Allspring Global Investments Holdings LLC Reduces Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Allspring Global Investments Holdings LLC cut its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,699 shares of the company's stock after selling 18,595 shares during the period. Allspring Global Investments Holdings LLC's holdings in Howmet Aerospace were worth $13,040,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in HWM. Creative Planning boosted its holdings in Howmet Aerospace by 14.3% during the third quarter. Creative Planning now owns 52,170 shares of the company's stock worth $5,230,000 after purchasing an additional 6,537 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Howmet Aerospace by 5.7% during the third quarter. Vontobel Holding Ltd. now owns 3,876 shares of the company's stock worth $389,000 after purchasing an additional 208 shares during the last quarter. Blue Trust Inc. boosted its holdings in Howmet Aerospace by 50.3% during the third quarter. Blue Trust Inc. now owns 2,542 shares of the company's stock worth $255,000 after purchasing an additional 851 shares during the last quarter. Raymond James & Associates boosted its holdings in Howmet Aerospace by 10.5% during the third quarter. Raymond James & Associates now owns 421,142 shares of the company's stock worth $42,219,000 after purchasing an additional 39,933 shares during the last quarter. Finally, Clarus Group Inc. purchased a new position in Howmet Aerospace during the third quarter worth about $246,000. 90.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HWM has been the topic of several analyst reports. Truist Financial restated a "buy" rating and set a $140.00 price target (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Wells Fargo & Company boosted their price target on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. UBS Group boosted their price target on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Susquehanna boosted their target price on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a "positive" rating in a research note on Thursday, November 7th. Finally, Bank of America boosted their target price on shares of Howmet Aerospace from $100.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $123.28.

Howmet Aerospace Price Performance

Shares of NYSE:HWM traded down $8.61 during trading on Friday, reaching $129.83. The company had a trading volume of 3,517,780 shares, compared to its average volume of 2,751,625. The company has a fifty day moving average of $121.18 and a two-hundred day moving average of $109.59. The stock has a market capitalization of $52.58 billion, a P/E ratio of 46.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.50. Howmet Aerospace Inc. has a 12 month low of $62.80 and a 12 month high of $140.55. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.88 billion. Equities research analysts forecast that Howmet Aerospace Inc. will post 3.26 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be paid a $0.10 dividend. This is a boost from Howmet Aerospace's previous quarterly dividend of $0.08. The ex-dividend date is Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. Howmet Aerospace's dividend payout ratio is 14.18%.

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.