CIBC Private Wealth Group LLC Cuts Stake in Howmet Aerospace Inc. (NYSE:HWM)

CIBC Private Wealth Group LLC cut its stake in Howmet Aerospace Inc. (NYSE:HWM) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,112,734 shares of the company’s stock after selling 45,799 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Howmet Aerospace were worth $243,070,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp boosted its stake in shares of Howmet Aerospace by 12.1% in the third quarter. Stifel Financial Corp now owns 263,830 shares of the company’s stock worth $26,450,000 after acquiring an additional 28,568 shares during the last quarter. Vista Investment Partners LLC acquired a new stake in Howmet Aerospace during the 4th quarter worth $531,000. Genesis Private Wealth LLC purchased a new stake in shares of Howmet Aerospace during the fourth quarter worth $249,000. Ameritas Advisory Services LLC acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at about $289,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Howmet Aerospace by 303.1% in the fourth quarter. Geneos Wealth Management Inc. now owns 10,960 shares of the company’s stock worth $1,199,000 after buying an additional 8,241 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their price objective on Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial restated a “buy” rating and issued a $140.00 target price (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. The Goldman Sachs Group lifted their price target on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.28.

Howmet Aerospace Stock Down 2.1 %

NYSE:HWM opened at $129.61 on Friday. Howmet Aerospace Inc. has a 52 week low of $62.80 and a 52 week high of $140.55. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The stock’s fifty day moving average is $129.41 and its two-hundred day moving average is $115.89. The stock has a market capitalization of $52.50 billion, a price-to-earnings ratio of 45.96, a price-to-earnings-growth ratio of 1.92 and a beta of 1.54.

Howmet Aerospace (NYSE:HWM) last posted 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. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. Research analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were issued a $0.10 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s payout ratio is 14.18%.

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.