LGT Group Foundation raised its position in shares of Howmet Aerospace Inc. (NYSE:HWM – Free Report) by 58.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,314 shares of the company’s stock after buying an additional 7,478 shares during the period. LGT Group Foundation’s holdings in Howmet Aerospace were worth $3,958,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Traub Capital Management LLC acquired a new position in shares of Howmet Aerospace in the 2nd quarter worth approximately $25,000. Winnow Wealth LLC acquired a new stake in Howmet Aerospace during the 2nd quarter valued at $25,000. Newbridge Financial Services Group Inc. raised its position in Howmet Aerospace by 119.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 134 shares of the company’s stock valued at $25,000 after purchasing an additional 73 shares during the last quarter. Tradewinds Capital Management LLC boosted its stake in Howmet Aerospace by 52.0% in the third quarter. Tradewinds Capital Management LLC now owns 152 shares of the company’s stock worth $30,000 after purchasing an additional 52 shares in the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Howmet Aerospace during the second quarter worth $32,000. Institutional investors own 90.46% of the company’s stock.
Howmet Aerospace Trading Up 1.6%
HWM opened at $254.07 on Tuesday. The firm has a 50 day simple moving average of $230.14 and a 200 day simple moving average of $206.89. Howmet Aerospace Inc. has a fifty-two week low of $105.04 and a fifty-two week high of $267.31. The company has a market cap of $101.87 billion, a price-to-earnings ratio of 68.48, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.13 and a quick ratio of 1.09.
Howmet Aerospace Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 6th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, February 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.2%. Howmet Aerospace’s dividend payout ratio (DPR) is 12.94%.
Insider Activity
In other Howmet Aerospace news, VP Barbara Lou Shultz sold 1,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $260.00, for a total value of $260,000.00. Following the completion of the sale, the vice president directly owned 23,874 shares in the company, valued at $6,207,240. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 45,150 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $251.70, for a total value of $11,364,255.00. Following the completion of the transaction, the executive vice president owned 107,008 shares of the company’s stock, valued at $26,933,913.60. This represents a 29.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.12% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on HWM shares. BNP Paribas Exane assumed coverage on Howmet Aerospace in a report on Tuesday, November 18th. They issued an “outperform” rating and a $240.00 price target for the company. Wall Street Zen raised shares of Howmet Aerospace from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $227.00 to $265.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. UBS Group increased their price target on shares of Howmet Aerospace from $228.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Finally, Truist Financial set a $258.00 price objective on shares of Howmet Aerospace in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $252.95.
About Howmet Aerospace
Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.
Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.
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