California Public Employees Retirement System lifted its holdings in shares of Woodward, Inc. (NASDAQ:WWD) by 3.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 129,292 shares of the technology company’s stock after purchasing an additional 4,635 shares during the period. California Public Employees Retirement System’s holdings in Woodward were worth $10,364,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of WWD. FMR LLC raised its stake in shares of Woodward by 114.4% during the 1st quarter. FMR LLC now owns 540,692 shares of the technology company’s stock worth $51,306,000 after buying an additional 288,545 shares in the last quarter. Morgan Stanley raised its stake in shares of Woodward by 19.1% during the 1st quarter. Morgan Stanley now owns 82,631 shares of the technology company’s stock worth $4,912,000 after buying an additional 13,272 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of Woodward by 56.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 14,421 shares of the technology company’s stock worth $1,118,000 after buying an additional 5,209 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Woodward during the 2nd quarter worth approximately $475,000. Finally, SG Americas Securities LLC purchased a new position in Woodward in the 2nd quarter valued at approximately $1,090,000. 81.02% of the stock is owned by institutional investors and hedge funds.
WWD has been the subject of several research analyst reports. Barclays raised their price objective on Woodward from $80.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, September 10th. BidaskClub raised Woodward from a “hold” rating to a “buy” rating in a research note on Wednesday, October 7th. Oppenheimer reaffirmed a “hold” rating on shares of Woodward in a research note on Friday, August 7th. Credit Suisse Group increased their target price on Woodward from $100.00 to $121.00 and gave the company an “outperform” rating in a report on Friday. Finally, Truist increased their target price on Woodward from $51.00 to $70.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $92.13.
Shares of Woodward stock opened at $108.64 on Friday. Woodward, Inc. has a twelve month low of $46.51 and a twelve month high of $129.06. The stock has a market capitalization of $6.78 billion, a P/E ratio of 28.00, a PEG ratio of 1.84 and a beta of 1.51. The company has a current ratio of 2.31, a quick ratio of 1.36 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $88.86 and its 200 day moving average price is $79.40.
Woodward (NASDAQ:WWD) last issued its earnings results on Wednesday, November 18th. The technology company reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.21. Woodward had a return on equity of 15.51% and a net margin of 9.25%. As a group, sell-side analysts predict that Woodward, Inc. will post 3.72 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be issued a $0.081 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, November 13th. Woodward’s payout ratio is currently 6.56%.
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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