Kane Investment Management Inc. Makes New $895,000 Investment in Howmet Aerospace Inc. (NYSE:HWM)

Kane Investment Management Inc. purchased a new position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,180 shares of the company's stock, valued at approximately $895,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Howmet Aerospace in the fourth quarter valued at about $1,001,558,000. JPMorgan Chase & Co. increased its holdings in shares of Howmet Aerospace by 14.0% during the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company's stock worth $2,209,071,000 after purchasing an additional 2,486,649 shares during the period. Winslow Capital Management LLC acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $265,844,000. AustralianSuper Pty Ltd boosted its stake in shares of Howmet Aerospace by 1,000.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 930,533 shares of the company's stock valued at $101,772,000 after buying an additional 845,941 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Howmet Aerospace during the fourth quarter worth approximately $61,740,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HWM has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on Howmet Aerospace from $124.00 to $139.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Truist Financial cut their price target on shares of Howmet Aerospace from $140.00 to $136.00 and set a "buy" rating for the company in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, February 14th. Barclays lifted their price target on Howmet Aerospace from $130.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley raised their price objective on Howmet Aerospace from $125.00 to $155.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $122.28.

Howmet Aerospace Trading Down 0.6 %

Shares of HWM traded down $0.73 during trading hours on Friday, hitting $123.21. 2,188,892 shares of the stock were exchanged, compared to its average volume of 2,750,739. The business has a 50-day moving average of $128.53 and a 200-day moving average of $118.59. Howmet Aerospace Inc. has a fifty-two week low of $62.80 and a fifty-two week high of $140.55. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The firm has a market capitalization of $49.90 billion, a P/E ratio of 43.69, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. On average, research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 9th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, May 9th. Howmet Aerospace's payout ratio is 14.18%.

About Howmet Aerospace

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.