Freemont Management S.A. Acquires Shares of 27,400 Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Freemont Management S.A. has acquired a new position in Howmet Aerospace Inc., purchasing 27,400 shares valued at approximately $3.56 million.
• Insider selling activity includes CEO John C. Plant selling 800,000 shares for about $125.57 million, which significantly decreased his ownership in the company.
• Howmet Aerospace reported $0.86 earnings per share (EPS) for the most recent quarter, exceeding analysts' estimates, with revenue increasing by 5.5% year-over-year.

Freemont Management S.A. purchased a new position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 27,400 shares of the company's stock, valued at approximately $3,555,000.

A number of other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in shares of Howmet Aerospace by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company's stock worth $2,209,071,000 after acquiring an additional 2,486,649 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Howmet Aerospace by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company's stock valued at $1,445,210,000 after purchasing an additional 80,972 shares during the last quarter. Janus Henderson Group PLC increased its stake in Howmet Aerospace by 10.3% in the fourth quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock valued at $1,197,315,000 after purchasing an additional 1,026,130 shares during the last quarter. Geode Capital Management LLC increased its stake in Howmet Aerospace by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company's stock valued at $1,070,267,000 after purchasing an additional 308,574 shares during the last quarter. Finally, Norges Bank acquired a new position in Howmet Aerospace in the fourth quarter valued at $1,001,558,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Howmet Aerospace

In related news, CEO John C. Plant sold 800,000 shares of the 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 transaction, the chief executive officer owned 236,544 shares of the company's stock, valued at approximately $37,127,946.24. This represents a 77.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction dated Monday, May 12th. The shares were 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 directly owned 131,859 shares of the company's stock, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 831,250 shares of company stock valued at $130,517,863. Insiders own 1.04% of the company's stock.

Wall Street Analysts Forecast Growth

HWM has been the subject of several analyst reports. Susquehanna upped their target price on Howmet Aerospace from $170.00 to $210.00 and gave the company a "positive" rating in a research note on Monday, July 14th. UBS Group upped their target price on Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Royal Bank Of Canada reiterated 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. Finally, Benchmark boosted their price target on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.44.

Howmet Aerospace Stock Up 1.4%

NYSE HWM traded up $2.67 on Friday, reaching $189.47. The company had a trading volume of 1,915,589 shares, compared to its average volume of 3,735,684. The firm has a market capitalization of $76.48 billion, a PE ratio of 61.72, a P/E/G ratio of 2.78 and a beta of 1.43. Howmet Aerospace Inc. has a 1 year low of $81.41 and a 1 year high of $191.60. The firm has a 50-day moving average of $176.10 and a 200-day moving average of $146.89. 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 (NYSE:HWM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. Howmet Aerospace's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. On average, equities research analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

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.