Hartford Investment Management Co. Sells 439 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Hartford Investment Management Co. lessened its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 24,734 shares of the company’s stock after selling 439 shares during the period. Hartford Investment Management Co.’s holdings in Howmet Aerospace were worth $3,209,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. PFG Advisors boosted its stake in Howmet Aerospace by 37.9% during the 1st quarter. PFG Advisors now owns 9,593 shares of the company’s stock valued at $1,245,000 after purchasing an additional 2,635 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Howmet Aerospace by 233.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 140,883 shares of the company’s stock valued at $18,277,000 after purchasing an additional 98,642 shares during the period. Park Avenue Securities LLC boosted its stake in Howmet Aerospace by 126.1% during the 1st quarter. Park Avenue Securities LLC now owns 24,207 shares of the company’s stock valued at $3,140,000 after purchasing an additional 13,500 shares during the period. Private Trust Co. NA boosted its stake in Howmet Aerospace by 65.4% during the 1st quarter. Private Trust Co. NA now owns 673 shares of the company’s stock valued at $87,000 after purchasing an additional 266 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Howmet Aerospace by 11.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,532 shares of the company’s stock valued at $4,350,000 after purchasing an additional 3,465 shares during the period. Institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Northcoast Research upgraded Howmet Aerospace from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 9th. Benchmark upped their price target on Howmet Aerospace from $85.00 to $135.00 and gave the company a “buy” rating in a report on Monday, April 21st. Wells Fargo & Company upped their price target on Howmet Aerospace from $118.00 to $145.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Wall Street Zen raised Howmet Aerospace from a “hold” rating to a “buy” rating in a report on Saturday. Finally, BTIG Research reaffirmed a “buy” rating on shares of Howmet Aerospace in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $153.47.

Howmet Aerospace Stock Up 2.6%

NYSE HWM opened at $184.40 on Friday. The firm has a market cap of $74.44 billion, a PE ratio of 53.92, a price-to-earnings-growth ratio of 2.64 and a beta of 1.48. Howmet Aerospace Inc. has a one year low of $85.39 and a one year high of $193.26. The stock’s 50 day simple moving average is $178.35 and its 200 day simple moving average is $149.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.07.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.99 billion. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. Howmet Aerospace’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. As a group, sell-side analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be given a dividend of $0.12 per share. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. Howmet Aerospace’s dividend payout ratio is currently 13.03%.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the sale, the executive vice president directly owned 131,859 shares in the company, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total value of $193,962.50. Following the sale, the vice president owned 23,044 shares in the company, valued at approximately $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 a total of 831,250 shares of company stock worth $130,517,863 in the last three months. Insiders own 1.04% of the company’s stock.

Howmet Aerospace Profile

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.