Convergence Investment Partners LLC Takes $943,000 Position in Howmet Aerospace Inc. (NYSE:HWM)

Convergence Investment Partners LLC purchased a new stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,270 shares of the company's stock, valued at approximately $943,000.

Several other large investors have also recently added to or reduced their stakes in HWM. Norges Bank bought a new position in Howmet Aerospace during the 4th quarter worth $1,001,558,000. JPMorgan Chase & Co. grew its holdings in shares of Howmet Aerospace by 14.0% during the 4th 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 in the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Howmet Aerospace during the 4th quarter worth $265,844,000. GAMMA Investing LLC grew its holdings in shares of Howmet Aerospace by 15,741.8% during 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 grew its holdings 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 worth $1,197,315,000 after purchasing an additional 1,026,130 shares in the last quarter. Institutional investors own 90.46% of the company's stock.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 30,000 shares of the 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 completion of the sale, the executive vice president owned 131,859 shares in the company, valued at approximately $20,903,607.27. This trade represents a 18.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total value of $193,962.50. Following the completion of the sale, the vice president 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 831,250 shares of company stock worth $130,517,863 in the last ninety days. 1.04% of the stock is owned by insiders.

Howmet Aerospace Stock Performance

Shares of NYSE HWM traded up $2.67 during trading on Friday, reaching $189.47. 1,915,589 shares of the stock traded hands, compared to its average volume of 3,735,684. The company has a 50-day moving average of $176.10 and a 200-day moving average of $146.67. The stock has a market capitalization of $76.48 billion, a P/E ratio of 61.72, a price-to-earnings-growth ratio of 2.74 and a beta of 1.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.30 and a quick ratio of 1.07. 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 data on Thursday, May 1st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm 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 was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. Analysts forecast that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on HWM shares. Wall Street Zen lowered Howmet Aerospace from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. UBS Group raised their price objective on Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Wells Fargo & Company lifted their target price on Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Susquehanna lifted their target price on Howmet Aerospace from $170.00 to $210.00 and gave the company a "positive" rating in a research report on Monday, July 14th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.