CANADA LIFE ASSURANCE Co Increases Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

CANADA LIFE ASSURANCE Co increased its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 215,148 shares of the company's stock after purchasing an additional 43,680 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.05% of Howmet Aerospace worth $23,523,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Howmet Aerospace in the fourth quarter valued at $25,000. Meeder Asset Management Inc. lifted its stake in Howmet Aerospace by 208.1% in the fourth quarter. Meeder Asset Management Inc. now owns 228 shares of the company's stock worth $25,000 after purchasing an additional 154 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Howmet Aerospace during the fourth quarter valued at approximately $25,000. R Squared Ltd bought a new position in shares of Howmet Aerospace during the fourth quarter valued at approximately $26,000. Finally, Washington Trust Advisors Inc. purchased a new stake in shares of Howmet Aerospace in the fourth quarter worth approximately $29,000. 90.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Morgan Stanley upped their price objective on Howmet Aerospace from $125.00 to $155.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. The Goldman Sachs Group raised their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a "buy" rating in a research note on Tuesday, February 18th. Truist Financial lowered their price objective on shares of Howmet Aerospace from $140.00 to $136.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Barclays raised their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company reiterated an "equal weight" rating and issued a $118.00 price target (down previously from $132.00) on shares of Howmet Aerospace in a report on Tuesday, April 15th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $125.06.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM traded up $5.61 on Wednesday, hitting $129.91. 2,931,429 shares of the company were exchanged, compared to its average volume of 2,748,398. The firm has a market capitalization of $52.62 billion, a P/E ratio of 46.07, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. 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 Inc. has a 1-year low of $62.83 and a 1-year high of $140.55. The stock's 50 day moving average price is $128.16 and its 200 day moving average price is $119.15.

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 for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. Sell-side analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 9th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, May 9th. Howmet Aerospace's 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.