Jackson Square Partners LLC Trims Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Jackson Square Partners LLC lessened its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 30.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,093 shares of the company’s stock after selling 105,774 shares during the quarter. Howmet Aerospace makes up approximately 2.9% of Jackson Square Partners LLC’s investment portfolio, making the stock its 8th largest position. Jackson Square Partners LLC owned 0.06% of Howmet Aerospace worth $26,806,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp grew its stake in shares of Howmet Aerospace by 12.1% in the third quarter. Stifel Financial Corp now owns 263,830 shares of the company’s stock worth $26,450,000 after purchasing an additional 28,568 shares during the last quarter. Vista Investment Partners LLC bought a new position in shares of Howmet Aerospace during the fourth quarter worth about $531,000. Genesis Private Wealth LLC acquired a new position in shares of Howmet Aerospace in the 4th quarter valued at about $249,000. Ameritas Advisory Services LLC bought a new stake in shares of Howmet Aerospace during the 4th quarter valued at about $289,000. Finally, Geneos Wealth Management Inc. grew its stake in Howmet Aerospace by 303.1% during the fourth quarter. Geneos Wealth Management Inc. now owns 10,960 shares of the company’s stock worth $1,199,000 after purchasing an additional 8,241 shares during the period. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Trading Up 4.1 %

Shares of HWM opened at $136.23 on Tuesday. Howmet Aerospace Inc. has a 1-year low of $62.80 and a 1-year high of $140.55. The company has a market capitalization of $55.18 billion, a P/E ratio of 48.31, a P/E/G ratio of 1.92 and a beta of 1.54. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The firm’s 50 day simple moving average is $128.52 and its 200 day simple moving average is $114.90.

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

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were given a $0.10 dividend. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.29%. Howmet Aerospace’s payout ratio is presently 14.18%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price 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. JPMorgan Chase & Co. boosted their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Barclays increased their price objective on shares of Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Truist Financial restated a “buy” rating and issued a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a research note on Friday, February 14th. Finally, The Goldman Sachs Group increased their price target on Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock 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.