Contravisory Investment Management Inc. Sells 1,494 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Contravisory Investment Management Inc. decreased its position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 12.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,702 shares of the company's stock after selling 1,494 shares during the quarter. Contravisory Investment Management Inc.'s holdings in Howmet Aerospace were worth $1,388,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of HWM. Hennion & Walsh Asset Management Inc. lifted its holdings in Howmet Aerospace by 10.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 14,201 shares of the company's stock worth $1,842,000 after purchasing an additional 1,376 shares during the period. Sentry Investment Management LLC acquired a new stake in Howmet Aerospace in the first quarter worth about $181,000. Fulton Bank N.A. acquired a new stake in Howmet Aerospace in the first quarter worth about $389,000. Merit Financial Group LLC lifted its holdings in Howmet Aerospace by 66.3% in the first quarter. Merit Financial Group LLC now owns 13,149 shares of the company's stock worth $1,706,000 after purchasing an additional 5,241 shares during the period. Finally, NBC Securities Inc. lifted its holdings in Howmet Aerospace by 136,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,368 shares of the company's stock valued at $177,000 after acquiring an additional 1,367 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Insiders Place Their Bets

In other Howmet Aerospace news, VP Barbara Lou Shultz sold 1,250 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total transaction of $193,962.50. Following the completion of the sale, the vice president now owns 23,044 shares of the company's stock, valued at $3,575,737.48. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 30,000 shares of the company'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 value of $4,755,900.00. Following the sale, the executive vice president now directly owns 131,859 shares of the company's stock, valued at $20,903,607.27. The trade was a 18.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 831,250 shares of company stock valued at $130,517,863 over the last 90 days. 1.04% of the stock is currently owned by company insiders.

Howmet Aerospace Stock Up 0.2%

NYSE:HWM traded up $0.36 during mid-day trading on Friday, reaching $175.37. The stock had a trading volume of 1,637,772 shares, compared to its average volume of 2,717,523. The business's 50 day moving average is $146.40 and its 200 day moving average is $130.98. Howmet Aerospace Inc. has a fifty-two week low of $76.83 and a fifty-two week high of $177.25. The stock has a market cap of $70.79 billion, a P/E ratio of 62.19, a PEG ratio of 1.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The company's revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, sell-side analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 9th were given a dividend of $0.10 per share. The ex-dividend date was Friday, May 9th. This represents a $0.40 dividend on an annualized basis and a yield of 0.23%. Howmet Aerospace's payout ratio is currently 13.03%.

Analysts Set New Price Targets

A number of brokerages have weighed in on HWM. Benchmark upped their price target on shares of Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a report on Monday, April 21st. Wells Fargo & Company boosted their price objective on Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. BTIG Research restated a "buy" rating on shares of Howmet Aerospace in a report on Monday, May 5th. JPMorgan Chase & Co. boosted their price objective on Howmet Aerospace from $125.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group boosted their price objective on Howmet Aerospace from $124.00 to $139.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $132.53.

Howmet Aerospace Company 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.