Woodward (NASDAQ:WWD) Price Target Cut to $201.00

Woodward (NASDAQ:WWD) had its price objective cut by analysts at The Goldman Sachs Group from $228.00 to $201.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 28.93% from the company’s current price.

A number of other research analysts have also weighed in on WWD. Jefferies Financial Group raised Woodward from a “hold” rating to a “buy” rating and increased their price target for the stock from $170.00 to $190.00 in a research note on Wednesday. Wells Fargo & Company raised their price target on Woodward from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 30th. TD Cowen dropped their price objective on shares of Woodward from $200.00 to $186.00 and set a “buy” rating for the company in a research note on Tuesday. Barclays increased their price objective on shares of Woodward from $140.00 to $175.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Finally, Truist Financial boosted their target price on shares of Woodward from $143.00 to $152.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Woodward presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.22.

Woodward Price Performance

Shares of WWD traded up $4.17 during trading hours on Wednesday, reaching $155.90. 281,457 shares of the company traded hands, compared to its average volume of 419,302. The stock has a market capitalization of $9.49 billion, a PE ratio of 27.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The stock has a fifty day simple moving average of $179.90 and a 200 day simple moving average of $160.39. Woodward has a fifty-two week low of $119.03 and a fifty-two week high of $188.35. The company has a quick ratio of 1.78, a current ratio of 2.62 and a debt-to-equity ratio of 0.28.

Woodward (NASDAQ:WWD) last released its quarterly earnings results on Monday, July 29th. The technology company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.11. The company had revenue of $847.69 million for the quarter, compared to analysts’ expectations of $853.29 million. Woodward had a net margin of 11.47% and a return on equity of 17.09%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $1.37 EPS. As a group, research analysts predict that Woodward will post 5.88 EPS for the current fiscal year.

Insider Transactions at Woodward

In other news, Director Gregg C. Sengstack sold 6,000 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $167.01, for a total value of $1,002,060.00. Following the transaction, the director now owns 17,450 shares of the company’s stock, valued at approximately $2,914,324.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted its position in shares of Woodward by 79.3% in the fourth quarter. Venturi Wealth Management LLC now owns 199 shares of the technology company’s stock worth $27,000 after buying an additional 88 shares during the period. Fidelis Capital Partners LLC acquired a new position in Woodward during the 1st quarter worth approximately $31,000. Principal Securities Inc. purchased a new position in Woodward in the 4th quarter worth approximately $34,000. Mather Group LLC. acquired a new stake in Woodward in the first quarter valued at approximately $34,000. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Woodward during the second quarter valued at approximately $37,000. 81.18% of the stock is owned by hedge funds and other institutional investors.

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.