Corebridge Financial Inc. Grows Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Corebridge Financial Inc. boosted its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 0.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,237 shares of the company’s stock after buying an additional 92 shares during the quarter. Corebridge Financial Inc.’s holdings in Howmet Aerospace were worth $11,291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HWM. JPMorgan Chase & Co. increased its holdings in shares of 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 acquiring an additional 1,336,592 shares during the last quarter. AustralianSuper Pty Ltd boosted its holdings in Howmet Aerospace by 1,000.0% in 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. purchased a new position in Howmet Aerospace in the fourth quarter valued at approximately $61,740,000. Sei Investments Co. raised its holdings in Howmet Aerospace by 82.4% during the fourth quarter. Sei Investments Co. now owns 1,106,586 shares of the company’s stock worth $121,026,000 after purchasing an additional 499,978 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position 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 during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Stock Up 1.1 %

Shares of NYSE:HWM opened at $137.64 on Wednesday. The stock has a 50-day simple moving average of $128.89 and a 200-day simple moving average of $115.23. The stock has a market capitalization of $55.75 billion, a P/E ratio of 48.81, a PEG ratio of 1.92 and a beta of 1.54. Howmet Aerospace Inc. has a 1 year low of $62.80 and a 1 year high of $140.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data 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. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Equities analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a $0.10 dividend. The ex-dividend date of this dividend 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 0.29%. Howmet Aerospace’s dividend payout ratio (DPR) is 14.18%.

Analyst Upgrades and Downgrades

Several research analysts have commented on HWM shares. 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 research report on Tuesday, February 18th. Truist Financial reissued a “buy” rating and set a $140.00 price objective (up from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. Morgan Stanley upped their target price on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised their price target on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Barclays upped their price objective on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and an average price target of $123.28.

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.