Balboa Wealth Partners Acquires New Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Balboa Wealth Partners bought a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,748 shares of the company’s stock, valued at approximately $301,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised 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 acquiring an additional 1,336,592 shares during the last quarter. AustralianSuper Pty Ltd grew its position in shares of 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 during the period. Raymond James Financial Inc. acquired a new position in Howmet Aerospace in the fourth quarter valued at $61,740,000. Geode Capital Management LLC increased its stake 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 valued at $949,382,000 after purchasing an additional 453,275 shares during the last quarter. Finally, State Street Corp lifted its position in Howmet Aerospace by 2.3% during the third quarter. State Street Corp now owns 17,440,176 shares of the company’s stock worth $1,748,378,000 after buying an additional 384,171 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Trading Down 4.3 %

NYSE HWM opened at $122.43 on Friday. The stock has a market cap of $49.59 billion, a P/E ratio of 43.42, a PEG ratio of 1.92 and a beta of 1.54. The company’s fifty day simple moving average is $126.11 and its 200-day simple moving average is $112.94. 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 52 week low of $62.80 and a 52 week high of $140.55.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. Equities research 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 was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were paid a dividend of $0.10 per share. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s dividend payout ratio is 14.18%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Morgan Stanley upped 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. increased their price target 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. Truist Financial reiterated a “buy” rating and issued a $140.00 price target (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Barclays upped their price objective on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Finally, The Goldman Sachs Group lifted their target price on Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. One equities research 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, the stock has a consensus rating of “Moderate Buy” and an average target price 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.