Invst LLC bought a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,294 shares of the company’s stock, valued at approximately $617,000.
A number of other hedge funds have also made changes to their positions in HWM. BlackRock Inc. bought a new stake in shares of Howmet Aerospace in the second quarter worth $12,318,939,000. State Street Corp boosted its stake in Howmet Aerospace by 2.2% during the 4th quarter. State Street Corp now owns 18,365,429 shares of the company’s stock valued at $3,765,280,000 after acquiring an additional 400,767 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 acquiring an additional 3,531,700 shares in the last quarter. Geode Capital Management LLC grew its holdings in Howmet Aerospace by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,307,538 shares of the company’s stock worth $2,316,277,000 after acquiring an additional 221,775 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Howmet Aerospace by 1.7% during the 1st quarter. Bank of America Corp DE now owns 10,728,447 shares of the company’s stock worth $2,472,478,000 after acquiring an additional 177,533 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.
Howmet Aerospace Stock Up 0.3%
Shares of NYSE:HWM opened at $264.17 on Wednesday. The company’s fifty day moving average is $278.18 and its two-hundred day moving average is $259.72. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.87 and a current ratio of 1.82. Howmet Aerospace Inc. has a 1-year low of $170.81 and a 1-year high of $310.00. The stock has a market capitalization of $105.70 billion, a price-to-earnings ratio of 56.93, a price-to-earnings-growth ratio of 1.88 and a beta of 1.20.
Howmet Aerospace Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Friday, August 7th were paid a $0.14 dividend. The ex-dividend date was Friday, August 7th. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 0.2%. Howmet Aerospace’s payout ratio is presently 12.07%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on HWM. Jefferies Financial Group restated a “buy” rating and issued a $370.00 target price on shares of Howmet Aerospace in a research note on Sunday, August 9th. Citigroup reiterated a “buy” rating on shares of Howmet Aerospace in a research note on Wednesday, August 12th. Weiss Ratings upgraded Howmet Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 19th. Wall Street Zen downgraded Howmet Aerospace from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $335.00 target price on shares of Howmet Aerospace in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $316.22.
Howmet Aerospace 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.
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