Woodward (NASDAQ:WWD) PT Raised to $118.00 at Truist Securities


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Woodward (NASDAQ:WWD) had its price objective upped by analysts at Truist Securities from $108.00 to $118.00 in a research note issued on Tuesday, Stock Target Advisor reports. Truist Securities’ price target indicates a potential downside of 7.17% from the company’s previous close.

WWD has been the subject of a number of other research reports. Credit Suisse Group lifted their target price on shares of Woodward from $147.00 to $151.00 and gave the stock an “outperform” rating in a report on Tuesday. Truist raised their target price on Woodward from $108.00 to $118.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $104.00.

Shares of WWD stock traded up $2.58 on Tuesday, reaching $127.12. 13,360 shares of the stock were exchanged, compared to its average volume of 261,983. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.31 and a quick ratio of 1.36. Woodward has a one year low of $50.50 and a one year high of $127.91. The stock has a market cap of $8.01 billion, a PE ratio of 32.78, a P/E/G ratio of 1.84 and a beta of 1.51. The stock has a 50 day moving average price of $122.66 and a 200 day moving average price of $114.40.

Woodward (NASDAQ:WWD) last announced its quarterly earnings data on Sunday, May 2nd. The technology company reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.24. The firm had revenue of $581.32 million during the quarter, compared to analysts’ expectations of $573.50 million. Woodward had a return on equity of 15.51% and a net margin of 9.25%. The company’s quarterly revenue was down 19.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 EPS. On average, research analysts expect that Woodward will post 3.72 earnings per share for the current fiscal year.

In related news, CEO Thomas A. Gendron sold 5,075 shares of Woodward stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $116.00, for a total transaction of $588,700.00. Following the completion of the sale, the chief executive officer now directly owns 5,075 shares of the company’s stock, valued at approximately $588,700. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Christopher Fawzy sold 7,000 shares of the company’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $119.75, for a total value of $838,250.00. Following the completion of the transaction, the vice president now directly owns 10,506 shares in the company, valued at $1,258,093.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,604 shares of company stock worth $25,151,523. 4.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its stake in shares of Woodward by 281.7% in the third quarter. Steward Partners Investment Advisory LLC now owns 271 shares of the technology company’s stock valued at $29,000 after buying an additional 200 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Woodward by 333.8% during the 1st quarter. Meeder Asset Management Inc. now owns 282 shares of the technology company’s stock worth $34,000 after purchasing an additional 217 shares in the last quarter. Usca Ria LLC bought a new position in shares of Woodward in the third quarter worth $34,000. Motco acquired a new position in Woodward in the second quarter valued at about $39,000. Finally, AdvisorNet Financial Inc lifted its position in Woodward by 109.5% during the second quarter. AdvisorNet Financial Inc now owns 398 shares of the technology company’s stock worth $31,000 after purchasing an additional 208 shares during the period. 81.02% of the stock is owned by hedge funds and other institutional investors.

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 offers 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, servo controls, and motors and sensors for aircraft that are used on commercial and private aircraft and rotorcraft, as well as on military fixed-wing aircraft and rotorcraft, guided weapons, and other defense systems.

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