Sonora Investment Management Group LLC Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

Sonora Investment Management Group LLC bought a new position in Howmet Aerospace Inc. (NYSE:HWM) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,572 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently added to or reduced their stakes in HWM. Brighton Jones LLC increased its holdings in shares of Howmet Aerospace by 5.4% in the fourth quarter. Brighton Jones LLC now owns 2,548 shares of the company’s stock valued at $279,000 after buying an additional 130 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Howmet Aerospace by 40.4% in the fourth quarter. Apollon Wealth Management LLC now owns 9,049 shares of the company’s stock valued at $990,000 after buying an additional 2,602 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Howmet Aerospace by 39.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 6,932 shares of the company’s stock valued at $758,000 after buying an additional 1,970 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Howmet Aerospace by 9.5% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 8,097 shares of the company’s stock valued at $886,000 after buying an additional 700 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Howmet Aerospace by 10.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,812 shares of the company’s stock valued at $1,073,000 after buying an additional 963 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Trading Down 2.5%

NYSE HWM opened at $168.51 on Wednesday. Howmet Aerospace Inc. has a 1-year low of $76.83 and a 1-year high of $177.25. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $68.02 billion, a PE ratio of 59.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.44. The firm’s fifty day simple moving average is $148.05 and its 200-day simple moving average is $131.81.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. Howmet Aerospace’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, sell-side analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 9th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.24%. The ex-dividend date was Friday, May 9th. Howmet Aerospace’s payout ratio is 13.03%.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the transaction, the executive vice president now directly owns 131,859 shares of the company’s stock, valued at $20,903,607.27. This represents a 18.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $155.17, for a total transaction of $193,962.50. Following the sale, the vice president now owns 23,044 shares of the company’s stock, valued at $3,575,737.48. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 831,250 shares of company stock valued at $130,517,863 over the last three months. 1.04% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on HWM. Morgan Stanley upped their price target on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. upped their price target on Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. UBS Group upped their price target on Howmet Aerospace from $120.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Wells Fargo & Company increased their target price on Howmet Aerospace from $118.00 to $145.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Finally, Barclays increased their target price on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.59.

About Howmet Aerospace

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.