Smithfield Trust Co Reduces Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Smithfield Trust Co cut its stake in Howmet Aerospace Inc. (NYSE:HWM) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,734 shares of the company’s stock after selling 118 shares during the period. Smithfield Trust Co’s holdings in Howmet Aerospace were worth $623,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. increased its stake in shares of Howmet Aerospace by 8.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,711,497 shares of the company’s stock worth $1,775,578,000 after purchasing an additional 1,336,592 shares in the last quarter. State Street Corp grew its stake in Howmet Aerospace by 2.3% in the 3rd quarter. State Street Corp now owns 17,440,176 shares of the company’s stock worth $1,748,378,000 after acquiring an additional 384,171 shares during the period. Geode Capital Management LLC grew its stake in Howmet Aerospace by 5.0% in the 3rd quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock worth $949,382,000 after acquiring an additional 453,275 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Howmet Aerospace by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,351,189 shares of the company’s stock worth $257,150,000 after acquiring an additional 45,940 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in Howmet Aerospace by 20.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,665,924 shares of the company’s stock worth $182,202,000 after acquiring an additional 287,783 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $130.38 on Thursday. 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 Inc. has a fifty-two week low of $62.80 and a fifty-two week high of $140.55. The firm has a 50-day simple moving average of $124.44 and a 200 day simple moving average of $111.87. The company has a market cap of $52.81 billion, a PE ratio of 46.23, a P/E/G ratio of 1.92 and a beta of 1.54.

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

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.31%. Howmet Aerospace’s dividend payout ratio (DPR) is 14.18%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HWM shares. Royal Bank of Canada lifted 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. Morgan Stanley lifted their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. lifted their target price on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Bank of America lifted their target price on shares of Howmet Aerospace from $100.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their price target 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace 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.