ProShare Advisors LLC Sells 2,240 Shares of Woodward, Inc. (NASDAQ:WWD)
ProShare Advisors LLC decreased its position in Woodward, Inc. (NASDAQ:WWD) by 20.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,821 shares of the technology company’s stock after selling 2,240 shares during the period. ProShare Advisors LLC’s holdings in Woodward were worth $596,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Woodward by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,190 shares of the technology company’s stock valued at $148,000 after purchasing an additional 190 shares during the last quarter. Diversified Trust Co purchased a new stake in Woodward in the 2nd quarter worth approximately $213,000. PNC Financial Services Group Inc. increased its holdings in Woodward by 66.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,178 shares of the technology company’s stock worth $217,000 after acquiring an additional 1,266 shares in the last quarter. HighTower Advisors LLC purchased a new stake in Woodward in the 1st quarter worth approximately $234,000. Finally, World Asset Management Inc increased its holdings in Woodward by 0.9% in the 1st quarter. World Asset Management Inc now owns 3,371 shares of the technology company’s stock worth $229,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 71.23% of the company’s stock.
A number of research firms have recently commented on WWD. BidaskClub upgraded Woodward from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. CL King initiated coverage on Woodward in a research report on Thursday, June 22nd. They issued a “buy” rating and a $79.00 price target for the company. CIBC initiated coverage on Woodward in a research note on Friday, July 14th. They issued an “outperform” rating and a $82.00 target price on the stock. Wood & Company reiterated a “buy” rating and issued a $80.00 target price on shares of Woodward in a research note on Tuesday, July 25th. Finally, Oppenheimer Holdings, Inc. began coverage on Woodward in a research note on Friday, July 14th. They set an “outperform” rating and a $82.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Woodward currently has a consensus rating of “Buy” and a consensus price target of $74.75.
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In other news, Director John A. Halbrook sold 8,700 shares of Woodward stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $70.02, for a total value of $609,174.00. Following the completion of the sale, the director now owns 350,521 shares of the company’s stock, valued at $24,543,480.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Paul Donovan sold 5,700 shares of Woodward stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $70.55, for a total value of $402,135.00. Following the completion of the sale, the director now directly owns 39,052 shares of the company’s stock, valued at approximately $2,755,118.60. The disclosure for this sale can be found here. Insiders sold a total of 16,200 shares of company stock valued at $1,138,389 over the last three months. Insiders own 5.93% of the company’s stock.
Shares of Woodward, Inc. (WWD) traded up 0.60% during midday trading on Friday, reaching $80.48. The company’s stock had a trading volume of 248,601 shares. Woodward, Inc. has a 12-month low of $57.09 and a 12-month high of $80.92. The company has a market cap of $4.93 billion, a P/E ratio of 25.31 and a beta of 1.24. The stock’s 50-day moving average price is $74.56 and its 200-day moving average price is $70.00.
Woodward (NASDAQ:WWD) last posted its quarterly earnings results on Monday, July 24th. The technology company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.76 by $0.09. The business had revenue of $548.62 million during the quarter, compared to analysts’ expectations of $530.89 million. Woodward had a return on equity of 16.12% and a net margin of 9.67%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. On average, analysts expect that Woodward, Inc. will post $3.10 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Monday, November 13th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.50 annualized dividend and a dividend yield of 0.62%. Woodward’s dividend payout ratio is currently 15.77%.
Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.
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