Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
Patel Sagar A
   2. Issuer Name and Ticker or Trading Symbol
Woodward, Inc. [WWD] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Pres. Air. Turb. Systems
(Last)
(First)
(Middle)
1081 WOODWARD WAY		 3. Date of Earliest Transaction (Month/Day/Year)
05/02/2019
(Street)

FORT COLLINS, CO 80524		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Woodward, Inc. Common Stock 05/02/2019   M   25,000 A $ 33.12 26,404.3 (1) D  
Woodward, Inc. Common Stock 05/02/2019   M   23,500 A $ 33.64 49,904.3 D  
Woodward, Inc. Common Stock 05/02/2019   M   24,500 A $ 25.57 74,404.3 D  
Woodward, Inc. Common Stock 05/02/2019   S   37,305 D $ 106.8812 (2) 37,099.3 D  
Woodward, Inc. Common Stock 05/02/2019   S   35,695 D $ 107.5823 (3) 1,404.3 D  
Woodward, Inc. Common Stock               1,314 I Woodward Retirement Savings Plan (4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Nonqualifed Stock Option (Right to Buy) $ 33.12 05/02/2019   M     25,000 06/27/2012(5) 06/27/2021(5) Woodward, Inc. Common Stock 25,000 $ 0 0 D  
Nonqualifed Stock Option (Right to Buy) $ 33.64 05/02/2019   M     23,500 10/01/2013(6) 10/01/2022(6) Woodward, Inc. Common Stock 23,500 $ 0 0 D  
Nonqualifed Stock Option (Right to Buy) $ 25.57 05/02/2019   M     24,500 10/03/2012(7) 10/03/2021(7) Woodward, Inc. Common Stock 24,500 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Patel Sagar A
1081 WOODWARD WAY
FORT COLLINS, CO 80524		       Pres. Air. Turb. Systems  

Signatures

 Rebecca L. Dees, by Power of Attorney   05/03/2019
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Total reflects 54.3 shares acquired upon reinvestment of dividends since the date of the reporting person's last Form 4 with Table I reporting.
(2) The reporting person sold shares in multiple same day, same way open market sales, with prices ranging from $106.26 to $107.24 per share. The reporting person has reported these sales on an aggregate basis using the weighted average price for the sales. The reporting person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
(3) The reporting person sold shares in multiple same day, same way open market sales, with prices ranging from $107.28 to $107.94 per share. The reporting person has reported these sales on an aggregate basis using the weighted average price for the sales. The reporting person undertakes to provide, upon request by the Securities and Exchange Commission staff, the Issuer or a security holder of the Issuer, full information regarding the number of shares sold at each separate price.
(4) The information in this report regarding the number of shares held by the reporting person in the Woodward Retirement Savings Plan (the "Plan") is based on a calculation as of May 2, 2019.
(5) Options, which expire June 27, 2021, became exercisable as to 25% of the shares on June 27, 2012, and each one-year anniversary thereafter.
(6) Options, which expire October 01, 2022, became exercisable as to 25% of the shares on October 1, 2013, and each one-year anniversary thereafter.
(7) Options, which expire October 3, 2021, became exercisable as to 25% of the shares on October 3, 2012, and each one-year anniversary thereafter.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.