Handelsbanken Fonder AB Takes Position in Howmet Aerospace Inc. (NYSE:HWM)

Handelsbanken Fonder AB acquired a new position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 23,376 shares of the company's stock, valued at approximately $3,033,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HWM. 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 valued at $279,000 after acquiring an additional 130 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Howmet Aerospace by 10.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,812 shares of the company's stock valued at $1,073,000 after acquiring an additional 963 shares in the last quarter. Avestar Capital LLC purchased a new position in shares of Howmet Aerospace during the 4th quarter valued at $220,000. Asset Management One Co. Ltd. grew its holdings in shares of Howmet Aerospace by 2.4% during the 4th quarter. Asset Management One Co. Ltd. now owns 191,048 shares of the company's stock valued at $21,250,000 after acquiring an additional 4,506 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in shares of Howmet Aerospace by 8.9% during the 4th quarter. Vontobel Holding Ltd. now owns 4,222 shares of the company's stock valued at $462,000 after acquiring an additional 346 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HWM has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Royal Bank Of Canada boosted their price target on shares of Howmet Aerospace from $165.00 to $200.00 and gave the company an "outperform" rating in a report on Monday, June 9th. Morgan Stanley boosted their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. UBS Group upped their price objective on shares of Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Barclays upped their price objective on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $142.13.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM traded up $0.40 during midday trading on Tuesday, hitting $172.00. The company's stock had a trading volume of 1,965,382 shares, compared to its average volume of 2,721,288. The stock has a market capitalization of $69.43 billion, a price-to-earnings ratio of 56.03, a PEG ratio of 2.59 and a beta of 1.44. The stock's 50 day simple moving average is $153.48 and its 200 day simple moving average is $133.69. Howmet Aerospace Inc. has a fifty-two week low of $76.83 and a fifty-two week high of $177.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.07 and a current ratio of 2.30.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued 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 company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $0.53 earnings per share. The firm's revenue was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate 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. Investors of record on Friday, May 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, May 9th. Howmet Aerospace's payout ratio is presently 13.03%.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, VP Barbara Lou Shultz sold 1,250 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $155.17, for a total transaction of $193,962.50. Following the completion of the transaction, the vice president now owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Neil Edward Marchuk sold 30,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the transaction, the executive vice president now owns 131,859 shares of the company's stock, valued at approximately $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 worth $130,517,863. Company insiders own 1.12% of the company's stock.

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.