Forum Financial Management LP reduced its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 22.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,789 shares of the company's stock after selling 1,638 shares during the period. Forum Financial Management LP's holdings in Howmet Aerospace were worth $751,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Howmet Aerospace by 5.4% during the 4th quarter. Brighton Jones LLC now owns 2,548 shares of the company's stock worth $279,000 after purchasing an additional 130 shares during the period. Proficio Capital Partners LLC acquired a new position in Howmet Aerospace during the fourth quarter worth about $223,000. Avantax Advisory Services Inc. boosted its position in shares of Howmet Aerospace by 24.8% in the 4th quarter. Avantax Advisory Services Inc. now owns 8,820 shares of the company's stock valued at $965,000 after purchasing an additional 1,753 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in Howmet Aerospace by 15.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 25,822 shares of the company's stock worth $2,824,000 after acquiring an additional 3,444 shares during the period. Finally, Corient Private Wealth LLC raised its stake in shares of Howmet Aerospace by 34.5% in the 4th quarter. Corient Private Wealth LLC now owns 57,386 shares of the company's stock valued at $6,276,000 after acquiring an additional 14,730 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.
Analyst Upgrades and Downgrades
HWM has been the topic of a number of recent analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Howmet Aerospace in a research note on Monday, June 30th. BTIG Research reiterated a "buy" rating on shares of Howmet Aerospace in a research note on Monday, May 5th. 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. Benchmark boosted their price objective on Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Finally, Morgan Stanley increased their target price on Howmet Aerospace from $170.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $150.44.
View Our Latest Analysis on Howmet Aerospace
Howmet Aerospace Stock Up 2.5%
Shares of Howmet Aerospace stock opened at $188.98 on Friday. Howmet Aerospace Inc. has a 12-month low of $77.22 and a 12-month high of $192.00. The stock has a 50 day moving average price of $172.73 and a two-hundred day moving average price of $143.51. The stock has a market capitalization of $76.29 billion, a P/E ratio of 61.56, a PEG ratio of 2.71 and a beta of 1.43. The company has a quick ratio of 1.07, a current ratio of 2.30 and a debt-to-equity ratio of 0.70.
Howmet Aerospace (NYSE:HWM - Get Free Report) last posted 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. 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 analysts' expectations of $1.94 billion. During the same quarter last year, the business earned $0.53 earnings per share. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.
Insider Activity
In other news, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 236,544 shares of the company's stock, valued at approximately $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 is accessible through this link. Also, VP Barbara Lou Shultz sold 1,250 shares of the company's stock in a transaction that occurred 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 directly owned 23,044 shares in the company, valued at $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 sold 831,250 shares of company stock worth $130,517,863. 1.04% of the stock is currently owned by company insiders.
Howmet Aerospace Company Profile
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Free Report)
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.
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