Howmet Aerospace Inc. $HWM Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in Howmet Aerospace Inc. (NYSE:HWM) by 2.0% in the third quarter, HoldingsChannel reports. The fund owned 256,063 shares of the company’s stock after selling 5,200 shares during the period. New York State Common Retirement Fund’s holdings in Howmet Aerospace were worth $50,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Howmet Aerospace by 5.4% during the fourth quarter. Brighton Jones LLC now owns 2,548 shares of the company’s stock worth $279,000 after buying an additional 130 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Howmet Aerospace in the first quarter valued at $399,000. Sivia Capital Partners LLC acquired a new position in shares of Howmet Aerospace in the second quarter worth about $216,000. Avior Wealth Management LLC purchased a new stake in shares of Howmet Aerospace during the 2nd quarter worth about $244,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Howmet Aerospace by 9.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 66,963 shares of the company’s stock valued at $12,464,000 after acquiring an additional 6,013 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

HWM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on Howmet Aerospace from $190.00 to $227.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Citigroup upped their target price on Howmet Aerospace from $246.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Royal Bank Of Canada increased their target price on Howmet Aerospace from $210.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Howmet Aerospace in a report on Thursday, January 22nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $247.00 price objective on shares of Howmet Aerospace in a report on Tuesday, January 6th. One 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $224.53.

Howmet Aerospace Trading Down 0.9%

Shares of HWM opened at $208.96 on Friday. Howmet Aerospace Inc. has a 52-week low of $105.04 and a 52-week high of $226.87. The stock 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 firm’s fifty day moving average is $207.40 and its two-hundred day moving average is $195.21. 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 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Howmet Aerospace had a net margin of 18.18% and a return on equity of 29.21%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.81 earnings per share. Research analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

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

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.