State Street Corp increased its stake in shares of Howmet Aerospace Inc. (NYSE:HWM – Free Report) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,933,928 shares of the company’s stock after acquiring an additional 612,866 shares during the quarter. State Street Corp owned about 4.73% of Howmet Aerospace worth $5,090,576,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of HWM. MUFG Securities EMEA plc grew its position in shares of Howmet Aerospace by 752.6% during the fourth quarter. MUFG Securities EMEA plc now owns 65,783 shares of the company’s stock worth $13,487,000 after acquiring an additional 58,067 shares during the last quarter. Bearing Point Capital LLC boosted its stake in Howmet Aerospace by 9.5% during the 4th quarter. Bearing Point Capital LLC now owns 54,619 shares of the company’s stock worth $11,198,000 after purchasing an additional 4,757 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its stake in Howmet Aerospace by 95.3% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 24,338 shares of the company’s stock worth $5,609,000 after purchasing an additional 11,878 shares during the period. Pictet Asset Management Holding SA grew its position in Howmet Aerospace by 28.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 230,064 shares of the company’s stock worth $52,984,000 after purchasing an additional 51,169 shares during the last quarter. Finally, Man Group plc purchased a new position in Howmet Aerospace during the 2nd quarter worth $104,566,000. 90.46% of the stock is owned by hedge funds and other institutional investors.
Howmet Aerospace Stock Performance
NYSE HWM traded down $0.79 during trading hours on Tuesday, hitting $226.58. 1,059,666 shares of the stock were exchanged, compared to its average volume of 2,737,594. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 0.71. The company has a market cap of $90.66 billion, a price-to-earnings ratio of 48.86, a price-to-earnings-growth ratio of 2.07 and a beta of 1.19. Howmet Aerospace Inc. has a 12-month low of $183.83 and a 12-month high of $310.00. The stock has a 50-day moving average of $266.55 and a 200 day moving average of $259.17.
Howmet Aerospace Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Friday, August 7th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.2%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, August 7th. Howmet Aerospace’s dividend payout ratio is 12.07%.
Analysts Set New Price Targets
A number of brokerages have recently commented on HWM. Citigroup reaffirmed a “buy” rating on shares of Howmet Aerospace in a report on Tuesday, September 1st. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $310.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $315.00 price objective on shares of Howmet Aerospace in a research report on Monday, August 10th. Guggenheim initiated coverage on Howmet Aerospace in a research note on Monday, September 14th. They issued a “buy” rating and a $350.00 target price on the stock. Finally, Weiss Ratings raised Howmet Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Howmet Aerospace has a consensus rating of “Buy” and a consensus target price of $318.00.
Get Our Latest Analysis on Howmet Aerospace
Howmet Aerospace Profile
Howmet Aerospace Inc (NYSE:HWM) is an aerospace and industrial manufacturer that develops and produces engineered components for commercial and defense aircraft, as well as products for transportation, energy and other industrial markets. Its offerings include aircraft engine components, airframe structures, fastening systems and forged aluminum wheels for commercial transportation.
The company’s aerospace products include turbine airfoils, engine casings, structural components and other specialized parts designed to support aircraft performance and efficiency.
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