Jupiter Asset Management Ltd. Sells 106,860 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Howmet Aerospace by 14.5%, selling 106,860 shares, which now represents approximately 0.8% of their investment portfolio.
• Howmet Aerospace has received multiple upgrades, with UBS raising its price target from $120.00 to $155.00 and Morgan Stanley increasing theirs from $170.00 to $210.00, reflecting a consensus rating of “Moderate Buy”.
• Insider selling has occurred significantly, with CEO John C. Plant and EVP Neil Edward Marchuk selling 800,000 and 30,000 shares, respectively, representing large decreases in their holdings.

Jupiter Asset Management Ltd. reduced its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 628,229 shares of the company's stock after selling 106,860 shares during the period. Howmet Aerospace makes up approximately 0.8% of Jupiter Asset Management Ltd.'s investment portfolio, making the stock its 20th biggest position. Jupiter Asset Management Ltd. owned about 0.16% of Howmet Aerospace worth $81,500,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in Howmet Aerospace in the fourth quarter valued at approximately $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Howmet Aerospace in the fourth quarter worth about $30,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of 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 acquiring an additional 141 shares during the last quarter. Wayfinding Financial LLC bought a new position in shares of Howmet Aerospace in the first quarter worth about $37,000. Finally, Wood Tarver Financial Group LLC bought a new position in Howmet Aerospace in the 4th quarter valued at approximately $39,000. 90.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HWM has been the subject of several research reports. UBS Group increased their price objective on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Benchmark increased their price objective on shares of Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Royal Bank Of Canada reissued an "outperform" rating on shares of Howmet Aerospace in a research note on Monday, June 30th. Morgan Stanley increased 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. Finally, Northcoast Research raised shares of Howmet Aerospace from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $153.47.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the completion of the transaction, the executive vice president owned 131,859 shares in the company, valued at approximately $20,903,607.27. This trade represents a 18.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. Plant sold 800,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the transaction, the chief executive officer owned 236,544 shares of the company's stock, valued at approximately $37,127,946.24. The trade was a 77.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 831,250 shares of company stock worth $130,517,863. 1.04% of the stock is currently owned by insiders.

Howmet Aerospace Trading Up 2.6%

HWM opened at $184.40 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.07. Howmet Aerospace Inc. has a fifty-two week low of $85.39 and a fifty-two week high of $193.26. The company's 50 day moving average price is $178.35 and its two-hundred day moving average price is $149.14. The firm has a market capitalization of $74.44 billion, a price-to-earnings ratio of 53.92, a PEG ratio of 2.64 and a beta of 1.48.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings results 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 analyst estimates of $1.99 billion. During the same quarter last year, the business earned $0.67 EPS. The company's revenue was up 9.2% compared to the same quarter last year. As a group, research analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.3%. The ex-dividend date 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 (DPR) is 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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