Charles P. Blankenship, chairman and chief executive officer of Woodward, Inc. (NASDAQ: WWD), completed a series of share sales totaling $3,845,466 on March 3 and March 4, 2026, according to a Form 4 filing with the Securities and Exchange Commission.
The dispositions were carried out under a Rule 10b5-1 trading plan that Blankenship adopted on December 2, 2025. The transactions were executed across multiple trades at prices ranging from $377.84 to $394.55 per share.
Concurrent with those sales, Blankenship exercised stock options to acquire 10,000 shares of Woodward common stock at an exercise price of $98.34 per share, representing a total exercise cost of $983,400.
Following the March transactions, Blankenship directly holds 65,829 shares of Woodward common stock. He additionally has an indirect holding of 407 shares through the Woodward Retirement Savings Plan, as reported in the filing.
Market context
Woodward shares were trading at $382.22 at the time of reporting, a level that reflects a 111% gain over the last 12 months. An InvestingPro analysis cited alongside the transaction data indicates the stock appears overvalued relative to its Fair Value, with a price-to-earnings ratio of 48.
Operational and financial backdrop
The insider activity coincides with Woodward reporting robust results for the first quarter of fiscal 2026. The company reported earnings per share of $2.17, surpassing the market projection of $1.66. Revenue for the quarter came in at $996 million versus an anticipated $890.37 million.
Following the stronger-than-expected quarter and raised guidance across all business segments, UBS responded by increasing its price target on Woodward to $417 while maintaining a Buy rating. Management, however, kept a conservative tone regarding expectations for the remainder of the fiscal year.
Corporate governance update
At Woodward’s annual meeting, shareholders elected three directors to three-year terms: David Hess, Mary Petryszyn, and Tana Utley. The company reported that each nominee received strong support, with affirmative votes substantially outnumbering votes against.
These interconnected developments - executive trading under a pre-established plan, option exercises, a sizable year-over-year share gain, an InvestingPro valuation note, an earnings beat with raised guidance across segments, a bullish UBS price-target adjustment, and recent board elections - together map the company’s recent corporate and market activity during the start of fiscal 2026.