Independent Advisor Alliance Increases Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Independent Advisor Alliance grew its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,955 shares of the company’s stock after buying an additional 1,589 shares during the quarter. Independent Advisor Alliance’s holdings in Howmet Aerospace were worth $2,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp boosted its stake in shares of Howmet Aerospace by 12.1% in the 3rd quarter. Stifel Financial Corp now owns 263,830 shares of the company’s stock worth $26,450,000 after buying an additional 28,568 shares during the last quarter. Vista Investment Partners LLC purchased a new position in shares of Howmet Aerospace in the 4th quarter worth $531,000. Genesis Private Wealth LLC purchased a new position in shares of Howmet Aerospace in the 4th quarter worth $249,000. Oppenheimer & Co. Inc. boosted its stake in shares of Howmet Aerospace by 135.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 26,159 shares of the company’s stock worth $2,622,000 after buying an additional 15,070 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Howmet Aerospace in the 4th quarter worth $289,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

Shares of Howmet Aerospace stock opened at $127.97 on Thursday. The stock’s 50-day simple moving average is $125.88 and its 200-day simple moving average is $112.87. Howmet Aerospace Inc. has a 52 week low of $62.80 and a 52 week high of $140.55. The company has a market capitalization of $51.83 billion, a price-to-earnings ratio of 45.38, a PEG ratio of 1.92 and a beta of 1.54. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. As a group, analysts expect 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. Stockholders of record on Friday, February 7th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.31%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s payout ratio is 14.18%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Morgan Stanley lifted their target price on 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. lifted their target price on Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Truist Financial reiterated a “buy” rating and set a $140.00 target price (up from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. Finally, Barclays lifted their target price on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $123.28.

About Howmet Aerospace

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.