Intech Investment Management LLC Trims Stock Holdings in Woodward, Inc. (NASDAQ:WWD)

Intech Investment Management LLC reduced its holdings in Woodward, Inc. (NASDAQ:WWD) by 13.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,699 shares of the technology company’s stock after selling 1,894 shares during the period. Intech Investment Management LLC’s holdings in Woodward were worth $2,178,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Woodward by 10.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 83,980 shares of the technology company’s stock worth $14,404,000 after acquiring an additional 7,798 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Woodward by 17.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 16,248 shares of the technology company’s stock worth $2,787,000 after purchasing an additional 2,412 shares during the period. Commerce Bank increased its holdings in shares of Woodward by 2.1% during the 3rd quarter. Commerce Bank now owns 4,624 shares of the technology company’s stock valued at $793,000 after purchasing an additional 95 shares in the last quarter. Avior Wealth Management LLC lifted its stake in shares of Woodward by 24.8% in the 3rd quarter. Avior Wealth Management LLC now owns 5,035 shares of the technology company’s stock valued at $864,000 after purchasing an additional 1,000 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Woodward by 5.6% during the third quarter. PNC Financial Services Group Inc. now owns 58,229 shares of the technology company’s stock worth $9,987,000 after buying an additional 3,087 shares in the last quarter. 81.18% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Thomas G. Cromwell sold 10,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $177.65, for a total value of $1,776,500.00. Following the completion of the sale, the chief operating officer now owns 11,511 shares of the company’s stock, valued at approximately $2,044,929.15. This represents a 46.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold 27,913 shares of company stock worth $4,907,304 over the last ninety days. Corporate insiders own 1.12% of the company’s stock.

Woodward Stock Performance

NASDAQ:WWD opened at $176.05 on Monday. Woodward, Inc. has a twelve month low of $129.46 and a twelve month high of $188.35. The company has a market cap of $10.50 billion, a P/E ratio of 29.44, a P/E/G ratio of 1.87 and a beta of 1.38. The company has a current ratio of 1.96, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $167.82 and its 200-day moving average price is $170.87.

Woodward Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a $0.25 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. Woodward’s dividend payout ratio (DPR) is presently 16.72%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Woodward from a “buy” rating to a “hold” rating in a report on Friday. Jefferies Financial Group upgraded Woodward from a “hold” rating to a “buy” rating and lifted their price target for the company from $170.00 to $190.00 in a research note on Wednesday, July 31st. The Goldman Sachs Group lowered their price target on Woodward from $228.00 to $201.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Truist Financial upgraded Woodward from a “hold” rating to a “buy” rating and boosted their price objective for the company from $152.00 to $187.00 in a research report on Wednesday, August 21st. Finally, TD Cowen reiterated a “hold” rating and set a $160.00 target price (down previously from $186.00) on shares of Woodward in a research report on Friday, October 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $174.67.

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.