Howmet Aerospace Inc. $HWM Shares Sold by VestGen Advisors LLC

VestGen Advisors LLC reduced its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 69.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,631 shares of the company’s stock after selling 3,776 shares during the period. VestGen Advisors LLC’s holdings in Howmet Aerospace were worth $369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Howmet Aerospace during the second quarter valued at about $12,318,939,000. State Street Corp raised its position in Howmet Aerospace by 3.3% in the 2nd quarter. State Street Corp now owns 18,933,928 shares of the company’s stock valued at $5,090,576,000 after purchasing an additional 612,866 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Howmet Aerospace during the second quarter worth about $2,766,806,000. Jupiter Topco LLC acquired a new position in Howmet Aerospace during the 2nd quarter worth approximately $2,065,086,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Howmet Aerospace during the 2nd quarter worth about $1,099,765,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace News Roundup

Here are the key news stories impacting Howmet Aerospace this week:

• Positive Sentiment: KeyBanc upgraded Howmet Aerospace to Overweight following the third-quarter report, signaling confidence in the company’s earnings momentum and aerospace demand outlook. KeyBanc upgrades Howmet Aerospace to Overweight after Q3 report
• Positive Sentiment: Zacks said growth investors should not overlook HWM, citing above-average financial growth and the potential for the company to outperform the broader market. Howmet recently exceeded quarterly EPS and revenue estimates, with revenue rising 29.4% year over year. 3 Reasons Why Growth Investors Shouldn’t Overlook Howmet
• Neutral Sentiment: BTIG reduced its HWM price target to $280 from $340 but maintained a Buy rating. The lower target indicates reduced valuation expectations, while the rating still implies substantial potential upside from the referenced price level. BTIG Adjusts Price Target on Howmet Aerospace to $280 From $340
• Negative Sentiment: UBS lowered its price target to $230 from $255 and retained a Neutral rating, limiting the near-term bullish signal from the analyst community. UBS Group analyst recommendations
• Negative Sentiment: BNP Paribas Exane and Susquehanna also trimmed their price targets for Howmet, adding to concerns that the stock’s valuation and expectations may have moved ahead of near-term fundamentals. Howmet Aerospace Stock Gets Price Target Reduction from BNP Paribas Exane Howmet Aerospace Stock Gets Price Target Trim from Susquehanna

Howmet Aerospace Stock Up 6.9%

HWM stock opened at $212.89 on Tuesday. The company’s 50 day simple moving average is $227.83 and its 200-day simple moving average is $248.46. The firm has a market capitalization of $85.18 billion, a PE ratio of 42.90, a P/E/G ratio of 1.75 and a beta of 1.21. Howmet Aerospace Inc. has a 12 month low of $183.52 and a 12 month high of $310.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.82 and a quick ratio of 0.87.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.09. The firm had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.59 billion. Howmet Aerospace had a return on equity of 33.91% and a net margin of 20.52%. The company’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 EPS. Equities analysts expect that Howmet Aerospace Inc. will post 5.45 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 6th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, November 6th. Howmet Aerospace’s payout ratio is presently 10.96%.

Analyst Ratings Changes

HWM has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their target price on shares of Howmet Aerospace from $315.00 to $255.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 30th. Royal Bank Of Canada lowered their target price on shares of Howmet Aerospace from $350.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Morgan Stanley restated an “overweight” rating and issued a $335.00 price objective on shares of Howmet Aerospace in a research note on Monday, August 10th. Susquehanna decreased their target price on shares of Howmet Aerospace from $340.00 to $275.00 and set a “positive” rating for the company in a research note on Friday. Finally, BNP Paribas Exane decreased their price objective on Howmet Aerospace from $310.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $298.75.

About Howmet Aerospace

Howmet Aerospace Inc (NYSE:HWM) is a global manufacturer of advanced engineered products and materials primarily serving the aerospace, defense, commercial transportation and industrial markets. The company develops components designed to operate in demanding environments where strength, durability and weight reduction are important.

Howmet’s product portfolio includes aircraft engine components, airframe structures, titanium and nickel-based forgings, fastening systems and wheels for commercial vehicles.