,683 shares of the technology company’s stock worth $71,425,000 after acquiring an additional 143,410 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Woodward by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 500,991 shares of the technology company’s stock worth $68,200,000 after acquiring an additional 4,147 shares during the period. Institutional investors own 81.18% of the company’s stock.

Woodward Trading Down 1.7 %

Shares of WWD opened at $171.41 on Tuesday. The firm’s 50-day moving average price is $176.85 and its 200-day moving average price is $154.30. The firm has a market capitalization of $10.44 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 1.80 and a beta of 1.37. The company has a current ratio of 2.62, a quick ratio of 1.78 and a debt-to-equity ratio of 0.28. Woodward, Inc. has a 1-year low of $115.90 and a 1-year high of $188.35.

Woodward (NASDAQ:WWD) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.34. Woodward had a net margin of 11.09% and a return on equity of 16.50%. The company had revenue of $835.34 million during the quarter, compared to analysts’ expectations of $807.04 million. During the same period last year, the company posted $1.01 EPS. Woodward’s revenue was up 16.3% on a year-over-year basis. Sell-side analysts anticipate that Woodward, Inc. will post 5.88 EPS for the current year.

Woodward Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Thursday, August 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 0.58%. Woodward’s dividend payout ratio (DPR) is currently 17.48%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WWD shares. Wells Fargo & Company raised their price objective on shares of Woodward from $156.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 30th. Barclays lifted their target price on shares of Woodward from $140.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. The Goldman Sachs Group lifted their target price on shares of Woodward from $159.00 to $201.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Truist Financial raised their price target on shares of Woodward from $143.00 to $152.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Woodward from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.38.

Insider Activity at Woodward

In related news, Director Gregg C. Sengstack sold 6,000 shares of Woodward stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $167.01, for a total transaction of $1,002,060.00. Following the completion of the transaction, the director now directly owns 17,450 shares of the company’s stock, valued at approximately $2,914,324.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.12% of the stock is currently owned by corporate insiders.

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.