July 28, 2023 – Woodward, Inc. (NASDAQ:WWD) experienced a decrease in its ownership by Amalgamated Bank during the first quarter, according to the recent Form 13F filing with the Securities and Exchange Commission (SEC). The technology company’s stock saw a decline of 13.7%, with Amalgamated Bank selling off 6,460 shares. With this transaction, the bank now holds 40,848 shares of Woodward’s stock. As of its most recent SEC filing, these shares are valued at $3,977,000.
Woodward also recently announced its quarterly dividend which was distributed on Monday, June 5th. Shareholders as of record on Monday, May 22nd received a dividend of $0.22 per share. This equates to an annualized dividend amounting to $0.88 and a dividend yield of 0.74%. The ex-dividend date for this distribution was Friday, May 19th. Currently, Woodward’s dividend payout ratio (DPR) stands at 33.98%.
In recent times, WWD has been covered in various research reports which have shed light on its status in the market. Truist Financial conducted an analysis and upgraded Woodward’s target price from $97.00 to $110.00 while maintaining a “hold” rating for the stock in their research report published on Friday, July 21st. Barclays also increased its price objective for Woodward from $107.00 to $112.00 in their report on Tuesday, May 9th.
StockNews.com likewise revised their rating on Woodward from “hold” to “buy” in their report released on Thursday, July 20th. These reports contributed insights and recommendations that investors may find valuable when considering investing into Woodward.
Furthermore, TheStreet raised their rating for Woodward from “c” to “b-” in a report issued on Monday, May 1st. Additionally, Credit Suisse Group revised their price objective for the stock from $120.00 to $125.00 in their report published on Tuesday, May 2nd.
In totality, five analysts have assigned a hold rating to Woodward’s stock, while three have provided a buy rating for the company. According to data obtained from Bloomberg.com, Woodward currently holds an average rating of “Hold,” with a consensus target price of $105.88.
As the first quarter of 2023 has concluded, Amalgamated Bank’s reduction in their position within Woodward reflects a strategic move made by the bank. It is imperative for investors and market participants to stay informed about this development and the various research reports which can provide valuable guidance when making investment decisions in relation to Woodward’s stock.
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Investors and Directors Show Interest in Woodward’s Stock as Ownership Structure Changes
Woodward, Inc., a technology company specializing in aerospace and industrial systems, has seen significant changes in its ownership structure as several large investors have made adjustments to their positions. One notable investor is CWM LLC, which grew its position in Woodward by an impressive 265.4% during the first quarter of this year. With the acquisition of an additional 276 shares in the last quarter, CWM LLC now owns a total of 380 shares of Woodward’s stock, valued at $37,000.
Joining CWM LLC in increasing their stake in Woodward is TFC Financial Management Inc., which entered the scene by purchasing a new stake worth approximately $43,000 in the fourth quarter of last year. Johnson Financial Group Inc. followed suit with a new stake worth around $58,000 also acquired in the fourth quarter. State of Wyoming exhibited confidence in Woodward’s potential by growing its position in the company by 66.9% during the fourth quarter, owning 821 shares valued at $79,000 after acquiring an additional 329 shares.
Moreover, Captrust Financial Advisors increased its position by nearly 47% during the first quarter, now owning 877 shares worth $110,000 after acquiring an additional 280 shares. All these institutional investors and hedge funds own a staggering majority – approximately 81.39% – of Woodward’s stock.
However, it is not only large investors who are taking interest in Woodward’s stock; directors within the company have also been making moves. Director Rajeev Bhalla notably acquired 461 shares of Woodward’s stock on May 8th for a total transaction value of $49,894.03. The average price per share was $108.23 at that time. Following this purchase, Bhalla now possesses 1,380 shares valued at approximately $149,357.40.
Furthermore, director Ronald M. Sega made headlines when he sold his own stake, totaling 1,395 shares, in a transaction on May 18th. The average price per share sold was $111.20, resulting in a transaction worth $155,124.00. Sega still retains ownership of 13,689 shares in the company.
In terms of dividend payments, Woodward recently announced the payment of its quarterly dividend to investors on June 5th. Investors who were on record as of May 22nd received a dividend of $0.22 per share. Annually, this translates to a total dividend payout ratio (DPR) of 33.98%, giving shareholders a yield of approximately 0.74%. The ex-dividend date for this particular dividend was May 19th.
As for the stock’s performance, Woodward opened at $119.63 on Friday with a market capitalization of $7.18 billion. It has experienced substantial growth over the past year with a fifty-two week low at $79.26 and a fifty-two week high at $121.85. Currently trading above its fifty-day moving average price of $114.89 and two-hundred day moving average price of $105.55, Woodward exhibits strength and stability in the market.
Woodward’s most recent earnings report was released on May 1st and impressed analysts with better-than-expected results. The company posted earnings per share (EPS) of $1.01 for the quarter, surpassing consensus estimates by $0.24 per share which initially predicted an EPS of$0..77 Analysts prognosticated revenue to be around $648 million; however,Wooward’s revenues reached an impressive $718 million during the quarter.This marks an increaseof22% compared tothe same period last year.The report also highlighted thatWoodward achievedanet marginof6.l2%andareturnon equityof9-39proving itssolidfinancialperforrnanceandvibrancyinthemarket.
