Covenant Asset Management LLC Sells 1,101 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Covenant Asset Management LLC lessened its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,692 shares of the company’s stock after selling 1,101 shares during the quarter. Howmet Aerospace makes up 0.8% of Covenant Asset Management LLC’s portfolio, making the stock its 17th biggest position. Covenant Asset Management LLC’s holdings in Howmet Aerospace were worth $5,325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 1,336,592 shares during the period. AustralianSuper Pty Ltd boosted its holdings in shares of Howmet Aerospace by 1,000.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 930,533 shares of the company’s stock valued at $101,772,000 after buying an additional 845,941 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Howmet Aerospace by 695.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 558,017 shares of the company’s stock worth $55,941,000 after buying an additional 487,880 shares during the period. Geode Capital Management LLC increased its stake in shares of Howmet Aerospace by 5.0% in the 3rd 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 in the last quarter. Finally, State Street Corp grew its holdings 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 purchasing an additional 384,171 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on HWM shares. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada boosted their target price on Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their price target on Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. KeyCorp cut shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein raised their price objective on shares of Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.76.

Howmet Aerospace Trading Up 4.4 %

Shares of NYSE:HWM opened at $133.66 on Friday. The stock’s 50-day simple moving average is $118.75 and its two-hundred day simple moving average is $107.74. The stock has a market capitalization of $54.30 billion, a price-to-earnings ratio of 51.02, a PEG ratio of 1.45 and a beta of 1.50. Howmet Aerospace Inc. has a 52-week low of $62.70 and a 52-week high of $133.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24.

Howmet Aerospace (NYSE:HWM) last announced its earnings results 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. Howmet Aerospace had a net margin of 14.81% and a return on equity of 24.50%. Analysts expect that Howmet Aerospace Inc. will post 2.66 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be paid a dividend of $0.10 per share. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.30%. Howmet Aerospace’s payout ratio is 12.21%.

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.