Prudential PLC Trims Stake in Howmet Aerospace Inc. (NYSE:HWM)

Prudential PLC reduced its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 49.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 15,188 shares of the company’s stock after selling 15,086 shares during the period. Prudential PLC’s holdings in Howmet Aerospace were worth $1,661,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HWM. Stifel Financial Corp increased its holdings in Howmet Aerospace by 12.1% in the third quarter. Stifel Financial Corp now owns 263,830 shares of the company’s stock valued at $26,450,000 after buying an additional 28,568 shares in the last quarter. Vista Investment Partners LLC acquired a new stake in shares of Howmet Aerospace in the fourth quarter worth approximately $531,000. Genesis Private Wealth LLC acquired a new position in Howmet Aerospace in the fourth quarter valued at $249,000. Ameritas Advisory Services LLC acquired a new position in shares of Howmet Aerospace in the 4th quarter valued at about $289,000. Finally, Geneos Wealth Management Inc. grew its stake in Howmet Aerospace by 303.1% during the fourth quarter. Geneos Wealth Management Inc. now owns 10,960 shares of the company’s stock worth $1,199,000 after buying an additional 8,241 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on HWM. The Goldman Sachs Group lifted their price objective on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their target price on Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Truist Financial reissued a “buy” rating and set a $140.00 price target (up previously from $130.00) on shares of Howmet Aerospace in a 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 report on Tuesday, February 18th. Finally, Morgan Stanley upped their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace has an average rating of “Moderate Buy” and an average target price of $123.28.

Howmet Aerospace Price Performance

NYSE HWM opened at $112.32 on Monday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. The stock has a 50-day simple moving average of $129.39 and a 200 day simple moving average of $117.16. The stock has a market capitalization of $45.49 billion, a PE ratio of 39.83, a P/E/G ratio of 1.92 and a beta of 1.25. 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 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 business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. Research 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. Stockholders of record on Friday, February 7th were given a $0.10 dividend. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s dividend payout ratio (DPR) is currently 14.18%.

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.