Swiss National Bank Decreases Stake in Howmet Aerospace Inc. (NYSE:HWM)

Swiss National Bank lowered its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,095,284 shares of the company’s stock after selling 55,700 shares during the period. Swiss National Bank’s holdings in Howmet Aerospace were worth $119,791,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Assetmark Inc. increased its position in Howmet Aerospace by 40.0% during the third quarter. Assetmark Inc. now owns 441 shares of the company’s stock valued at $44,000 after acquiring an additional 126 shares during the last quarter. Atria Investments Inc increased its position in Howmet Aerospace by 2.7% during the third quarter. Atria Investments Inc now owns 26,021 shares of the company’s stock valued at $2,609,000 after acquiring an additional 673 shares during the last quarter. Apollon Wealth Management LLC increased its position in Howmet Aerospace by 25.0% during the third quarter. Apollon Wealth Management LLC now owns 6,447 shares of the company’s stock valued at $646,000 after acquiring an additional 1,289 shares during the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in Howmet Aerospace during the third quarter valued at $201,000. Finally, Oppenheimer Asset Management Inc. increased its position in Howmet Aerospace by 1.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 72,317 shares of the company’s stock valued at $7,250,000 after acquiring an additional 737 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

NYSE:HWM opened at $126.56 on Friday. 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 $51.26 billion, a P/E ratio of 44.88, a P/E/G ratio of 1.92 and a beta of 1.54. Howmet Aerospace Inc. has a 12 month low of $62.80 and a 12 month high of $140.55. The business’s 50-day moving average is $126.39 and its 200 day moving average is $113.15.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. The company had revenue of $1.89 billion for 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%. On average, equities research analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a dividend of $0.10 per share. The ex-dividend date was Friday, February 7th. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. Howmet Aerospace’s dividend payout ratio is 14.18%.

Analysts Set New Price Targets

A number of analysts recently commented on HWM shares. Wells Fargo & Company upped their price objective on Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. 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. Morgan Stanley boosted their price target on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Barclays boosted their price target on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.