Howmet Aerospace Inc. $HWM Stock Acquired by Kestra Advisory Services LLC

Kestra Advisory Services LLC boosted its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 11.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 64,234 shares of the company’s stock after purchasing an additional 6,677 shares during the quarter. Kestra Advisory Services LLC’s holdings in Howmet Aerospace were worth $14,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. West Paces Advisors Inc. acquired a new position in shares of Howmet Aerospace during the second quarter worth approximately $27,000. Bartlett & CO. Wealth Management LLC grew its stake in shares of Howmet Aerospace by 55.1% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 107 shares of the company’s stock worth $29,000 after acquiring an additional 38 shares during the last quarter. Markowski Investments acquired a new stake in shares of Howmet Aerospace in the second quarter worth $29,000. Retirement Wealth Solutions LLC grew its stake in shares of Howmet Aerospace by 328.1% in the third quarter. Retirement Wealth Solutions LLC now owns 137 shares of the company’s stock worth $31,000 after acquiring an additional 105 shares during the last quarter. Finally, Reyes Financial Architecture Inc. bought a new position in Howmet Aerospace during the third quarter worth $31,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HWM shares. Wells Fargo & Company cut their target price on shares of Howmet Aerospace from $315.00 to $255.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. Royal Bank Of Canada decreased their price target 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. UBS Group dropped their price objective on shares of Howmet Aerospace from $255.00 to $230.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Zacks Research lowered shares of Howmet Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Finally, Citigroup reiterated a “buy” rating on shares of Howmet Aerospace in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.81.

Howmet Aerospace Stock Performance

HWM opened at $205.79 on Monday. The stock has a market cap of $81.83 billion, a PE ratio of 40.27, a P/E/G ratio of 1.50 and a beta of 1.31. The company has a current ratio of 1.86, a quick ratio of 0.90 and a debt-to-equity ratio of 0.70. Howmet Aerospace Inc. has a 1 year low of $183.52 and a 1 year high of $310.00. The stock’s 50 day simple moving average is $223.40 and its 200-day simple moving average is $248.22.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, October 29th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.59 billion. Howmet Aerospace had a return on equity of 36.44% and a net margin of 21.10%. Howmet Aerospace’s revenue was up 29.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 earnings per share. Sell-side analysts forecast that Howmet Aerospace Inc. will post 5.49 EPS for the current year.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 6th will be issued 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 10.96%.

Howmet Aerospace Profile

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks.

The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.

Howmet Aerospace became an independent company in 2020 following its separation from Arconic.