South Street Advisors LLC trimmed its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 11.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,461 shares of the company's stock after selling 21,454 shares during the quarter. Howmet Aerospace accounts for about 2.5% of South Street Advisors LLC's holdings, making the stock its 17th largest position. South Street Advisors LLC's holdings in Howmet Aerospace were worth $16,287,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of HWM. JPMorgan Chase & Co. boosted its stake in Howmet Aerospace by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company's stock valued at $1,223,358,000 after acquiring an additional 2,813,911 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Howmet Aerospace by 28.8% in 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 buying an additional 3,158,186 shares during the last quarter. Lone Pine Capital LLC purchased a new position in shares of Howmet Aerospace during the 2nd quarter valued at $284,539,000. TD Asset Management Inc grew its stake in shares of Howmet Aerospace by 16.9% during the 2nd quarter. TD Asset Management Inc now owns 3,152,629 shares of the company's stock worth $244,739,000 after acquiring an additional 455,180 shares during the period. Finally, Capital Research Global Investors bought a new stake in Howmet Aerospace in the 1st quarter valued at about $148,996,000. 90.46% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
HWM has been the subject of a number of research reports. UBS Group increased their target price on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Barclays lifted their price objective on shares of Howmet Aerospace from $100.00 to $130.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Susquehanna raised their price target on Howmet Aerospace from $120.00 to $132.00 and gave the stock a "positive" rating in a report on Thursday, November 7th. Bank of America increased their price objective on Howmet Aerospace from $100.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Truist Financial lifted their target price on Howmet Aerospace from $123.00 to $128.00 and gave the company a "buy" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $115.41.
Check Out Our Latest Research Report on HWM
Insider Buying and Selling at Howmet Aerospace
In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were 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 in the company, valued at $14,982,938.30. This represents a 49.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the transaction, the executive vice president now owns 92,687 shares in the company, valued at approximately $8,985,077.78. This represents a 43.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.12% of the company's stock.
Howmet Aerospace Price Performance
Shares of HWM traded down $1.21 during midday trading on Friday, reaching $112.01. The stock had a trading volume of 2,221,703 shares, compared to its average volume of 2,935,654. The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $45.51 billion, a price-to-earnings ratio of 42.75, a price-to-earnings-growth ratio of 1.57 and a beta of 1.46. The company's 50-day moving average is $102.37 and its 200 day moving average is $90.95. Howmet Aerospace Inc. has a 12-month low of $51.22 and a 12-month high of $116.74.
Howmet Aerospace Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace's payout ratio is currently 12.21%.
Howmet Aerospace Profile
(
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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