Kentucky Retirement Systems Insurance Trust Fund Makes New $1.53 Million Investment in Howmet Aerospace Inc. (NYSE:HWM)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,783 shares of the company's stock, valued at approximately $1,529,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Howmet Aerospace in the 4th quarter worth $1,001,558,000. JPMorgan Chase & Co. raised its stake in shares of Howmet Aerospace by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company's stock worth $2,209,071,000 after buying an additional 2,486,649 shares during the period. Winslow Capital Management LLC purchased a new position in shares of Howmet Aerospace during the 4th quarter valued at about $265,844,000. GAMMA Investing LLC grew its stake in shares of Howmet Aerospace by 15,741.8% during the 1st quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company's stock valued at $1,723,040,000 after acquiring an additional 1,319,792 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Howmet Aerospace by 10.3% during the 4th quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock worth $1,197,315,000 after acquiring an additional 1,026,130 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Trading Up 0.6%

NYSE HWM traded up $1.08 on Tuesday, hitting $176.71. 2,490,307 shares of the stock were exchanged, compared to its average volume of 2,711,135. The stock has a fifty day moving average price of $158.20 and a two-hundred day moving average price of $135.57. The firm has a market capitalization of $71.33 billion, a P/E ratio of 57.56, a P/E/G ratio of 2.65 and a beta of 1.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.07 and a current ratio of 2.30. Howmet Aerospace Inc. has a 52-week low of $76.83 and a 52-week high of $177.75.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts forecast that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were given a dividend of $0.10 per share. The ex-dividend date was Friday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.23%. Howmet Aerospace's dividend payout ratio (DPR) is 13.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Northcoast Research raised Howmet Aerospace from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Truist Financial increased their target price on Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Benchmark boosted their price target on Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Howmet Aerospace from $165.00 to $200.00 and gave the company an "outperform" rating in a research report on Monday, June 9th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, Howmet Aerospace currently has a consensus rating of "Moderate Buy" and an average target price of $142.13.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 30,000 shares of the business's stock in a transaction dated 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 owns 131,859 shares in the company, valued at approximately $20,903,607.27. The trade was a 18.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Barbara Lou Shultz sold 1,250 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $155.17, for a total transaction of $193,962.50. Following the transaction, the vice president now owns 23,044 shares in the company, valued at approximately $3,575,737.48. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 831,250 shares of company stock valued at $130,517,863. 1.12% of the stock is currently owned by company insiders.

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.