Howmet Aerospace Inc. (NYSE:HWM) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 17.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 788,688 shares of the company’s stock after purchasing an additional 117,770 shares during the quarter. Renaissance Technologies LLC owned 0.19% of Howmet Aerospace worth $86,259,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Howmet Aerospace by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company’s stock valued at $5,153,220,000 after buying an additional 352,256 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Howmet Aerospace by 14.0% in the 4th quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company’s stock valued at $2,209,071,000 after purchasing an additional 2,486,649 shares in the last quarter. Geode Capital Management LLC boosted its position in Howmet Aerospace by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company’s stock worth $1,070,267,000 after purchasing an additional 308,574 shares in the last quarter. Norges Bank acquired a new stake in Howmet Aerospace in the fourth quarter valued at approximately $1,001,558,000. Finally, Boston Partners increased its position in shares of Howmet Aerospace by 6.4% in the fourth 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 in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Trading Down 1.1 %

HWM opened at $114.49 on Wednesday. The stock has a market capitalization of $46.37 billion, a PE ratio of 40.60, a P/E/G ratio of 1.92 and a beta of 1.25. Howmet Aerospace Inc. has a one year low of $62.80 and a one 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. The business’s 50 day moving average price is $128.78 and its 200 day moving average price is $117.39.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. The business 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%. As a group, equities research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were issued a $0.10 dividend. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s dividend payout ratio is currently 14.18%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HWM shares. Morgan Stanley increased their target price on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their target price on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. The Goldman Sachs Group upped their price target on shares of 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 reiterated a “buy” rating and issued a $140.00 price objective (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Finally, Barclays raised their target price on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.28.

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.