30,205 Howmet Aerospace Inc. $HWM Shares Acquired by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management increased its Howmet Aerospace stake by 95%, acquiring 30,205 shares in the third quarter. It now holds 61,987 shares valued at about $14.0 million; institutional investors own 90.46% of the company.
• Howmet reported quarterly EPS of $1.46, beating the $1.37 consensus estimate, while revenue of $2.70 billion exceeded forecasts and rose 29.4% year over year.
• Analysts give Howmet a “Moderate Buy” consensus rating and an average price target of $295.81. The company also announced a quarterly dividend of $0.14 per share.

Elite Wealth Management Inc. raised its position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 95.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,987 shares of the company's stock after acquiring an additional 30,205 shares during the quarter. Howmet Aerospace comprises 2.7% of Elite Wealth Management Inc.'s investment portfolio, making the stock its 9th biggest holding. Elite Wealth Management Inc.'s holdings in Howmet Aerospace were worth $14,020,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. West Paces Advisors Inc. bought a new position in shares of Howmet Aerospace in the 2nd quarter worth about $27,000. Bartlett & CO. Wealth Management LLC lifted its stake in shares of Howmet Aerospace by 55.1% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 107 shares of the company's stock valued at $29,000 after purchasing an additional 38 shares during the period. Markowski Investments acquired a new position in shares of Howmet Aerospace in the 2nd quarter valued at about $29,000. Reyes Financial Architecture Inc. acquired a new position in shares of Howmet Aerospace in the 3rd quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC boosted its position in shares of Howmet Aerospace by 328.1% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 137 shares of the company's stock valued at $31,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 90.46% of the company's stock.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $205.79 on Monday. The business has a 50-day simple moving average of $223.40 and a 200 day simple moving average of $248.22. Howmet Aerospace Inc. has a one year low of $183.52 and a one year high of $310.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.86 and a quick ratio of 0.90. The firm has a market capitalization of $81.83 billion, a price-to-earnings ratio of 40.27, a PEG ratio of 1.50 and a beta of 1.31.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.09. Howmet Aerospace had a return on equity of 36.44% and a net margin of 21.10%. The business had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the prior year, the company earned $0.95 earnings per share. The company's quarterly revenue was up 29.4% on a year-over-year basis. On average, research analysts anticipate that Howmet Aerospace Inc. will post 5.49 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, November 6th. Howmet Aerospace's dividend payout ratio is presently 10.96%.

Analyst Ratings Changes

Several research firms recently commented on HWM. UBS Group decreased their target price on Howmet Aerospace from $255.00 to $230.00 and set a "neutral" rating for the company in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Howmet Aerospace from $338.00 to $343.00 and gave the company a "buy" rating in a research note on Friday, August 7th. Sanford C. Bernstein restated an "outperform" rating and set a $298.00 price target (down from $328.00) on shares of Howmet Aerospace in a report on Wednesday, October 7th. Weiss Ratings upgraded Howmet Aerospace from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 19th. Finally, Citigroup reaffirmed a "buy" rating on shares of Howmet Aerospace in a research report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $295.81.

Howmet Aerospace Profile

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks.

The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.

Howmet Aerospace became an independent company in 2020 following its separation from Arconic.

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