Prudential Financial Inc. Lowers Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Prudential Financial Inc. lowered its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 47.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 530,801 shares of the company’s stock after selling 476,226 shares during the period. Prudential Financial Inc.’s holdings in Howmet Aerospace were worth $58,054,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in HWM. Vanguard Group Inc. increased its stake in shares of Howmet Aerospace by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company’s stock worth $5,153,220,000 after acquiring an additional 352,256 shares during the period. JPMorgan Chase & Co. boosted its holdings in Howmet Aerospace by 8.2% in the 3rd 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. State Street Corp increased its position in Howmet Aerospace by 2.3% during the 3rd quarter. State Street Corp now owns 17,440,176 shares of the company’s stock worth $1,748,378,000 after purchasing an additional 384,171 shares during the period. Geode Capital Management LLC raised its stake in shares of Howmet Aerospace by 5.0% during the 3rd 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 in the last quarter. Finally, Boston Partners lifted its holdings in shares of Howmet Aerospace by 6.4% in the 4th quarter. Boston Partners now owns 5,460,744 shares of the company’s stock valued at $597,460,000 after buying an additional 326,719 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HWM. Truist Financial reaffirmed 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. Barclays upped their price target on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Morgan Stanley raised 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. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group lifted their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. One 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, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average target price of $123.28.

Howmet Aerospace Trading Up 4.1 %

Shares of HWM stock opened at $136.23 on Tuesday. The company has a market capitalization of $55.18 billion, a price-to-earnings ratio of 48.31, a PEG ratio of 1.92 and a beta of 1.54. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $128.52 and a 200 day moving average price of $114.90. Howmet Aerospace Inc. has a twelve month low of $62.80 and a twelve month high of $140.55.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates 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. Research analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Friday, February 7th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio is currently 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.