Howmet Aerospace Inc. (NYSE:HWM) Shares Acquired by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 168.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,047 shares of the company's stock after acquiring an additional 9,432 shares during the quarter. Bleakley Financial Group LLC's holdings in Howmet Aerospace were worth $1,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in Howmet Aerospace by 18.7% during the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company's stock worth $1,223,358,000 after acquiring an additional 2,813,911 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Howmet Aerospace by 28.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company's stock worth $966,959,000 after purchasing an additional 3,158,186 shares during the last quarter. Lone Pine Capital LLC purchased a new stake in shares of Howmet Aerospace in the second quarter valued at $284,539,000. TD Asset Management Inc grew its position in shares of Howmet Aerospace by 16.9% in the second quarter. TD Asset Management Inc now owns 3,152,629 shares of the company's stock valued at $244,739,000 after purchasing an additional 455,180 shares during the period. Finally, Capital Research Global Investors acquired a new position in Howmet Aerospace in the first quarter valued at $148,996,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on HWM shares. Barclays raised their price target on Howmet Aerospace from $85.00 to $100.00 and gave the stock an "overweight" rating in a research note on Monday, August 5th. KeyCorp raised their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an "overweight" rating in a research report on Thursday, August 1st. Susquehanna initiated coverage on shares of Howmet Aerospace in a research report on Tuesday, October 8th. They set a "positive" rating and a $120.00 price target for the company. Truist Financial increased their price target on shares of Howmet Aerospace from $105.00 to $123.00 and gave the stock a "buy" rating in a research note on Friday. Finally, BTIG Research boosted their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a "buy" rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Howmet Aerospace has a consensus rating of "Moderate Buy" and a consensus target price of $97.75.

Insider Activity

In related news, CFO Ken Giacobbe sold 154,909 shares of the business's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the transaction, the executive vice president now directly owns 92,687 shares of the company's stock, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the business's stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the sale, the chief financial officer now directly owns 155,135 shares of the company's stock, valued at $14,982,938.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.12% of the company's stock.

Howmet Aerospace Stock Down 0.6 %

Shares of HWM stock traded down $0.67 during trading hours on Friday, reaching $105.54. The company had a trading volume of 1,706,598 shares, compared to its average volume of 2,988,055. The company has a market capitalization of $43.08 billion, a P/E ratio of 50.99, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. Howmet Aerospace Inc. has a twelve month low of $42.94 and a twelve month high of $106.76. The stock's fifty day simple moving average is $97.95 and its 200 day simple moving average is $85.47.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. Howmet Aerospace's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. As a group, sell-side analysts expect that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. Howmet Aerospace's payout ratio is currently 15.46%.

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.