Patton Fund Management Inc. lessened its holdings in Howmet Aerospace Inc. (NYSE:HWM – Free Report) by 63.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,111 shares of the company’s stock after selling 18,924 shares during the period. Patton Fund Management Inc.’s holdings in Howmet Aerospace were worth $2,561,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $1,793,698,000. Price T Rowe Associates Inc. MD increased its position in Howmet Aerospace by 27.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,632,206 shares of the company’s stock worth $3,409,936,000 after purchasing an additional 3,531,700 shares in the last quarter. Auto Owners Insurance Co increased its position in Howmet Aerospace by 20,402.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,441,906 shares of the company’s stock worth $29,562,000 after purchasing an additional 1,434,873 shares in the last quarter. Invesco Ltd. lifted its stake in Howmet Aerospace by 12.2% in the 3rd quarter. Invesco Ltd. now owns 7,367,438 shares of the company’s stock valued at $1,445,712,000 after purchasing an additional 801,093 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Howmet Aerospace by 27.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,754,204 shares of the company’s stock valued at $564,667,000 after purchasing an additional 599,151 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.
Howmet Aerospace Price Performance
Howmet Aerospace stock opened at $268.43 on Monday. The stock’s 50 day moving average is $259.42 and its 200 day moving average is $239.48. Howmet Aerospace Inc. has a one year low of $169.45 and a one year high of $290.63. The firm has a market cap of $107.40 billion, a P/E ratio of 62.28, a P/E/G ratio of 2.13 and a beta of 1.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.44 and a quick ratio of 1.59.
Howmet Aerospace Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Friday, May 8th were given a dividend of $0.12 per share. The ex-dividend date was Friday, May 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.2%. Howmet Aerospace’s dividend payout ratio is 11.14%.
Insiders Place Their Bets
In related news, EVP Neil Edward Marchuk sold 41,932 shares of Howmet Aerospace stock in a transaction on Monday, May 11th. The shares were sold at an average price of $269.50, for a total transaction of $11,300,674.00. Following the completion of the transaction, the executive vice president owned 65,105 shares of the company’s stock, valued at $17,545,797.50. This trade represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is owned by corporate insiders.
Analyst Ratings Changes
HWM has been the topic of a number of research analyst reports. Wolfe Research set a $270.00 target price on shares of Howmet Aerospace and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Susquehanna increased their price target on Howmet Aerospace from $300.00 to $330.00 and gave the company a “positive” rating in a research note on Friday, May 8th. BTIG Research raised their price objective on Howmet Aerospace from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on Howmet Aerospace from $265.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $320.00 target price on shares of Howmet Aerospace in a report on Friday, May 8th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $287.53.
Check Out Our Latest Research Report on HWM
About Howmet Aerospace
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.
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