Brookwood Investment Group LLC Purchases Shares of 2,624 Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Brookwood Investment Group LLC has invested in Howmet Aerospace Inc. by purchasing 2,624 shares, valued at around $340,000, according to their Form 13F filing.
• Several institutional investors increased their stakes during the 4th quarter, with JPMorgan Chase boosting its holdings by 14.0%, now owning over 20 million shares valued at over $2.2 billion.
• Analysts have raised price targets for Howmet Aerospace, with benchmarks set between $135.00 and $155.00, and a consensus target price of $150.44 indicating a strong buy sentiment.

Brookwood Investment Group LLC bought a new position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,624 shares of the company's stock, valued at approximately $340,000.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Howmet Aerospace by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company's stock valued at $2,209,071,000 after purchasing an additional 2,486,649 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Howmet Aerospace by 0.6% in the fourth 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 acquiring an additional 80,972 shares during the last quarter. 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 valued at $1,197,315,000 after acquiring an additional 1,026,130 shares during the last quarter. Geode Capital Management LLC lifted its stake in Howmet Aerospace by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company's stock valued at $1,070,267,000 after acquiring an additional 308,574 shares during the last quarter. Finally, Norges Bank acquired a new stake in Howmet Aerospace in the fourth quarter valued at $1,001,558,000. Institutional investors own 90.46% of the company's stock.

Howmet Aerospace Price Performance

HWM stock traded up $2.67 during mid-day trading on Friday, hitting $189.47. The stock had a trading volume of 1,915,589 shares, compared to its average volume of 3,735,684. The firm has a market capitalization of $76.48 billion, a P/E ratio of 61.72, a P/E/G ratio of 2.78 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 firm has a fifty day simple moving average of $176.10 and a 200 day simple moving average of $146.89. Howmet Aerospace Inc. has a 52 week low of $81.41 and a 52 week high of $191.60.

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

Insiders Place Their Bets

In other Howmet Aerospace news, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 30,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the completion of the transaction, the executive vice president owned 131,859 shares in the company, valued at $20,903,607.27. This trade represents a 18.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 831,250 shares of company stock valued at $130,517,863 in the last ninety days. 1.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HWM shares. Wall Street Zen cut shares of Howmet Aerospace from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Howmet Aerospace in a research note on Monday, June 30th. Morgan Stanley increased their price target on shares of Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. UBS Group raised their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Truist Financial raised their target price on shares of Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $150.44.

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.