Citizens Financial Group Inc. RI Purchases Shares of 1,939 Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Citizens Financial Group Inc. acquired 1,939 shares of Howmet Aerospace Inc. valued at approximately $252,000 in the first quarter.
• Company insiders, including CEO John C. Plant, sold significant portions of their stock, with Plant selling 800,000 shares for $125.57 million.
• Howmet Aerospace recently announced a quarterly dividend increase to $0.12 per share, showing a positive growth trend in their financial performance.

Citizens Financial Group Inc. RI purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,939 shares of the company's stock, valued at approximately $252,000.

Other large investors also recently modified their holdings of the company. Harbour Investments Inc. raised its position in Howmet Aerospace by 10.1% in the first quarter. Harbour Investments Inc. now owns 1,114 shares of the company's stock worth $145,000 after acquiring an additional 102 shares in the last quarter. PFG Advisors raised its position in Howmet Aerospace by 37.9% in the first quarter. PFG Advisors now owns 9,593 shares of the company's stock worth $1,245,000 after acquiring an additional 2,635 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Howmet Aerospace by 233.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 140,883 shares of the company's stock worth $18,277,000 after acquiring an additional 98,642 shares in the last quarter. Park Avenue Securities LLC raised its position in Howmet Aerospace by 126.1% in the first quarter. Park Avenue Securities LLC now owns 24,207 shares of the company's stock worth $3,140,000 after acquiring an additional 13,500 shares in the last quarter. Finally, Private Trust Co. NA raised its position in Howmet Aerospace by 65.4% in the first quarter. Private Trust Co. NA now owns 673 shares of the company's stock worth $87,000 after acquiring an additional 266 shares in the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BTIG Research set a $205.00 price target on shares of Howmet Aerospace and gave the stock a "buy" rating in a research report on Monday, August 4th. Bank of America lifted their target price on Howmet Aerospace from $185.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $150.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Barclays reissued an "overweight" rating and issued a $190.00 price target (up previously from $140.00) on shares of Howmet Aerospace in a research note on Monday, August 4th. Finally, Wall Street Zen raised Howmet Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $172.13.

Howmet Aerospace Stock Performance

HWM traded down $0.98 during trading on Monday, reaching $179.77. 1,448,513 shares of the company's stock were exchanged, compared to its average volume of 2,876,782. Howmet Aerospace Inc. has a fifty-two week low of $90.71 and a fifty-two week high of $193.26. The company has a quick ratio of 1.08, a current ratio of 2.31 and a debt-to-equity ratio of 0.65. The business has a 50 day moving average price of $179.68 and a 200 day moving average price of $151.78. The company has a market capitalization of $72.47 billion, a P/E ratio of 52.56, a PEG ratio of 2.31 and a beta of 1.48.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. The business's revenue was up 9.2% compared to the same quarter last year. As a group, analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. The ex-dividend date is Friday, August 8th. Howmet Aerospace's dividend payout ratio (DPR) is currently 14.04%.

Howmet Aerospace 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.