Boston Partners Sells 1,116,384 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Boston Partners has reduced its stake in Howmet Aerospace by 20.4%, selling 1,116,384 shares and now owning 4.34 million shares worth approximately $563.5 million.
• In recent broker reports, several analysts have raised their price targets for Howmet Aerospace, with Truist Financial setting a target of $192.00 and Barclays at $190.00.
• Howmet Aerospace has also announced an increase in its quarterly dividend from $0.10 to $0.12, reflecting a positive change in its dividend payout strategy.

Boston Partners reduced its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 20.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,344,360 shares of the company's stock after selling 1,116,384 shares during the period. Boston Partners owned 1.08% of Howmet Aerospace worth $563,535,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HWM. Vanguard Group Inc. lifted its holdings in Howmet Aerospace by 1.5% during the first quarter. Vanguard Group Inc. now owns 47,813,262 shares of the company's stock valued at $6,202,814,000 after purchasing an additional 695,953 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Howmet Aerospace by 21.1% in the first quarter. JPMorgan Chase & Co. now owns 24,450,547 shares of the company's stock worth $3,171,970,000 after purchasing an additional 4,252,401 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Howmet Aerospace by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company's stock valued at $1,445,210,000 after purchasing an additional 80,972 shares during the period. Janus Henderson Group PLC raised its position in shares of Howmet Aerospace by 10.3% during the 4th quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock valued at $1,197,315,000 after purchasing an additional 1,026,130 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Howmet Aerospace by 8.3% during the 1st quarter. Invesco Ltd. now owns 7,315,238 shares of the company's stock valued at $949,006,000 after buying an additional 563,109 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on HWM. Truist Financial increased their price target on Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Barclays reaffirmed an "overweight" rating and issued a $190.00 price objective (up previously from $140.00) on shares of Howmet Aerospace in a research note on Monday, August 4th. Wells Fargo & Company lifted their target price on Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. BTIG Research set a $205.00 price target on Howmet Aerospace and gave the stock a "buy" rating in a research note on Monday, August 4th. Finally, Morgan Stanley upped their price target on Howmet Aerospace from $170.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Howmet Aerospace currently has a consensus rating of "Moderate Buy" and a consensus target price of $172.13.

Howmet Aerospace Stock Performance

NYSE HWM opened at $180.85 on Wednesday. The stock has a market capitalization of $72.91 billion, a PE ratio of 52.88, a P/E/G ratio of 2.30 and a beta of 1.48. The business has a 50 day simple moving average of $179.84 and a two-hundred day simple moving average of $151.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.08. Howmet Aerospace Inc. has a 1-year low of $90.71 and a 1-year high of $193.26.

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

Howmet Aerospace Increases Dividend

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

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