South Street Advisors LLC Trims Stake in Howmet Aerospace Inc. (NYSE:HWM)

South Street Advisors LLC reduced its position in Howmet Aerospace Inc. (NYSE:HWM) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,906 shares of the company’s stock after selling 1,555 shares during the quarter. Howmet Aerospace makes up about 2.7% of South Street Advisors LLC’s investment portfolio, making the stock its 15th largest holding. South Street Advisors LLC’s holdings in Howmet Aerospace were worth $17,598,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HWM. R Squared Ltd bought a new position in shares of Howmet Aerospace in the fourth quarter worth approximately $26,000. Washington Trust Advisors Inc. bought a new position in shares of Howmet Aerospace in the fourth quarter worth approximately $29,000. Global Trust Asset Management LLC bought a new position in shares of Howmet Aerospace in the fourth quarter worth approximately $33,000. Hanson & Doremus Investment Management bought a new position in shares of Howmet Aerospace in the fourth quarter worth approximately $34,000. Finally, Assetmark Inc. boosted its position in shares of Howmet Aerospace by 40.0% in the third quarter. Assetmark Inc. now owns 441 shares of the company’s stock worth $44,000 after purchasing an additional 126 shares during the period. 90.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Wells Fargo & Company upped their target price on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. The Goldman Sachs Group raised their target price on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Morgan Stanley raised their target price 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. Finally, Barclays raised their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM opened at $129.28 on Tuesday. Howmet Aerospace Inc. has a 52 week low of $62.80 and a 52 week high of $140.55. The stock has a market capitalization of $52.36 billion, a P/E ratio of 45.84, a PEG ratio of 1.92 and a beta of 1.54. The firm has a fifty day simple moving average of $126.72 and a two-hundred day simple moving average of $113.60. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. On average, analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were paid a $0.10 dividend. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Friday, February 7th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 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.