Goldman Sachs Group Inc. Sells 99,677 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Goldman Sachs Group Inc. lowered its position in Howmet Aerospace Inc. (NYSE:HWM) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,230,278 shares of the company’s stock after selling 99,677 shares during the period. Goldman Sachs Group Inc. owned 0.30% of Howmet Aerospace worth $66,583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Accurate Wealth Management LLC bought a new position in shares of Howmet Aerospace in the fourth quarter valued at approximately $2,825,000. National Bank of Canada FI lifted its holdings in shares of Howmet Aerospace by 39.0% in the fourth quarter. National Bank of Canada FI now owns 120,557 shares of the company’s stock valued at $6,477,000 after purchasing an additional 33,844 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Howmet Aerospace by 24.8% in the fourth quarter. First Trust Direct Indexing L.P. now owns 6,381 shares of the company’s stock valued at $345,000 after purchasing an additional 1,269 shares in the last quarter. Cullen Investment Group LTD. bought a new position in shares of Howmet Aerospace in the fourth quarter valued at approximately $703,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Howmet Aerospace in the third quarter valued at approximately $1,697,000. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

NYSE:HWM opened at $80.00 on Tuesday. The firm has a market capitalization of $32.65 billion, a price-to-earnings ratio of 38.65, a P/E/G ratio of 1.45 and a beta of 1.50. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $85.52. The stock has a fifty day moving average of $76.51 and a 200 day moving average of $65.66. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts expect that Howmet Aerospace Inc. will post 2.39 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Thursday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is currently 9.66%.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of Howmet Aerospace stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the completion of the sale, the executive vice president now owns 217,687 shares of the company’s stock, valued at $18,342,306.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HWM shares. Benchmark restated a “buy” rating and issued a $53.00 target price on shares of Howmet Aerospace in a report on Friday, April 19th. The Goldman Sachs Group lifted their price target on Howmet Aerospace from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Northcoast Research reiterated a “sell” rating and set a $70.00 price target on shares of Howmet Aerospace in a report on Friday. Argus lifted their price target on Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Truist Financial lifted their price target on Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $74.69.

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.