Truist Financial Issues Positive Forecast for Woodward (NASDAQ:WWD) Stock Price

Woodward (NASDAQ:WWD) had its price objective hoisted by Truist Financial from $205.00 to $209.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would suggest a potential upside of 11.43% from the company’s current price.

WWD has been the subject of a number of other reports. Wells Fargo & Company reissued a “reduce” rating on shares of Woodward in a research report on Tuesday, April 15th. UBS Group upped their price objective on Woodward from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $187.00 price objective on Woodward and gave the company a “hold” rating in a research note on Monday, April 14th. Finally, StockNews.com downgraded Woodward from a “buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $195.00.

Woodward Trading Up 1.5 %

NASDAQ:WWD opened at $187.57 on Tuesday. The stock has a 50-day simple moving average of $178.09 and a 200-day simple moving average of $177.64. The stock has a market cap of $11.13 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.37 and a beta of 1.12. Woodward has a 1 year low of $145.98 and a 1 year high of $201.64. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.19 and a current ratio of 1.89.

Woodward (NASDAQ:WWD) last released its quarterly earnings data on Monday, April 28th. The technology company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.25. The business had revenue of $883.63 million during the quarter, compared to analysts’ expectations of $838.61 million. Woodward had a return on equity of 16.76% and a net margin of 11.18%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 EPS. As a group, analysts anticipate that Woodward will post 6.15 earnings per share for the current fiscal year.

Insider Transactions at Woodward

In other news, COO Thomas G. Cromwell sold 10,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $184.50, for a total transaction of $1,845,000.00. Following the transaction, the chief operating officer now directly owns 15,477 shares in the company, valued at $2,855,506.50. This represents a 39.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gregg C. Sengstack sold 4,600 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $187.86, for a total transaction of $864,156.00. Following the sale, the director now directly owns 17,450 shares of the company’s stock, valued at approximately $3,278,157. This trade represents a 20.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,900 shares of company stock worth $5,215,444 in the last three months. Company insiders own 0.82% of the company’s stock.

Institutional Trading of Woodward

A number of institutional investors and hedge funds have recently bought and sold shares of WWD. Barclays PLC increased its position in Woodward by 51.4% during the 3rd quarter. Barclays PLC now owns 42,189 shares of the technology company’s stock worth $7,236,000 after purchasing an additional 14,326 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Woodward during the 3rd quarter worth approximately $2,547,000. Tidal Investments LLC increased its position in Woodward by 11.0% during the 3rd quarter. Tidal Investments LLC now owns 2,738 shares of the technology company’s stock worth $470,000 after purchasing an additional 271 shares in the last quarter. JPMorgan Chase & Co. grew its position in Woodward by 135.1% in the third quarter. JPMorgan Chase & Co. now owns 992,189 shares of the technology company’s stock valued at $170,170,000 after acquiring an additional 570,124 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Woodward by 54.4% in the fourth quarter. GAMMA Investing LLC now owns 1,067 shares of the technology company’s stock valued at $178,000 after acquiring an additional 376 shares in the last quarter. Institutional investors and hedge funds own 81.18% of the company’s stock.

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.