Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by Covea Finance

Covea Finance reduced its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 13.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,602 shares of the company's stock after selling 44,868 shares during the period. Howmet Aerospace makes up about 1.7% of Covea Finance's holdings, making the stock its 19th largest holding. Covea Finance owned about 0.07% of Howmet Aerospace worth $37,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Advisor Resource Council acquired a new stake in shares of Howmet Aerospace in the first quarter valued at $2,110,000. ORG Partners LLC raised its stake in Howmet Aerospace by 31.5% in the first quarter. ORG Partners LLC now owns 526 shares of the company's stock valued at $69,000 after buying an additional 126 shares in the last quarter. Retirement Systems of Alabama raised its stake in Howmet Aerospace by 16.8% in the first quarter. Retirement Systems of Alabama now owns 430,250 shares of the company's stock valued at $55,816,000 after buying an additional 61,851 shares in the last quarter. Blue Trust Inc. raised its stake in Howmet Aerospace by 45.2% in the first quarter. Blue Trust Inc. now owns 3,692 shares of the company's stock valued at $479,000 after buying an additional 1,149 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Howmet Aerospace by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 47,447 shares of the company's stock valued at $6,155,000 after buying an additional 1,130 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, VP Barbara Lou Shultz sold 1,250 shares of Howmet Aerospace stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total value of $193,962.50. Following the sale, the vice president now owns 23,044 shares of the company's stock, valued at approximately $3,575,737.48. The trade was a 5.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Neil Edward Marchuk sold 30,000 shares of Howmet Aerospace stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 131,859 shares in the company, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 831,250 shares of company stock valued at $130,517,863. 1.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HWM has been the topic of a number of analyst reports. UBS Group raised their price target on Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. BTIG Research restated a "buy" rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Northcoast Research upgraded Howmet Aerospace from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Wells Fargo & Company raised their price target on Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Truist Financial raised their price target on Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $142.13.

Howmet Aerospace Stock Performance

NYSE HWM opened at $173.06 on Friday. 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 Inc. has a 52-week low of $76.83 and a 52-week high of $177.25. The business's 50-day moving average price is $156.18 and its 200 day moving average price is $134.68. The firm has a market cap of $69.86 billion, a P/E ratio of 56.37, a P/E/G ratio of 2.57 and a beta of 1.44.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the company posted $0.53 earnings per share. The business's revenue was up 5.5% on a year-over-year basis. On average, equities research analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, May 9th. Howmet Aerospace's dividend 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.

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