iA Global Asset Management Inc. Sells 1,420 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• iA Global Asset Management Inc. reduced its stake in Howmet Aerospace by 6.5%, selling 1,420 shares and now holds 20,383 shares valued at approximately $2.64 million.
• Insider transactions included CEO John C. Plant selling 800,000 shares for over $125 million, resulting in a 77.18% decrease in his ownership.
• Analysts have raised their price targets on Howmet Aerospace, with Morgan Stanley increasing its target from $170 to $210, reflecting growing confidence in the company's prospects.

iA Global Asset Management Inc. lowered its holdings in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,383 shares of the company's stock after selling 1,420 shares during the period. iA Global Asset Management Inc.'s holdings in Howmet Aerospace were worth $2,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. increased its holdings in shares of Howmet Aerospace by 10.1% during the 1st quarter. Harbour Investments Inc. now owns 1,114 shares of the company's stock worth $145,000 after acquiring an additional 102 shares during the last quarter. PFG Advisors increased its holdings in shares of Howmet Aerospace by 37.9% in the first quarter. PFG Advisors now owns 9,593 shares of the company's stock valued at $1,245,000 after purchasing an additional 2,635 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Howmet Aerospace by 233.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 140,883 shares of the company's stock valued at $18,277,000 after purchasing an additional 98,642 shares during the period. Park Avenue Securities LLC raised its position in shares of Howmet Aerospace by 126.1% in the first quarter. Park Avenue Securities LLC now owns 24,207 shares of the company's stock valued at $3,140,000 after purchasing an additional 13,500 shares during the period. Finally, Private Trust Co. NA lifted its stake in shares of Howmet Aerospace by 65.4% during the 1st quarter. Private Trust Co. NA now owns 673 shares of the company's stock worth $87,000 after buying an additional 266 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Price Performance

HWM traded down $0.91 during trading on Friday, hitting $180.67. 1,588,243 shares of the stock traded hands, compared to its average volume of 2,884,757. The business has a 50 day moving average price of $179.54 and a 200 day moving average price of $151.08. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.08. Howmet Aerospace Inc. has a twelve month low of $90.71 and a twelve month high of $193.26. The company has a market cap of $72.83 billion, a price-to-earnings ratio of 52.83, a PEG ratio of 2.32 and a beta of 1.48.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the company posted $0.67 EPS. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. Equities research analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, August 8th. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's dividend payout ratio is 11.70%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank Of Canada reissued an "outperform" rating on shares of Howmet Aerospace in a report on Monday, June 30th. Barclays reiterated an "overweight" rating and set a $190.00 target price (up previously from $140.00) on shares of Howmet Aerospace in a research note on Monday. Bank of America boosted their price target on Howmet Aerospace from $185.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday. Morgan Stanley upped their price objective on Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Wall Street Zen raised Howmet Aerospace from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Howmet Aerospace currently has an average rating of "Moderate Buy" and an average target price of $172.13.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 30,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the completion of the transaction, the executive vice president directly owned 131,859 shares in the company, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 owned 236,544 shares in the company, valued at $37,127,946.24. This represents a 77.18% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

Howmet Aerospace Company 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.