Royal Bank of Canada Decreases Holdings in Woodward, Inc. (WWD)
Royal Bank of Canada reduced its stake in Woodward, Inc. (NASDAQ:WWD) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 918,629 shares of the technology company’s stock after selling 7,311 shares during the period. Royal Bank of Canada owned 1.50% of Woodward worth $62,081,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the business. Voya Investment Management LLC grew its position in shares of Woodward by 18.1% during the second quarter. Voya Investment Management LLC now owns 777,981 shares of the technology company’s stock worth $52,575,000 after acquiring an additional 119,164 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in Woodward by 1.3% during the 2nd quarter. Epoch Investment Partners Inc. now owns 767,496 shares of the technology company’s stock valued at $51,867,000 after purchasing an additional 9,985 shares during the period. Virtu KCG Holdings LLC boosted its stake in Woodward by 5.6% during the 2nd quarter. Virtu KCG Holdings LLC now owns 10,152 shares of the technology company’s stock valued at $686,000 after purchasing an additional 540 shares during the period. Ramsey Quantitative Systems acquired a new position in Woodward during the 2nd quarter valued at about $304,000. Finally, Advisor Group Inc. boosted its stake in Woodward by 9.8% during the 2nd quarter. Advisor Group Inc. now owns 1,654 shares of the technology company’s stock valued at $112,000 after purchasing an additional 147 shares during the period. Institutional investors own 71.23% of the company’s stock.
Shares of Woodward, Inc. (NASDAQ:WWD) traded down 0.34% during trading on Wednesday, reaching $79.20. The company’s stock had a trading volume of 31,397 shares. The company’s 50-day moving average is $71.95 and its 200-day moving average is $69.32. Woodward, Inc. has a 12 month low of $57.09 and a 12 month high of $79.73. The company has a market capitalization of $4.86 billion, a P/E ratio of 24.91 and a beta of 1.24.
Woodward (NASDAQ:WWD) last issued its quarterly earnings data on Monday, July 24th. The technology company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. Woodward had a net margin of 9.67% and a return on equity of 16.12%. The firm had revenue of $548.62 million for the quarter, compared to analyst estimates of $530.89 million. During the same quarter in the prior year, the firm earned $0.81 EPS. The company’s revenue was up 8.1% on a year-over-year basis. On average, analysts forecast that Woodward, Inc. will post $3.10 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Monday, November 13th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Friday, November 10th. Woodward’s dividend payout ratio is currently 15.77%.
In other Woodward news, Director John A. Halbrook sold 8,700 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $70.02, for a total transaction of $609,174.00. Following the transaction, the director now directly owns 350,521 shares in the company, valued at approximately $24,543,480.42. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul Donovan sold 5,700 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $70.55, for a total transaction of $402,135.00. Following the transaction, the director now owns 39,052 shares in the company, valued at $2,755,118.60. The disclosure for this sale can be found here. In the last three months, insiders sold 16,200 shares of company stock valued at $1,138,389. 5.93% of the stock is currently owned by company insiders.
WWD has been the subject of several recent analyst reports. BidaskClub upgraded shares of Woodward from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. CL King started coverage on Woodward in a report on Thursday, June 22nd. They set a “buy” rating and a $79.00 price target on the stock. CIBC assumed coverage on Woodward in a report on Friday, July 14th. They set an “outperform” rating and a $82.00 price target on the stock. Zacks Investment Research upgraded Woodward from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Wood & Company reiterated a “buy” rating and set a $80.00 price objective on shares of Woodward in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $74.75.
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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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