Scotia Capital Inc. increased its holdings in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 45.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 16,547 shares of the company's stock after acquiring an additional 5,149 shares during the period. Scotia Capital Inc.'s holdings in Howmet Aerospace were worth $1,810,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Howmet Aerospace by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company's stock worth $5,153,220,000 after purchasing an additional 352,256 shares during the period. JPMorgan Chase & Co. lifted its position in Howmet Aerospace by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company's stock valued at $2,209,071,000 after buying an additional 2,486,649 shares during the last quarter. Geode Capital Management LLC boosted its stake in Howmet Aerospace by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company's stock worth $1,070,267,000 after buying an additional 308,574 shares during the period. Norges Bank acquired a new stake in shares of Howmet Aerospace during the fourth quarter valued at about $1,001,558,000. Finally, Boston Partners raised its stake in shares of Howmet Aerospace by 6.4% in the 4th quarter. Boston Partners now owns 5,460,744 shares of the company's stock valued at $597,460,000 after acquiring an additional 326,719 shares during the period. Institutional investors and hedge funds own 90.46% of the company's stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on HWM. Barclays increased their price objective 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. JPMorgan Chase & Co. lifted their price objective on Howmet Aerospace from $125.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Northcoast Research raised Howmet Aerospace from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Truist Financial reaffirmed a "buy" rating and issued a $140.00 target price (up from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. Finally, Wells Fargo & Company reissued an "equal weight" rating and set a $118.00 price target (down previously from $132.00) on shares of Howmet Aerospace in a research report on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Howmet Aerospace has a consensus rating of "Moderate Buy" and a consensus price target of $122.50.
Read Our Latest Research Report on Howmet Aerospace
Howmet Aerospace Stock Down 2.4 %
Howmet Aerospace stock traded down $3.02 during midday trading on Tuesday, reaching $124.44. The company's stock had a trading volume of 3,606,718 shares, compared to its average volume of 2,753,410. The business has a 50-day simple moving average of $128.70 and a 200-day simple moving average of $118.39. The company has a market cap of $50.40 billion, a P/E ratio of 44.13, a P/E/G ratio of 1.92 and a beta of 1.25. 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 quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74.
Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to analysts' expectations 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 earnings per share for the current fiscal year.
Howmet Aerospace Dividend Announcement
The business 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 dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, May 9th. Howmet Aerospace's dividend payout ratio (DPR) is 14.18%.
About Howmet Aerospace
(
Free Report)
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.
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