Principal Financial Group Inc. Reduces Position in Howmet Aerospace Inc. $HWM

Principal Financial Group Inc. decreased its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,957 shares of the company’s stock after selling 13,891 shares during the quarter. Principal Financial Group Inc. owned about 0.12% of Howmet Aerospace worth $93,397,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortem Financial Group LLC acquired a new position in shares of Howmet Aerospace in the 3rd quarter valued at $1,867,000. UMB Bank n.a. lifted its position in Howmet Aerospace by 14.2% during the 3rd quarter. UMB Bank n.a. now owns 1,579 shares of the company’s stock worth $310,000 after acquiring an additional 196 shares during the period. Hazlett Burt & Watson Inc. grew its stake in Howmet Aerospace by 288.9% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 490 shares of the company’s stock valued at $98,000 after purchasing an additional 364 shares during the last quarter. Independent Advisor Alliance increased its holdings in shares of Howmet Aerospace by 0.9% in the third quarter. Independent Advisor Alliance now owns 30,163 shares of the company’s stock valued at $5,919,000 after purchasing an additional 256 shares during the period. Finally, Everhart Financial Group Inc. increased its holdings in shares of Howmet Aerospace by 2.2% in the third quarter. Everhart Financial Group Inc. now owns 4,287 shares of the company’s stock valued at $841,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Trading Down 0.4%

HWM stock opened at $207.35 on Tuesday. Howmet Aerospace Inc. has a 52-week low of $105.04 and a 52-week high of $226.87. The company has a quick ratio of 1.14, a current ratio of 2.35 and a debt-to-equity ratio of 0.63. The firm has a market cap of $83.37 billion, a P/E ratio of 58.24, a PEG ratio of 1.97 and a beta of 1.26. The company’s 50-day simple moving average is $207.76 and its 200-day simple moving average is $195.66.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, February 6th. Howmet Aerospace’s dividend payout ratio is presently 13.48%.

Wall Street Analyst Weigh In

HWM has been the topic of a number of recent research reports. Bank of America upped their target price on Howmet Aerospace from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Royal Bank Of Canada raised their target price on shares of Howmet Aerospace from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. BNP Paribas Exane started coverage on shares of Howmet Aerospace in a report on Tuesday, November 18th. They issued an “outperform” rating and a $240.00 price target on the stock. The Goldman Sachs Group lifted their price objective on Howmet Aerospace from $205.00 to $226.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, BTIG Research boosted their price objective on Howmet Aerospace from $205.00 to $240.00 and gave the company a “buy” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $224.53.

Howmet Aerospace Company Profile

Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.

Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.