PNC Financial Services Group Inc. Buys 3,087 Shares of Woodward, Inc. (NASDAQ:WWD)

PNC Financial Services Group Inc. grew its position in shares of Woodward, Inc. (NASDAQ:WWD) by 5.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,229 shares of the technology company’s stock after buying an additional 3,087 shares during the quarter. PNC Financial Services Group Inc. owned 0.10% of Woodward worth $9,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC bought a new position in Woodward in the 3rd quarter worth $31,000. AlphaCentric Advisors LLC bought a new position in shares of Woodward in the second quarter worth about $37,000. Capital Performance Advisors LLP bought a new position in shares of Woodward in the third quarter worth about $41,000. UMB Bank n.a. lifted its position in shares of Woodward by 101.6% during the 3rd quarter. UMB Bank n.a. now owns 246 shares of the technology company’s stock valued at $42,000 after buying an additional 124 shares in the last quarter. Finally, Versant Capital Management Inc bought a new position in shares of Woodward during the 2nd quarter valued at approximately $69,000. 81.18% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on WWD shares. The Goldman Sachs Group decreased their target price on shares of 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 upgraded shares of Woodward from a “hold” rating to a “buy” rating and lifted their target price for the company from $152.00 to $187.00 in a research note on Wednesday, August 21st. StockNews.com lowered Woodward from a “buy” rating to a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Woodward from $158.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Finally, Jefferies Financial Group raised Woodward from a “hold” rating to a “buy” rating and upped their price objective for the stock from $170.00 to $190.00 in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $174.67.

Woodward Trading Up 2.0 %

WWD stock opened at $176.05 on Friday. The firm has a fifty day moving average price of $167.60 and a 200 day moving average price of $170.94. Woodward, Inc. has a fifty-two week low of $129.46 and a fifty-two week high of $188.35. The firm has a market cap of $10.50 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.82 and a beta of 1.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.96.

Woodward Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, November 21st. Woodward’s dividend payout ratio is 16.72%.

Insider Activity at Woodward

In related news, COO Thomas G. Cromwell sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $174.50, for a total value of $1,745,000.00. Following the completion of the sale, the chief operating officer now directly owns 11,511 shares in the company, valued at $2,008,669.50. This trade represents a 46.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 27,913 shares of company stock valued at $4,907,304. Insiders own 1.12% of the company’s stock.

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.