Woodward (NASDAQ:WWD – Get Free Report) had its price objective lifted by equities research analysts at The Goldman Sachs Group from $229.00 to $255.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 5.08% from the company’s previous close.
A number of other equities analysts have also recently issued reports on WWD. UBS Group raised their target price on Woodward from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft upgraded Woodward from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a report on Tuesday, June 3rd. Wall Street Zen upgraded Woodward from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Jefferies Financial Group restated a “buy” rating and set a $245.00 target price (up previously from $225.00) on shares of Woodward in a report on Friday, May 23rd. Finally, Wells Fargo & Company raised their target price on Woodward from $175.00 to $193.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Woodward currently has a consensus rating of “Moderate Buy” and an average price target of $228.88.
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Woodward Stock Performance
Woodward (NASDAQ:WWD – Get Free Report) last announced its earnings results on Monday, April 28th. The technology company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.25. Woodward had a return on equity of 16.86% and a net margin of 11.36%. The company had revenue of $883.63 million during the quarter, compared to analyst estimates of $838.61 million. During the same period last year, the company posted $1.62 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts predict that Woodward will post 6.15 EPS for the current fiscal year.
Insider Activity at Woodward
In related news, CEO Charles P. Blankenship sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $214.38, for a total transaction of $1,071,900.00. Following the transaction, the chief executive officer now directly owns 72,878 shares of the company’s stock, valued at approximately $15,623,585.64. The trade was a 6.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John D. Cohn sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $191.52, for a total value of $536,256.00. Following the transaction, the director now directly owns 20,965 shares in the company, valued at $4,015,216.80. The trade was a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,250 shares of company stock worth $9,035,789. Insiders own 0.82% of the company’s stock.
Hedge Funds Weigh In On Woodward
Several institutional investors and hedge funds have recently modified their holdings of WWD. MassMutual Private Wealth & Trust FSB grew its stake in shares of Woodward by 191.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 166 shares of the technology company’s stock valued at $30,000 after acquiring an additional 109 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Woodward by 2,314.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 169 shares of the technology company’s stock worth $31,000 after purchasing an additional 162 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Woodward by 189.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 171 shares of the technology company’s stock worth $31,000 after purchasing an additional 112 shares during the period. TCTC Holdings LLC lifted its position in Woodward by 116.7% during the first quarter. TCTC Holdings LLC now owns 182 shares of the technology company’s stock worth $33,000 after purchasing an additional 98 shares during the period. Finally, NBT Bank N A NY bought a new stake in Woodward during the fourth quarter worth about $34,000. 81.18% of the stock is currently owned by institutional investors and hedge funds.
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.
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