Allianz Asset Management GmbH Trims Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Allianz Asset Management GmbH decreased its position in Howmet Aerospace Inc. (NYSE:HWMFree Report) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 128,158 shares of the company’s stock after selling 12,705 shares during the period. Allianz Asset Management GmbH’s holdings in Howmet Aerospace were worth $6,936,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Accurate Wealth Management LLC bought a new stake in shares of Howmet Aerospace in the fourth quarter valued at about $2,825,000. National Bank of Canada FI lifted its position in shares of Howmet Aerospace by 39.0% in the 4th quarter. National Bank of Canada FI now owns 120,557 shares of the company’s stock worth $6,477,000 after purchasing an additional 33,844 shares during the period. First Trust Direct Indexing L.P. boosted its stake in shares of Howmet Aerospace by 24.8% during the fourth quarter. First Trust Direct Indexing L.P. now owns 6,381 shares of the company’s stock valued at $345,000 after purchasing an additional 1,269 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Howmet Aerospace during the third quarter valued at approximately $1,697,000. Finally, QRG Capital Management Inc. bought a new position in Howmet Aerospace in the third quarter worth approximately $407,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on HWM shares. Truist Financial increased their target price on Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. The Goldman Sachs Group raised their price objective on Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Royal Bank of Canada boosted their target price on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their price target on shares of Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Finally, Robert W. Baird boosted their price objective on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

View Our Latest Analysis on Howmet Aerospace

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $82.29 on Wednesday. Howmet Aerospace Inc. has a 52 week low of $42.94 and a 52 week high of $85.52. The business’s 50 day moving average price is $73.67 and its 200 day moving average price is $63.72. The company has a quick ratio of 0.92, a current ratio of 1.97 and a debt-to-equity ratio of 0.86. The firm has a market cap of $33.59 billion, a P/E ratio of 39.75, a P/E/G ratio of 1.56 and a beta of 1.50.

Howmet Aerospace (NYSE:HWMGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, sell-side analysts expect that Howmet Aerospace Inc. will post 2.39 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Friday, May 10th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Howmet Aerospace’s dividend payout ratio is presently 9.66%.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $84.26, for a total value of $2,748,055.64. Following the sale, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at $18,342,306.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.12% of the stock is currently owned by insiders.

Howmet Aerospace Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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