Prudential Financial Inc. Cuts Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Prudential Financial Inc. trimmed its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 47.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 530,801 shares of the company’s stock after selling 476,226 shares during the quarter. Prudential Financial Inc. owned 0.13% of Howmet Aerospace worth $58,054,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Howmet Aerospace in the fourth quarter valued at approximately $26,000. Washington Trust Advisors Inc. acquired a new stake in Howmet Aerospace during the 4th quarter worth approximately $29,000. Global Trust Asset Management LLC purchased a new position in Howmet Aerospace in the 4th quarter valued at approximately $33,000. Hanson & Doremus Investment Management acquired a new position in shares of Howmet Aerospace in the fourth quarter worth $34,000. Finally, ORG Partners LLC purchased a new stake in shares of Howmet Aerospace during the fourth quarter worth $44,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Price Performance

HWM stock opened at $136.23 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $55.18 billion, a P/E ratio of 48.31, a PEG ratio of 1.92 and a beta of 1.54. The business has a 50 day simple moving average of $128.52 and a 200-day simple moving average of $114.90. Howmet Aerospace Inc. has a twelve month low of $62.80 and a twelve month high of $140.55.

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

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.29%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio (DPR) is currently 14.18%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Truist Financial reiterated a “buy” rating and issued a $140.00 target price (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. The Goldman Sachs Group boosted their price objective on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report 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 report on Wednesday, February 19th. Wells Fargo & Company lifted their price target on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Howmet Aerospace has an average 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.