Wellington Management Group LLP Decreases Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Wellington Management Group LLP cut its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 56.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 170,712 shares of the company’s stock after selling 220,586 shares during the quarter. Wellington Management Group LLP’s holdings in Howmet Aerospace were worth $9,239,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Howmet Aerospace by 118.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock worth $612,307,000 after buying an additional 7,184,620 shares during the last quarter. Norges Bank purchased a new stake in Howmet Aerospace during the fourth quarter valued at approximately $508,006,000. Capital World Investors lifted its stake in shares of Howmet Aerospace by 41.3% in the 4th quarter. Capital World Investors now owns 3,507,255 shares of the company’s stock valued at $189,813,000 after purchasing an additional 1,025,102 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Howmet Aerospace by 4.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,020,155 shares of the company’s stock worth $139,682,000 after purchasing an additional 114,939 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Howmet Aerospace by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,137,935 shares of the company’s stock valued at $115,705,000 after purchasing an additional 22,224 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on HWM shares. Argus lifted their price objective on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Benchmark reiterated a “buy” rating and set a $53.00 price target on shares of Howmet Aerospace in a report on Friday, April 19th. Royal Bank of Canada increased their price objective on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Truist Financial boosted their target price on Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company increased their price target on Howmet Aerospace from $72.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and an average price target of $75.88.

Howmet Aerospace Price Performance

NYSE HWM opened at $79.60 on Friday. The company has a market cap of $32.49 billion, a PE ratio of 38.45, a P/E/G ratio of 1.44 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 company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97. The firm’s 50 day moving average price is $78.59 and its 200-day moving average price is $66.87.

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

Howmet Aerospace Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 32,614 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $84.26, for a total value 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 approximately $18,342,306.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Company Profile

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.