LGT Fund Management Co Ltd. Makes New $320,000 Investment in Howmet Aerospace Inc. (NYSE:HWM)

LGT Fund Management Co Ltd. acquired a new position in Howmet Aerospace Inc. (NYSE:HWM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,925 shares of the company’s stock, valued at approximately $320,000.

Other institutional investors have also modified their holdings of the company. RiverPark Advisors LLC acquired a new stake in Howmet Aerospace in the 3rd quarter worth about $26,000. R Squared Ltd purchased a new position in Howmet Aerospace in the fourth quarter worth approximately $26,000. Hollencrest Capital Management acquired a new stake in shares of Howmet Aerospace during the 3rd quarter worth about $30,000. Global Trust Asset Management LLC acquired a new position in shares of Howmet Aerospace in the 4th quarter worth approximately $33,000. Finally, Hanson & Doremus Investment Management acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HWM shares. Truist Financial reiterated a “buy” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Howmet Aerospace in a research note on Friday, February 14th. Barclays upped their target price on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. Morgan Stanley raised their price objective on shares of Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Wells Fargo & Company boosted their target price on Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their price objective 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 assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.28.

Howmet Aerospace Trading Down 4.1 %

Shares of HWM stock opened at $131.04 on Tuesday. The stock has a 50-day simple moving average of $123.77 and a 200 day simple moving average of $111.52. The stock has a market capitalization of $53.07 billion, a P/E ratio of 46.47, a P/E/G ratio of 1.92 and a beta of 1.50. Howmet Aerospace Inc. has a fifty-two week low of $62.80 and a fifty-two week high of $140.55. 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 announced its earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. On average, sell-side analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a $0.10 dividend. 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 0.31%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s payout ratio 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.