Woodward (NASDAQ:WWD) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Woodward (NASDAQ:WWD) from a buy rating to a hold rating in a research note released on Friday.

Several other equities analysts also recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Woodward from $228.00 to $201.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Truist Financial upgraded Woodward from a “hold” rating to a “buy” rating and raised their price target for the stock from $152.00 to $187.00 in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lifted their price target on Woodward from $158.00 to $162.00 and gave the stock a “hold” rating in a research report on Thursday, October 3rd. TD Cowen restated a “hold” rating and set a $160.00 target price (down from $186.00) on shares of Woodward in a research report on Friday, October 4th. Finally, Jefferies Financial Group upgraded shares of Woodward from a “hold” rating to a “buy” rating and upped their price target for the company from $170.00 to $190.00 in a research report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Woodward presently has an average rating of “Hold” and a consensus target price of $174.67.

Woodward Stock Down 1.7 %

Shares of NASDAQ:WWD traded down $2.77 during trading on Friday, hitting $161.32. 458,409 shares of the company were exchanged, compared to its average volume of 338,832. The firm’s 50 day moving average price is $165.27 and its 200-day moving average price is $169.03. Woodward has a 12-month low of $126.31 and a 12-month high of $188.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.96 and a quick ratio of 1.29. The stock has a market capitalization of $9.62 billion, a P/E ratio of 26.98, a PEG ratio of 1.74 and a beta of 1.38.

Woodward Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, November 21st. Woodward’s dividend payout ratio (DPR) is presently 16.72%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Bridges Investment Management Inc. grew its holdings in Woodward by 27.6% during the third quarter. Bridges Investment Management Inc. now owns 5,460 shares of the technology company’s stock worth $936,000 after acquiring an additional 1,180 shares during the period. Capital Performance Advisors LLP acquired a new position in Woodward during the third quarter worth about $41,000. Olympiad Research LP acquired a new position in Woodward during the third quarter worth about $286,000. Van ECK Associates Corp increased its holdings in Woodward by 40.0% in the third quarter. Van ECK Associates Corp now owns 35,274 shares of the technology company’s stock valued at $5,799,000 after buying an additional 10,080 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of Woodward by 2.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 27,288 shares of the technology company’s stock worth $4,680,000 after acquiring an additional 677 shares in the last quarter. 81.18% of the stock is owned by hedge funds and other institutional investors.

Woodward Company Profile

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.