LPL Financial LLC Decreases Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

LPL Financial LLC trimmed its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2.2% during the 2nd quarter, Holdings Channel reports. The fund owned 69,982 shares of the company’s stock after selling 1,579 shares during the period. LPL Financial LLC’s holdings in Howmet Aerospace were worth $3,468,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HWM. V Square Quantitative Management LLC purchased a new stake in shares of Howmet Aerospace during the 2nd quarter worth approximately $29,000. Financial Freedom LLC purchased a new stake in shares of Howmet Aerospace during the 4th quarter worth approximately $29,000. Clear Street Markets LLC raised its holdings in shares of Howmet Aerospace by 93.8% during the 1st quarter. Clear Street Markets LLC now owns 721 shares of the company’s stock worth $31,000 after acquiring an additional 349 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Howmet Aerospace by 117.8% during the 1st quarter. Global Retirement Partners LLC now owns 747 shares of the company’s stock worth $33,000 after acquiring an additional 404 shares in the last quarter. Finally, Optiver Holding B.V. purchased a new stake in Howmet Aerospace during the 1st quarter valued at $35,000. 88.67% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 80,000 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $50.06, for a total transaction of $4,004,800.00. Following the transaction, the executive vice president now owns 261,291 shares of the company’s stock, valued at approximately $13,080,227.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Robert W. Baird assumed coverage on Howmet Aerospace in a report on Monday, July 24th. They set an “outperform” rating and a $61.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Howmet Aerospace in a report on Wednesday, September 27th. They set a “buy” rating and a $59.00 price target on the stock. UBS Group assumed coverage on Howmet Aerospace in a report on Tuesday, October 10th. They set a “neutral” rating and a $51.00 price target on the stock. Northcoast Research assumed coverage on Howmet Aerospace in a report on Thursday, October 5th. They set a “neutral” rating on the stock. Finally, Truist Financial restated a “hold” rating and set a $47.00 price target on shares of Howmet Aerospace in a report on Friday, September 22nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $53.69.

Howmet Aerospace Price Performance

HWM opened at $48.72 on Tuesday. Howmet Aerospace Inc. has a 12-month low of $34.80 and a 12-month high of $51.34. The company has a current ratio of 2.22, a quick ratio of 1.00 and a debt-to-equity ratio of 1.07. The business’s fifty day simple moving average is $46.27 and its 200-day simple moving average is $46.73. The company has a market capitalization of $20.08 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 1.19 and a beta of 1.44.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Stockholders of record on Friday, November 10th will be given a dividend of $0.05 per share. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.41%. Howmet Aerospace’s dividend payout ratio is presently 15.87%.

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.