TD Waterhouse Canada Inc. Grows Stock Position in Howmet Aerospace Inc. $HWM

TD Waterhouse Canada Inc. raised its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 56.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,945 shares of the company’s stock after acquiring an additional 24,232 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Howmet Aerospace were worth $13,060,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Howmet Aerospace by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 48,475,394 shares of the company’s stock worth $9,022,725,000 after purchasing an additional 662,132 shares in the last quarter. JPMorgan Chase & Co. increased its position in Howmet Aerospace by 30.1% during the second quarter. JPMorgan Chase & Co. now owns 31,806,624 shares of the company’s stock worth $5,920,181,000 after buying an additional 7,356,077 shares in the last quarter. State Street Corp raised its holdings in shares of Howmet Aerospace by 1.2% in the second quarter. State Street Corp now owns 17,686,075 shares of the company’s stock worth $3,291,909,000 after acquiring an additional 205,424 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Howmet Aerospace by 7.0% in the second quarter. Geode Capital Management LLC now owns 10,938,815 shares of the company’s stock valued at $2,032,221,000 after acquiring an additional 719,888 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Howmet Aerospace in the second quarter valued at $1,633,157,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Down 0.9%

Shares of HWM opened at $208.96 on Friday. Howmet Aerospace Inc. has a fifty-two week low of $105.04 and a fifty-two week high of $226.87. The company’s fifty day moving average is $207.40 and its two-hundred day moving average is $195.21. The firm has a market cap of $84.01 billion, a PE ratio of 58.70, a price-to-earnings-growth ratio of 2.00 and a beta of 1.29. The company has a quick ratio of 1.14, a current ratio of 2.35 and a debt-to-equity ratio of 0.63.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, October 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.04. Howmet Aerospace had a return on equity of 29.21% and a net margin of 18.18%.The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. During the same period last year, the company posted $0.81 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. Analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, February 6th. Howmet Aerospace’s payout ratio is currently 13.48%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HWM shares. Citigroup boosted their target price on shares of Howmet Aerospace from $246.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Industrial Alliance Securities set a $240.00 price objective on shares of Howmet Aerospace in a research report on Monday, November 3rd. Sanford C. Bernstein reissued an “outperform” rating and set a $247.00 price objective on shares of Howmet Aerospace in a research note on Tuesday, January 6th. Royal Bank Of Canada lifted their target price on shares of Howmet Aerospace from $210.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, Truist Financial set a $258.00 price target on Howmet Aerospace in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Howmet Aerospace has an average rating of “Moderate Buy” and an average target price of $224.53.

About Howmet Aerospace

Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.

Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.