City Center Advisors LLC Reduces Holdings in Woodward, Inc. (NASDAQ:WWD)

City Center Advisors LLC trimmed its stake in shares of Woodward, Inc. (NASDAQ:WWD) by 13.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,870 shares of the technology company’s stock after selling 298 shares during the quarter. City Center Advisors LLC’s holdings in Woodward were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Fidelis Capital Partners LLC purchased a new position in shares of Woodward in the first quarter worth $31,000. AlphaCentric Advisors LLC purchased a new position in shares of Woodward in the second quarter valued at about $37,000. Mather Group LLC. bought a new position in shares of Woodward during the first quarter valued at about $34,000. Daiwa Securities Group Inc. bought a new position in shares of Woodward during the first quarter valued at about $46,000. Finally, Versant Capital Management Inc purchased a new stake in shares of Woodward during the second quarter worth about $69,000. 81.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group upgraded Woodward from a “hold” rating to a “buy” rating and boosted their price target for the company from $170.00 to $190.00 in a report on Wednesday, July 31st. The Goldman Sachs Group reduced their target price on Woodward from $228.00 to $201.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Truist Financial raised 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. StockNews.com raised shares of Woodward from a “hold” rating to a “buy” rating in a research report on Friday. Finally, TD Cowen reaffirmed a “hold” rating and issued a $160.00 target price (down from $186.00) on shares of Woodward in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Woodward has an average rating of “Moderate Buy” and an average target price of $174.67.

Woodward Stock Down 1.1 %

NASDAQ:WWD opened at $165.71 on Tuesday. 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 firm’s 50-day moving average price is $162.16 and its 200-day moving average price is $167.89. The company has a market capitalization of $9.89 billion, a PE ratio of 28.97, a P/E/G ratio of 1.74 and a beta of 1.37. Woodward, Inc. has a 1-year low of $119.03 and a 1-year high of $188.35.

Woodward (NASDAQ:WWD) last announced its earnings results on Monday, July 29th. The technology company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.11. Woodward had a net margin of 11.47% and a return on equity of 17.16%. The business had revenue of $847.69 million during the quarter, compared to the consensus estimate of $853.29 million. During the same quarter last year, the firm earned $1.37 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities analysts predict that Woodward, Inc. will post 5.91 EPS for the current fiscal year.

Woodward Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Thursday, November 21st. Woodward’s dividend payout ratio is presently 17.48%.

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.