PGGM Investments Purchases 8,675 Shares of Howmet Aerospace Inc. (NYSE:HWM)

PGGM Investments increased its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,161 shares of the company’s stock after acquiring an additional 8,675 shares during the period. PGGM Investments’ holdings in Howmet Aerospace were worth $12,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Howmet Aerospace by 8.2% in the third 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 during the period. AustralianSuper Pty Ltd grew its position in Howmet Aerospace by 1,000.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 930,533 shares of the company’s stock worth $101,772,000 after buying an additional 845,941 shares in the last quarter. Raymond James Financial Inc. bought a new position in Howmet Aerospace in the 4th quarter worth about $61,740,000. Geode Capital Management LLC increased 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 last quarter. Finally, State Street Corp raised its holdings in shares of Howmet Aerospace by 2.3% in the 3rd quarter. State Street Corp now owns 17,440,176 shares of the company’s stock valued at $1,748,378,000 after acquiring an additional 384,171 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HWM has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Bank of America increased their price target on shares of Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley raised their price objective on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Wells Fargo & Company upped their target price on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Truist Financial restated a “buy” rating and set a $140.00 price target (up previously from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.28.

Howmet Aerospace Stock Performance

Shares of HWM stock opened at $127.97 on Thursday. The company has a market capitalization of $51.83 billion, a P/E ratio of 45.38, a PEG ratio of 1.92 and a beta of 1.54. 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 debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. The stock has a 50 day moving average price of $125.88 and a two-hundred day moving average price of $112.87.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results 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 analyst estimates of $1.88 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. Analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were issued a dividend of $0.10 per share. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s dividend payout ratio is currently 14.18%.

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.