KLP Kapitalforvaltning AS Invests $2.13 Million in Woodward, Inc. (NASDAQ:WWD)

KLP Kapitalforvaltning AS acquired a new stake in Woodward, Inc. (NASDAQ:WWD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,800 shares of the technology company’s stock, valued at approximately $2,130,000.

Several other institutional investors also recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in Woodward by 12.1% in the third quarter. Citigroup Inc. now owns 64,153 shares of the technology company’s stock valued at $11,003,000 after acquiring an additional 6,917 shares during the period. Cerity Partners LLC increased its holdings in Woodward by 165.5% in the third quarter. Cerity Partners LLC now owns 8,603 shares of the technology company’s stock valued at $1,476,000 after buying an additional 5,363 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of Woodward during the 3rd quarter valued at approximately $270,000. Bank of Montreal Can boosted its stake in shares of Woodward by 3.2% during the 3rd quarter. Bank of Montreal Can now owns 47,151 shares of the technology company’s stock worth $8,040,000 after acquiring an additional 1,455 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Woodward during the 3rd quarter worth approximately $69,000. 81.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WWD has been the subject of several research reports. UBS Group lifted their price objective on Woodward from $216.00 to $232.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company lifted their price target on Woodward from $193.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. StockNews.com raised shares of Woodward from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Barclays lifted their target price on shares of Woodward from $175.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial upped their price target on shares of Woodward from $226.00 to $229.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Woodward has a consensus rating of “Moderate Buy” and a consensus price target of $197.38.

Woodward Price Performance

Woodward stock opened at $188.03 on Friday. The stock has a market capitalization of $11.16 billion, a P/E ratio of 31.50, a P/E/G ratio of 2.37 and a beta of 1.39. Woodward, Inc. has a 12-month low of $144.45 and a 12-month high of $201.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.89 and a quick ratio of 1.19. The firm’s 50-day moving average is $186.17 and its two-hundred day moving average is $176.47.

Woodward (NASDAQ:WWD) last announced its earnings results on Monday, February 3rd. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.21. Woodward had a net margin of 11.18% and a return on equity of 16.76%. During the same quarter last year, the company earned $1.45 EPS. Equities analysts predict that Woodward, Inc. will post 6.15 earnings per share for the current year.

Woodward Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Thursday, February 20th were paid a $0.28 dividend. This is a positive change from Woodward’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, February 20th. Woodward’s dividend payout ratio is presently 18.76%.

Insider Buying and Selling

In other Woodward news, COO Thomas G. Cromwell sold 3,300 shares of the stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $194.36, for a total transaction of $641,388.00. Following the transaction, the chief operating officer now owns 15,477 shares of the company’s stock, valued at $3,008,109.72. This trade represents a 17.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregg C. Sengstack sold 4,600 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $187.86, for a total transaction of $864,156.00. Following the sale, the director now directly owns 17,450 shares of the company’s stock, valued at $3,278,157. This represents a 20.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,900 shares of company stock worth $5,215,444. 0.82% of the stock is owned by company insiders.

About Woodward

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.