Legato Capital Management LLC boosted its position in Woodward, Inc. (NASDAQ:WWD) by 890.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,200 shares of the technology company’s stock after buying an additional 10,968 shares during the period. Legato Capital Management LLC’s holdings in Woodward were worth $824,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of WWD. Renaissance Technologies LLC bought a new position in Woodward during the fourth quarter worth $4,708,000. GSA Capital Partners LLP bought a new position in Woodward during the fourth quarter worth $275,000. Two Sigma Investments LP bought a new position in Woodward during the fourth quarter worth $1,026,000. Thrivent Financial for Lutherans increased its position in Woodward by 9.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,510 shares of the technology company’s stock worth $657,000 after buying an additional 840 shares in the last quarter. Finally, Norges Bank bought a new position in Woodward during the fourth quarter worth $36,373,000. Institutional investors and hedge funds own 71.09% of the company’s stock.
Shares of Woodward, Inc. (NASDAQ:WWD) opened at 70.91 on Wednesday. The firm has a market capitalization of $4.35 billion, a PE ratio of 22.30 and a beta of 1.21. Woodward, Inc. has a 52-week low of $57.09 and a 52-week high of $72.97. The stock has a 50 day moving average price of $68.80 and a 200-day moving average price of $68.71.
Woodward (NASDAQ:WWD) last announced its quarterly earnings data on Monday, July 24th. The technology company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.09. Woodward had a return on equity of 16.12% and a net margin of 9.67%. The business had revenue of $548.62 million during the quarter, compared to analyst estimates of $530.89 million. During the same period in the prior year, the company earned $0.81 earnings per share. Woodward’s revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that Woodward, Inc. will post $3.10 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Tuesday, August 22nd will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 0.71%. The ex-dividend date is Friday, August 18th. Woodward’s dividend payout ratio (DPR) is 15.77%.
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A number of research analysts have weighed in on WWD shares. CIBC started coverage on Woodward in a research note on Friday, July 14th. They issued an “outperform” rating and a $82.00 price target for the company. Wood & Company restated a “buy” rating and issued a $80.00 price target on shares of Woodward in a research note on Tuesday, July 25th. Oppenheimer Holdings, Inc. started coverage on Woodward in a research note on Friday, July 14th. They issued an “outperform” rating and a $82.00 price target for the company. Cowen and Company restated a “market perform” rating and issued a $62.00 price target (up from $58.00) on shares of Woodward in a research note on Friday, April 21st. Finally, BidaskClub cut Woodward from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Woodward has a consensus rating of “Hold” and an average target price of $73.89.
In other Woodward news, CFO Robert F. Weber, Jr. sold 7,500 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $66.49, for a total transaction of $498,675.00. Following the completion of the transaction, the chief financial officer now directly owns 34,053 shares of the company’s stock, valued at $2,264,183.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.93% of the stock is currently owned by corporate insiders.
Woodward, Inc is an independent designer, manufacturer and service provider of energy control and optimization solutions. The Company designs, produces and services energy control products for various applications. The Company’s segments include Aerospace and Industrial. The Company’s Aerospace segment designs, manufactures and services systems and products for the management of fuel, air, combustion and motion control.
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