Bank of New York Mellon Corp Trims Stock Holdings in Howmet Aerospace Inc. $HWM

Key Points

• Bank of New York Mellon cut its Howmet Aerospace stake by 15% in the first quarter, selling 707,868 shares and ending with 4.0 million shares worth about $923.1 million.
• Howmet Aerospace reported strong quarterly results, with EPS of $1.22 beating estimates and revenue of $2.31 billion topping forecasts; revenue rose 19.1% from a year earlier.
• Wall Street remains broadly positive on HWM, with 18 Buy ratings and a consensus target price of $293.21, even as one insider recently sold shares and the stock trades near its 12-month high.

Bank of New York Mellon Corp reduced its position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 15.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,005,322 shares of the company's stock after selling 707,868 shares during the period. Bank of New York Mellon Corp owned 1.00% of Howmet Aerospace worth $923,067,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HWM. Illinois Municipal Retirement Fund increased its stake in shares of Howmet Aerospace by 10.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 5,658 shares of the company's stock valued at $1,304,000 after acquiring an additional 528 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Howmet Aerospace by 38.6% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 75,014 shares of the company's stock worth $17,288,000 after buying an additional 20,885 shares during the period. MASTERINVEST Kapitalanlage GmbH boosted its holdings in Howmet Aerospace by 11.8% in the 1st quarter. MASTERINVEST Kapitalanlage GmbH now owns 8,112 shares of the company's stock worth $1,869,000 after acquiring an additional 854 shares during the period. Checchi Capital Advisers LLC grew its holdings in Howmet Aerospace by 5.6% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,129 shares of the company's stock valued at $491,000 after purchasing an additional 112 shares in the last quarter. Finally, Avantax Planning Partners Inc. increased its position in shares of Howmet Aerospace by 2.9% during the first quarter. Avantax Planning Partners Inc. now owns 3,310 shares of the company's stock worth $763,000 after acquiring an additional 92 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Stock Performance

Shares of HWM opened at $278.91 on Thursday. The business's fifty day moving average price is $266.30 and its 200 day moving average price is $246.07. Howmet Aerospace Inc. has a 12-month low of $169.45 and a 12-month high of $290.63. The stock has a market capitalization of $111.59 billion, a PE ratio of 64.71, a price-to-earnings-growth ratio of 2.17 and a beta of 1.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.44 and a quick ratio of 1.59.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. Howmet Aerospace had a net margin of 20.23% and a return on equity of 29.27%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm's revenue for the quarter was up 19.1% compared to the same quarter last year. Howmet Aerospace has set its FY 2026 guidance at 4.880-5.000 EPS and its Q2 2026 guidance at 1.220-1.240 EPS. Equities research analysts forecast that Howmet Aerospace Inc. will post 5.05 EPS for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Friday, May 8th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, May 8th. This represents a $0.48 annualized dividend and a yield of 0.2%. Howmet Aerospace's dividend payout ratio is 11.14%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HWM shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $320.00 target price on shares of Howmet Aerospace in a research report on Friday, May 8th. Jefferies Financial Group lifted their price target on shares of Howmet Aerospace from $320.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Citigroup upped their price target on shares of Howmet Aerospace from $303.00 to $311.00 and gave the company a "buy" rating in a report on Wednesday, July 1st. Susquehanna increased their price objective on shares of Howmet Aerospace from $300.00 to $330.00 and gave the company a "positive" rating in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Howmet Aerospace from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 5th. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $293.21.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 41,932 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $269.50, for a total value of $11,300,674.00. Following the transaction, the executive vice president owned 65,105 shares of the company's stock, valued at $17,545,797.50. This trade represents a 39.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is currently owned by company insiders.

About Howmet Aerospace

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.

Want to see what other hedge funds are holding HWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Howmet Aerospace Inc. (NYSE:HWM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.