Commonwealth Equity Services LLC Purchases 12,906 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Commonwealth Equity Services LLC lifted its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 14.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,753 shares of the company’s stock after purchasing an additional 12,906 shares during the period. Commonwealth Equity Services LLC’s holdings in Howmet Aerospace were worth $11,129,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HWM. JPMorgan Chase & Co. lifted its position in shares of Howmet Aerospace by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 17,711,497 shares of the company’s stock valued at $1,775,578,000 after purchasing an additional 1,336,592 shares in the last quarter. AustralianSuper Pty Ltd lifted its position in shares of Howmet Aerospace by 1,000.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 930,533 shares of the company’s stock valued at $101,772,000 after purchasing an additional 845,941 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Howmet Aerospace during the fourth quarter valued at about $61,740,000. Geode Capital Management LLC increased 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 worth $949,382,000 after buying an additional 453,275 shares during the last quarter. Finally, State Street Corp increased 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 worth $1,748,378,000 after buying an additional 384,171 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on HWM shares. Barclays raised their price objective on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. 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. Morgan Stanley raised their price objective on shares of Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Truist Financial restated a “buy” rating and set a $140.00 price objective (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $128.32 on Wednesday. The company has a 50 day moving average of $127.06 and a 200 day moving average of $113.83. The stock has a market cap of $51.97 billion, a P/E ratio of 45.50, a P/E/G ratio of 1.92 and a beta of 1.54. 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.

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. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. As a group, sell-side analysts forecast that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a dividend of $0.10 per share. The ex-dividend date was Friday, February 7th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 0.31%. Howmet Aerospace’s payout ratio is presently 14.18%.

Howmet Aerospace 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.