Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 0.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,027,880 shares of the company’s stock after selling 39,164 shares during the period. Bank of New York Mellon Corp’s holdings in Howmet Aerospace were worth $659,269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RiverPark Advisors LLC purchased a new stake in shares of Howmet Aerospace during the 3rd quarter worth approximately $26,000. R Squared Ltd purchased a new stake in Howmet Aerospace during the fourth quarter worth $26,000. Hollencrest Capital Management purchased a new stake in Howmet Aerospace during the third quarter worth $30,000. Global Trust Asset Management LLC acquired a new stake in Howmet Aerospace in the fourth quarter valued at $33,000. Finally, Hanson & Doremus Investment Management purchased a new position in shares of Howmet Aerospace in the fourth quarter valued at $34,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective 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. Royal Bank of Canada upped their price target on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Bank of America lifted their price objective on Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, The Goldman Sachs Group increased their target price on Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.28.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $130.37 on Wednesday. The stock has a fifty day moving average price of $121.88 and a 200 day moving average price of $110.42. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. Howmet Aerospace Inc. has a 52 week low of $62.80 and a 52 week high of $140.55. The firm has a market capitalization of $52.80 billion, a P/E ratio of 46.23, a PEG ratio of 1.92 and a beta of 1.50.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. Equities research analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio (DPR) is currently 14.18%.

Howmet Aerospace Company 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.