Franklin Resources Inc. Buys 209,492 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Franklin Resources Inc. grew its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 58.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 570,476 shares of the company's stock after purchasing an additional 209,492 shares during the period. Franklin Resources Inc. owned approximately 0.14% of Howmet Aerospace worth $58,559,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in Howmet Aerospace by 21.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 15,511 shares of the company's stock worth $1,204,000 after acquiring an additional 2,765 shares in the last quarter. Blue Trust Inc. raised its position in shares of Howmet Aerospace by 83.0% during the second quarter. Blue Trust Inc. now owns 1,691 shares of the company's stock worth $131,000 after purchasing an additional 767 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Howmet Aerospace by 11.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 26,104 shares of the company's stock valued at $2,026,000 after purchasing an additional 2,596 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Howmet Aerospace by 68.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 53,585 shares of the company's stock worth $4,160,000 after buying an additional 21,767 shares during the period. Finally, First Horizon Advisors Inc. increased its position in shares of Howmet Aerospace by 23.5% during the second quarter. First Horizon Advisors Inc. now owns 2,922 shares of the company's stock worth $227,000 after acquiring an additional 556 shares in the last quarter. Institutional investors own 90.46% of the company's stock.

Howmet Aerospace Stock Down 1.1 %

Howmet Aerospace stock traded down $1.28 during midday trading on Tuesday, hitting $112.00. 2,763,624 shares of the stock were exchanged, compared to its average volume of 2,892,997. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $45.50 billion, a price-to-earnings ratio of 43.24, a price-to-earnings-growth ratio of 1.56 and a beta of 1.48. Howmet Aerospace Inc. has a 52-week low of $52.56 and a 52-week high of $120.71. The business's 50-day moving average price is $110.24 and its 200-day moving average price is $96.36.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were paid a $0.08 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. Howmet Aerospace's dividend payout ratio (DPR) is presently 12.21%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. UBS Group boosted their target price on Howmet Aerospace from $103.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Wells Fargo & Company raised their price target on Howmet Aerospace from $129.00 to $132.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. KeyCorp cut shares of Howmet Aerospace from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $115.59.

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.