Capital Research & Management Co recently announced the acquisition of new stake in Woodward Inc. (NASDAQ:WWD). The institutional investor has increased its shareholding in the Industrials company by 0.09% to 7.06 million shares with purchase of 6411.0 shares. This fresh investment now brings its stake to 11.82% valued currently at $682.5 million. In addition, The Vanguard Group, Inc. raised its holdings by 17213.0 to 5.23 million shares. And Eagle Capital Management LLC has lifted its position by 2.51% or 0.11 million shares – to 4.34 million shares.
With over 0.42 million Woodward Inc. (WWD) shares trading Friday and a closing price of $107.65 on the day, the dollar volume was approximately $45.35 million. The shares have shown a positive half year performance of 20.00% and its price on 01/13/23 gained nearly 2.35%. Currently, there are 59.91M common shares owned by the public and among those 59.17M shares have been available to trade.
Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 178,603 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 20,046 shares.
The top 3 mutual fund holders in Woodward Inc. are American Funds AMCAP Fund, American Funds Insurance Series -, and iShares Core S&P Mid Cap ETF. American Funds AMCAP Fund owns 4.02 million shares of the company’s stock, all valued at over $388.62 million. iShares Core S&P Mid Cap ETF sold 354.0 shares to bring its total holdings to over 1.86 million shares at a value of $179.33 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 3.11% of the shares outstanding.
Shares of Woodward Inc. (NASDAQ: WWD) opened at $104.10, down -$1.08 from a prior closing price of $105.18. However, the script later moved the day high at 107.76, up 2.35%. The company’s stock has a 5-day price change of 5.34% and 27.47% over the past three months. WWD shares are trading 11.43% year to date (YTD), with the 12-month market performance down to -5.51% lower. It has a 12-month low price of $79.26 and touched a high of $129.12 over the same period. WWD has an average intraday trading volume of 298.06K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.14%, 11.83%, and 10.33% respectively.
Institutional ownership of Woodward Inc. (NASDAQ: WWD) shares accounts for 84.20% of the company’s 59.91M shares outstanding. Mutual fund holders own 50.32%, while other institutional holders and individual stakeholders account for 9.21% and 33.60% respectively.
It has a market capitalization of $6.28B and a beta (3y monthly) value of 1.48. The stock’s trailing 12-month PE ratio is 39.50, while the earnings-per-share (ttm) stands at $2.73. The company has a PEG of 1.82 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.41. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.26% over the week and 2.71% over the month.
Analysts forecast that Woodward Inc. (WWD) will achieve an EPS of $0.76 for the current quarter, $0.7 for the next quarter and $3.58 for 2023. The lowest estimate earnings-per-share for the quarter is $0.68 while analysts give the company a high EPS estimate of $0.84. Comparatively, EPS for the current quarter was $0.82 a year ago. Earnings per share for the fiscal year are expected to decrease by -14.70%, and 24.24% over the next financial year. EPS should grow at an annualized rate of 21.70% over the next five years, compared to -3.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Woodward Inc. (WWD) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 8 of the 10 advise that investors “hold,” and 1 rated it as a “Sell.”
Wolfe Research coverage for the Woodward Inc. (WWD) stock in a research note released on October 11, 2022 offered a Outperform rating with a price target of $100. Jefferies was of a view on September 14, 2022 that the stock is Hold, while Truist gave the stock Hold rating on August 02, 2022, issuing a price target of $121- $88. Truist on their part issued Buy rating on January 07, 2022.