Burney Co. Purchases 84,954 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Burney Co. boosted its position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 402.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 106,044 shares of the company's stock after buying an additional 84,954 shares during the quarter. Burney Co.'s holdings in Howmet Aerospace were worth $13,757,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Howmet Aerospace in the 4th quarter worth about $1,001,558,000. JPMorgan Chase & Co. grew its position in shares of Howmet Aerospace by 14.0% in the 4th quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company's stock worth $2,209,071,000 after buying an additional 2,486,649 shares during the period. Winslow Capital Management LLC bought a new position in Howmet Aerospace in the 4th quarter worth about $265,844,000. GAMMA Investing LLC boosted its stake in Howmet Aerospace by 15,741.8% in the 1st 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 in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in Howmet Aerospace by 10.3% in the 4th 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 in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $183.54 on Wednesday. The company has a current ratio of 2.30, a quick ratio of 1.07 and a debt-to-equity ratio of 0.70. Howmet Aerospace Inc. has a twelve month low of $79.49 and a twelve month high of $191.61. The stock has a 50 day moving average of $173.39 and a two-hundred day moving average of $144.55. The stock has a market cap of $74.09 billion, a P/E ratio of 59.79, a P/E/G ratio of 2.76 and a beta of 1.43.

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

Insider Buying and Selling at Howmet Aerospace

In other news, CEO John C. Plant sold 800,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $156.96, for a total value of $125,568,000.00. Following the sale, the chief executive officer directly owned 236,544 shares in the company, valued at $37,127,946.24. This represents a 77.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $158.53, for a total value of $4,755,900.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 831,250 shares of company stock valued at $130,517,863. Insiders own 1.12% of the company's stock.

Analyst Upgrades and Downgrades

HWM has been the topic of several recent research reports. Susquehanna increased their price objective on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. Northcoast Research upgraded shares of Howmet Aerospace from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Morgan Stanley raised their price target on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Truist Financial upped their price objective 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. Finally, Wells Fargo & Company boosted their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Howmet Aerospace currently has an average rating of "Moderate Buy" and an average price target of $150.44.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.