Truist Financial Raises Woodward (NASDAQ:WWD) Price Target to $229.00

Woodward (NASDAQ:WWD) had its price target boosted by Truist Financial from $226.00 to $229.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would suggest a potential upside of 25.62% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Barclays raised their target price on shares of Woodward from $175.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. UBS Group boosted their price target on shares of Woodward from $209.00 to $228.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company cut their price objective on shares of Woodward from $197.00 to $193.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 8th. TD Cowen reiterated a “hold” rating and set a $160.00 price objective (down previously from $186.00) on shares of Woodward in a research report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Woodward from $158.00 to $162.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.11.

Woodward Stock Up 1.2 %

Shares of NASDAQ:WWD traded up $2.20 during midday trading on Tuesday, reaching $182.30. The company’s stock had a trading volume of 35,211 shares, compared to its average volume of 419,906. The firm has a 50 day moving average of $174.84 and a 200-day moving average of $169.30. The firm has a market capitalization of $10.78 billion, a P/E ratio of 30.33, a PEG ratio of 1.85 and a beta of 1.39. The company has a quick ratio of 1.23, a current ratio of 1.89 and a debt-to-equity ratio of 0.26. Woodward has a 12-month low of $133.56 and a 12-month high of $201.64.

Woodward (NASDAQ:WWD) last posted its earnings results on Monday, November 25th. The technology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.19. The business had revenue of $855.00 million for the quarter, compared to analysts’ expectations of $810.39 million. Woodward had a net margin of 11.22% and a return on equity of 17.13%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. On average, research analysts anticipate that Woodward will post 5.98 earnings per share for the current year.

Insider Activity

In other Woodward news, Director John D. Cohn sold 2,400 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $179.57, for a total transaction of $430,968.00. Following the sale, the director now directly owns 20,963 shares in the company, valued at approximately $3,764,325.91. The trade was a 10.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Thomas G. Cromwell sold 10,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $177.65, for a total value of $1,776,500.00. Following the completion of the sale, the chief operating officer now owns 11,511 shares in the company, valued at $2,044,929.15. This represents a 46.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,313 shares of company stock worth $10,752,072. 0.82% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Woodward

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Woodward by 135.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 992,189 shares of the technology company’s stock valued at $170,170,000 after purchasing an additional 570,124 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Woodward during the third quarter valued at about $2,547,000. PEAK6 Investments LLC bought a new position in shares of Woodward in the third quarter worth about $2,448,000. Citigroup Inc. lifted its position in shares of Woodward by 12.1% during the 3rd quarter. Citigroup Inc. now owns 64,153 shares of the technology company’s stock worth $11,003,000 after purchasing an additional 6,917 shares during the last quarter. Finally, Ingalls & Snyder LLC acquired a new position in Woodward in the 3rd quarter valued at approximately $1,698,000. Institutional investors and hedge funds own 81.18% 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.