Fifth Third Bancorp Raises Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Fifth Third Bancorp raised its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 15.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,777 shares of the company's stock after purchasing an additional 1,716 shares during the quarter. Fifth Third Bancorp's holdings in Howmet Aerospace were worth $1,658,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HWM. Norges Bank bought a new stake in shares of Howmet Aerospace during the fourth quarter worth about $1,001,558,000. JPMorgan Chase & Co. boosted its stake in Howmet Aerospace by 14.0% during the 4th 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 during the last quarter. Winslow Capital Management LLC bought a new stake in Howmet Aerospace during the 4th quarter worth approximately $265,844,000. GAMMA Investing LLC increased its holdings in 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 raised its stake in shares of Howmet Aerospace by 10.3% in the fourth 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 during the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Insider Activity at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 30,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 131,859 shares of the company's stock, valued at $20,903,607.27. This trade represents a 18.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of Howmet Aerospace stock in a transaction on Monday, May 5th. The shares were sold at an average price of $155.17, for a total value of $193,962.50. Following the completion of the transaction, the vice president now owns 23,044 shares of the company's stock, valued at approximately $3,575,737.48. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 831,250 shares of company stock worth $130,517,863. Company insiders own 1.12% of the company's stock.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock traded up $0.40 on Tuesday, reaching $172.00. 1,965,382 shares of the company traded hands, compared to its average volume of 2,721,852. The company has a 50 day moving average of $152.61 and a 200 day moving average of $133.43. 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 $76.83 and a 52 week high of $177.25. The firm has a market capitalization of $69.43 billion, a PE ratio of 57.58, a PEG ratio of 2.59 and a beta of 1.44.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted 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. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. Howmet Aerospace's revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.23%. The ex-dividend date was Friday, May 9th. Howmet Aerospace's dividend payout ratio (DPR) is currently 13.03%.

Analysts Set New Price Targets

Several brokerages recently issued reports on HWM. BTIG Research reaffirmed a "buy" rating on shares of Howmet Aerospace in a research report on Monday, May 5th. Royal Bank Of Canada lifted their price objective on shares of Howmet Aerospace from $165.00 to $200.00 and gave the stock an "outperform" rating in a report on Monday, June 9th. Wells Fargo & Company upped their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. The Goldman Sachs Group raised their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Finally, Truist Financial boosted their price target on shares of Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $142.13.

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.