Truist Financial Corp Reduces Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Truist Financial Corp cut its stake in Howmet Aerospace Inc. (NYSE:HWM) by 8.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 60,163 shares of the company’s stock after selling 5,863 shares during the quarter. Truist Financial Corp’s holdings in Howmet Aerospace were worth $6,580,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in HWM. JPMorgan Chase & Co. grew its position in shares of Howmet Aerospace by 8.2% in the third 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. AustralianSuper Pty Ltd grew its position in Howmet Aerospace by 1,000.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 930,533 shares of the company’s stock worth $101,772,000 after acquiring an additional 845,941 shares during the period. Geode Capital Management LLC grew its position in Howmet Aerospace by 5.0% in the third quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock worth $949,382,000 after acquiring an additional 453,275 shares during the period. State Street Corp grew its position in Howmet Aerospace by 2.3% in the third quarter. State Street Corp now owns 17,440,176 shares of the company’s stock worth $1,748,378,000 after acquiring an additional 384,171 shares during the period. Finally, Retirement Systems of Alabama grew its position in Howmet Aerospace by 332.6% in the third quarter. Retirement Systems of Alabama now owns 370,027 shares of the company’s stock worth $37,095,000 after acquiring an additional 284,487 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HWM shares. JPMorgan Chase & Co. increased their price objective on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Barclays increased their price objective on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Bank of America increased their price objective on Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price objective on Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley increased their price objective on Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace Stock Down 6.2 %

Shares of NYSE HWM opened at $129.83 on Friday. The stock has a market cap of $52.58 billion, a P/E ratio of 46.04, a PEG ratio of 1.92 and a beta of 1.50. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. Howmet Aerospace Inc. has a 12-month low of $62.80 and a 12-month high of $140.55. The business’s fifty day simple moving average is $121.18 and its 200-day simple moving average is $109.74.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.74 earnings per share (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 analysts’ expectations 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 analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is 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 14.18%.

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.