Truist Financial Reiterates Buy Rating for Woodward (NASDAQ:WWD)

Woodward (NASDAQ:WWD)‘s stock had its “buy” rating reiterated by Truist Financial in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $226.00 price objective on the technology company’s stock, up from their previous price objective of $187.00. Truist Financial’s target price would indicate a potential upside of 26.22% from the stock’s previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group cut their price objective on Woodward from $228.00 to $201.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. StockNews.com lowered shares of Woodward from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Woodward from $158.00 to $162.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Jefferies Financial Group upgraded Woodward from a “hold” rating to a “buy” rating and upped their price target for the stock from $170.00 to $190.00 in a research note on Wednesday, July 31st. Finally, TD Cowen reaffirmed a “hold” rating and issued a $160.00 price objective (down from $186.00) on shares of Woodward in a research note on Friday, October 4th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $184.67.

Woodward Trading Down 4.4 %

Shares of Woodward stock opened at $179.05 on Tuesday. The stock has a 50 day moving average of $168.59 and a 200 day moving average of $170.94. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.29 and a current ratio of 1.96. The firm has a market capitalization of $10.68 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 1.91 and a beta of 1.38. Woodward has a fifty-two week low of $129.46 and a fifty-two week high of $201.64.

Insider Activity at Woodward

In other Woodward news, COO Thomas G. Cromwell sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 27,913 shares of company stock valued at $4,907,304 over the last quarter. 1.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WWD. CIBC Asset Management Inc boosted its position in shares of Woodward by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 1,758 shares of the technology company’s stock valued at $302,000 after purchasing an additional 59 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Woodward by 2.4% in the second quarter. Park Avenue Securities LLC now owns 3,277 shares of the technology company’s stock valued at $571,000 after acquiring an additional 76 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Woodward by 3.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,268 shares of the technology company’s stock worth $570,000 after acquiring an additional 95 shares during the last quarter. Commerce Bank increased its holdings in shares of Woodward by 2.1% in the 3rd quarter. Commerce Bank now owns 4,624 shares of the technology company’s stock valued at $793,000 after acquiring an additional 95 shares during the period. Finally, M&T Bank Corp raised its position in Woodward by 0.4% in the 3rd quarter. M&T Bank Corp now owns 28,734 shares of the technology company’s stock valued at $4,928,000 after purchasing an additional 108 shares during the last quarter. 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.