Park Avenue Securities LLC Acquires 13,500 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Park Avenue Securities LLC raised its position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 126.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,207 shares of the company's stock after acquiring an additional 13,500 shares during the quarter. Park Avenue Securities LLC's holdings in Howmet Aerospace were worth $3,140,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of HWM. Vanguard Group Inc. boosted its position in shares of Howmet Aerospace by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company's stock worth $5,153,220,000 after purchasing an additional 352,256 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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. Price T Rowe Associates Inc. MD boosted its position in shares of Howmet Aerospace by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company's stock worth $1,445,210,000 after purchasing an additional 80,972 shares in the last quarter. Janus Henderson Group PLC boosted its position 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. Finally, Geode Capital Management LLC boosted its position in shares of Howmet Aerospace by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company's stock worth $1,070,267,000 after purchasing an additional 308,574 shares in the last quarter. Institutional investors own 90.46% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HWM. The Goldman Sachs Group increased their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Wells Fargo & Company increased their price objective on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Truist Financial increased their price objective on shares of Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, UBS Group upped their target price 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. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $137.88.

Insider Transactions at Howmet Aerospace

In other news, CEO John C. Plant sold 800,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the completion of the sale, the chief executive officer now owns 236,544 shares in the company, valued at $37,127,946.24. This trade represents a 77.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Barbara Lou Shultz sold 1,250 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was 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 directly 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. Insiders sold a total of 831,250 shares of company stock worth $130,517,863 in the last quarter. Insiders own 1.04% of the company's stock.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock traded down $0.61 during mid-day trading on Friday, hitting $170.91. 2,418,162 shares of the stock were exchanged, compared to its average volume of 2,735,344. Howmet Aerospace Inc. has a 12 month low of $76.83 and a 12 month high of $177.25. The company has a 50-day simple moving average of $150.34 and a 200 day simple moving average of $132.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. The company has a market capitalization of $68.99 billion, a P/E ratio of 60.61, a P/E/G ratio of 1.92 and a beta of 1.44.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter last year, the firm earned $0.53 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.23%. Howmet Aerospace's payout ratio is currently 13.03%.

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.