Algert Global LLC Trims Holdings in Woodward, Inc. (NASDAQ:WWD)

Algert Global LLC reduced its stake in Woodward, Inc. (NASDAQ:WWD) by 57.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,582 shares of the technology company’s stock after selling 39,659 shares during the quarter. Algert Global LLC’s holdings in Woodward were worth $5,074,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WWD. CIBC Asset Management Inc increased its position in Woodward by 3.5% during the third quarter. CIBC Asset Management Inc now owns 1,758 shares of the technology company’s stock worth $302,000 after purchasing an additional 59 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in 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 last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Woodward by 3.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,268 shares of the technology company’s stock valued at $570,000 after acquiring an additional 95 shares during the last quarter. Commerce Bank increased its stake in Woodward by 2.1% during the third quarter. Commerce Bank now owns 4,624 shares of the technology company’s stock worth $793,000 after acquiring an additional 95 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of Woodward by 101.6% in the 3rd quarter. UMB Bank n.a. now owns 246 shares of the technology company’s stock valued at $42,000 after purchasing an additional 124 shares during the last quarter. 81.18% of the stock is owned by institutional investors and hedge funds.

Woodward Trading Up 2.0 %

NASDAQ WWD opened at $176.05 on Monday. The firm’s fifty day moving average price is $167.82 and its 200 day moving average price is $170.87. Woodward, Inc. has a 12 month low of $129.46 and a 12 month high of $188.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.96 and a quick ratio of 1.29. The company has a market capitalization of $10.50 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 1.87 and a beta of 1.38.

Woodward Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued 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 is Thursday, November 21st. Woodward’s payout ratio is 16.72%.

Insider Transactions at Woodward

In related news, COO Thomas G. Cromwell sold 7,913 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $175.13, for a total transaction of $1,385,803.69. Following the completion of the sale, the chief operating officer now owns 11,511 shares in the company, valued at $2,015,921.43. This represents a 40.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 27,913 shares of company stock worth $4,907,304. Corporate insiders own 1.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WWD. Deutsche Bank Aktiengesellschaft upped their target price on shares of Woodward from $158.00 to $162.00 and gave the company a “hold” rating in a research report on Thursday, October 3rd. Jefferies Financial Group raised Woodward from a “hold” rating to a “buy” rating and boosted their target price for the company from $170.00 to $190.00 in a research report on Wednesday, July 31st. TD Cowen restated a “hold” rating and set a $160.00 price target (down from $186.00) on shares of Woodward in a research report on Friday, October 4th. Truist Financial raised Woodward from a “hold” rating to a “buy” rating and lifted their price objective for the company from $152.00 to $187.00 in a research note on Wednesday, August 21st. Finally, StockNews.com lowered shares of Woodward from a “buy” rating to a “hold” rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $174.67.

Woodward Company Profile

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.