BOCHK Asset Management Ltd Acquires Shares of 5,000 Howmet Aerospace Inc. (NYSE:HWM)

BOCHK Asset Management Ltd purchased a new stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,000 shares of the company's stock, valued at approximately $649,000. Howmet Aerospace accounts for about 0.4% of BOCHK Asset Management Ltd's investment portfolio, making the stock its 17th largest holding.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Howmet Aerospace during the 4th quarter worth $1,001,558,000. JPMorgan Chase & Co. lifted its stake in Howmet Aerospace by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company's stock worth $2,209,071,000 after purchasing an additional 2,486,649 shares during the last quarter. Winslow Capital Management LLC bought a new stake in Howmet Aerospace in the fourth quarter worth $265,844,000. GAMMA Investing LLC lifted its stake in Howmet Aerospace by 15,741.8% in the first quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company's stock worth $1,723,040,000 after purchasing an additional 1,319,792 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Howmet Aerospace by 10.3% in the fourth quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock worth $1,197,315,000 after purchasing an additional 1,026,130 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

Insider Activity at Howmet Aerospace

In related news, VP Barbara Lou Shultz sold 1,250 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $155.17, for a total transaction of $193,962.50. Following the completion of the transaction, the vice president directly owned 23,044 shares of the company's stock, valued at approximately $3,575,737.48. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John C. Plant sold 800,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the transaction, the chief executive officer directly owned 236,544 shares of the company's stock, valued at $37,127,946.24. The trade was a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 831,250 shares of company stock valued at $130,517,863. Corporate insiders own 1.12% of the company's stock.

Howmet Aerospace Stock Performance

HWM stock traded up $2.49 during midday trading on Wednesday, reaching $181.95. 827,681 shares of the company's stock traded hands, compared to its average volume of 2,802,872. Howmet Aerospace Inc. has a 52-week low of $77.22 and a 52-week high of $187.51. The stock has a market cap of $73.45 billion, a P/E ratio of 59.25, a PEG ratio of 2.72 and a beta of 1.43. The company has a current ratio of 2.30, a quick ratio of 1.07 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average is $168.40 and its 200 day moving average is $140.25.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Howmet Aerospace had a net margin of 16.64% and a return on equity of 27.25%. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The firm's revenue was up 5.5% on a year-over-year basis. As a group, analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were paid a $0.10 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.22%. Howmet Aerospace's dividend payout ratio (DPR) is presently 13.03%.

Wall Street Analyst Weigh In

HWM has been the subject of several recent research reports. BTIG Research reissued a "buy" rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Wells Fargo & Company boosted their price target on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Truist Financial boosted their price objective on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Northcoast Research upgraded shares of Howmet Aerospace from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace has an average rating of "Moderate Buy" and an average target price of $142.13.

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.