Howmet Aerospace Inc. (NYSE:HWM) Shares Bought by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has increased its holdings in Howmet Aerospace by 21.1%, acquiring 4,252,401 additional shares, bringing its total ownership to 24,450,547 shares worth approximately $3.17 billion.
• Howmet Aerospace is experiencing positive analyst sentiment, with several firms increasing their price targets and giving the stock a strong "buy" rating, resulting in an average price target of $172.13.
• The company recently increased its quarterly dividend from $0.10 to $0.12 per share, reflecting a positive outlook and a current dividend yield of 0.3%.

JPMorgan Chase & Co. grew its position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,450,547 shares of the company's stock after buying an additional 4,252,401 shares during the quarter. JPMorgan Chase & Co. owned 6.06% of Howmet Aerospace worth $3,171,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of HWM. Aster Capital Management DIFC Ltd purchased a new position in Howmet Aerospace in the 4th quarter valued at approximately $25,000. Kapitalo Investimentos Ltda bought a new stake in shares of Howmet Aerospace during the 4th quarter worth $30,000. Pinpoint Asset Management Ltd lifted its stake in Howmet Aerospace by 42.8% in the first quarter. Pinpoint Asset Management Ltd now owns 237 shares of the company's stock worth $31,000 after purchasing an additional 71 shares during the last quarter. Hemington Wealth Management lifted its stake in Howmet Aerospace by 46.6% in the first quarter. Hemington Wealth Management now owns 255 shares of the company's stock worth $33,000 after purchasing an additional 81 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its stake in Howmet Aerospace by 114.6% in the first quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock worth $34,000 after purchasing an additional 141 shares during the last quarter. Institutional investors own 90.46% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on HWM shares. Morgan Stanley upped their price objective on shares of Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Benchmark increased their price target on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Susquehanna lifted their price objective on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their price objective on shares of Howmet Aerospace from $150.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Howmet Aerospace from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $172.13.

Howmet Aerospace Price Performance

Shares of NYSE HWM traded down $0.98 during mid-day trading on Monday, reaching $179.77. The company's stock had a trading volume of 1,448,513 shares, compared to its average volume of 2,876,782. The stock has a 50-day moving average of $179.68 and a two-hundred day moving average of $151.78. The stock has a market capitalization of $72.47 billion, a P/E ratio of 52.56, a P/E/G ratio of 2.31 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. Howmet Aerospace Inc. has a 1-year low of $90.71 and a 1-year high of $193.26.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $1.99 billion. During the same period last year, the business earned $0.67 earnings per share. Howmet Aerospace's revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be issued 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 of this dividend is Friday, August 8th. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. 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.