First Pacific Advisors LP Cuts Stake in Howmet Aerospace Inc. (NYSE:HWM)

First Pacific Advisors LP lessened its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 729,258 shares of the company’s stock after selling 290,200 shares during the period. Howmet Aerospace comprises about 1.1% of First Pacific Advisors LP’s holdings, making the stock its 25th biggest position. First Pacific Advisors LP’s holdings in Howmet Aerospace were worth $79,759,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Howmet Aerospace by 8.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,711,497 shares of the company’s stock valued at $1,775,578,000 after acquiring an additional 1,336,592 shares during the period. State Street Corp grew its holdings in Howmet Aerospace by 2.3% during the third quarter. State Street Corp now owns 17,440,176 shares of the company’s stock valued at $1,748,378,000 after purchasing an additional 384,171 shares during the period. Geode Capital Management LLC grew its holdings in Howmet Aerospace by 5.0% during the third quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock valued at $949,382,000 after purchasing an additional 453,275 shares during the period. Charles Schwab Investment Management Inc. increased its position in Howmet Aerospace by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,351,189 shares of the company’s stock worth $257,150,000 after buying an additional 45,940 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Howmet Aerospace by 20.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,665,924 shares of the company’s stock valued at $182,202,000 after buying an additional 287,783 shares during the period. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of HWM opened at $124.70 on Monday. Howmet Aerospace Inc. has a 12-month low of $62.80 and a 12-month high of $140.55. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The company has a market cap of $50.51 billion, a PE ratio of 44.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.54. The stock has a 50-day moving average price of $124.95 and a 200-day moving average price of $112.39.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The business 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%. As a group, equities 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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio is currently 14.18%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley increased their price target on Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group increased their target price 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. JPMorgan Chase & Co. boosted their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Wells Fargo & Company raised their price objective on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Truist Financial reissued a “buy” rating and set a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Howmet Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace Company 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.