Truist Financial Corp Sells 7,794 Shares of Howmet Aerospace Inc. $HWM

Truist Financial Corp lowered its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 12.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,386 shares of the company’s stock after selling 7,794 shares during the quarter. Truist Financial Corp’s holdings in Howmet Aerospace were worth $10,868,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in Howmet Aerospace by 5.4% in the 4th quarter. Brighton Jones LLC now owns 2,548 shares of the company’s stock valued at $279,000 after purchasing an additional 130 shares during the period. Acadian Asset Management LLC bought a new position in Howmet Aerospace during the first quarter valued at about $399,000. Sivia Capital Partners LLC bought a new position in Howmet Aerospace during the second quarter valued at about $216,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Howmet Aerospace by 31.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,376 shares of the company’s stock worth $15,333,000 after buying an additional 19,525 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Howmet Aerospace by 49.6% in the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,973 shares of the company’s stock worth $740,000 after acquiring an additional 1,317 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Stock Down 0.4%

Shares of HWM opened at $208.12 on Monday. The business’s 50 day moving average is $207.62 and its 200 day moving average is $195.53. Howmet Aerospace Inc. has a 12-month low of $105.04 and a 12-month high of $226.87. The company has a market capitalization of $83.68 billion, a PE ratio of 58.46, a price-to-earnings-growth ratio of 1.97 and a beta of 1.26. The company has a current ratio of 2.35, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

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

Howmet Aerospace Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on Howmet Aerospace from $205.00 to $226.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Susquehanna reissued a “positive” rating and set a $255.00 price objective on shares of Howmet Aerospace in a report on Thursday, January 15th. Royal Bank Of Canada increased their price target on shares of Howmet Aerospace from $210.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. UBS Group boosted their price objective on Howmet Aerospace from $199.00 to $209.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Finally, BNP Paribas Exane initiated coverage on Howmet Aerospace in a research note on Tuesday, November 18th. They issued an “outperform” rating and a $240.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $224.53.

Howmet Aerospace Company Profile

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.