Invesco Ltd. Acquires 563,109 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Invesco Ltd. has increased its holdings in Howmet Aerospace Inc. by 8.3%, acquiring 563,109 shares during the first quarter, bringing its total ownership to approximately 1.81%, valued at $949 million.
• Several hedge funds, including JPMorgan Chase & Co. and GAMMA Investing LLC, have significantly raised their positions in Howmet Aerospace, reflecting strong institutional interest in the company.
• Analysts are optimistic about Howmet Aerospace's stock, with 15 buy ratings and a consensus rating of "Moderate Buy", as well as increased price targets from major financial institutions.

Invesco Ltd. grew its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,315,238 shares of the company's stock after buying an additional 563,109 shares during the period. Invesco Ltd. owned 1.81% of Howmet Aerospace worth $949,006,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HWM. JPMorgan Chase & Co. boosted its stake in Howmet Aerospace by 21.1% in the 1st quarter. JPMorgan Chase & Co. now owns 24,450,547 shares of the company's stock worth $3,171,970,000 after purchasing an additional 4,252,401 shares in the last quarter. GAMMA Investing LLC boosted its stake in Howmet Aerospace by 15,741.8% in the 1st quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company's stock worth $1,723,040,000 after purchasing an additional 1,319,792 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in Howmet Aerospace in the 1st quarter worth about $147,251,000. Janus Henderson Group PLC boosted its stake in Howmet Aerospace by 10.3% in 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, Zurich Insurance Group Ltd FI bought a new position in Howmet Aerospace in the 4th quarter worth about $102,996,000. Institutional investors own 90.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Bank of America upped their price target on shares of Howmet Aerospace from $185.00 to $215.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. upped their price target on shares of Howmet Aerospace from $150.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Truist Financial upped their price target on shares of Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Finally, Barclays reissued an "overweight" rating and issued a $190.00 target price (up previously from $140.00) on shares of Howmet Aerospace in a research report on Monday, August 4th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $172.13.

Howmet Aerospace Stock Performance

Shares of NYSE HWM traded down $0.63 during midday trading on Thursday, hitting $176.17. 2,004,037 shares of the company's stock traded hands, compared to its average volume of 2,878,409. Howmet Aerospace Inc. has a 1 year low of $90.71 and a 1 year high of $193.26. The stock has a market capitalization of $71.02 billion, a price-to-earnings ratio of 51.51, a price-to-earnings-growth ratio of 2.29 and a beta of 1.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.08 and a current ratio of 2.31. The firm has a fifty day moving average of $179.92 and a 200 day moving average of $152.53.

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

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be paid a dividend of $0.12 per share. This is a boost from Howmet Aerospace's previous quarterly dividend of $0.10. The ex-dividend date is Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. Howmet Aerospace's dividend payout ratio is presently 14.04%.

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.