LGT Group Foundation Sells 11,298 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• LGT Group Foundation has reduced its stake in Howmet Aerospace Inc. by 35.9% in the first quarter, selling 11,298 shares, leaving it with 20,148 shares valued at approximately $2.6 million.
• Several major investors, including Vanguard Group Inc. and JPMorgan Chase & Co., have increased their positions in Howmet Aerospace, indicating strong institutional interest as 90.46% of the stock is owned by institutional investors.
• Howmet Aerospace recently increased its quarterly dividend from $0.10 to $0.12, with a current dividend yield of 0.3%, and is projected to achieve an EPS of 3.27 for the current fiscal year.

LGT Group Foundation reduced its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,148 shares of the company's stock after selling 11,298 shares during the period. LGT Group Foundation's holdings in Howmet Aerospace were worth $2,614,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Howmet Aerospace by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 47,813,262 shares of the company's stock worth $6,202,814,000 after purchasing an additional 695,953 shares during the last quarter. JPMorgan Chase & Co. raised its position in Howmet Aerospace by 21.1% during 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 during the last quarter. Price T Rowe Associates Inc. MD raised its position in Howmet Aerospace by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company's stock worth $1,445,210,000 after purchasing an additional 80,972 shares during the last quarter. Janus Henderson Group PLC raised its position 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 purchasing an additional 1,026,130 shares during the last quarter. Finally, Invesco Ltd. raised its position in Howmet Aerospace by 8.3% during the 1st quarter. Invesco Ltd. now owns 7,315,238 shares of the company's stock worth $949,006,000 after purchasing an additional 563,109 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HWM has been the subject of several analyst reports. Truist Financial raised 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. Bank of America upped their price target on shares of Howmet Aerospace from $185.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Susquehanna upped their price target on shares of Howmet Aerospace from $170.00 to $210.00 and gave the company a "positive" rating in a research report on Monday, July 14th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Finally, Vertical Research reaffirmed a "buy" rating on shares of Howmet Aerospace in a research report on Thursday, July 31st. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $172.13.

Howmet Aerospace Trading Up 0.5%

HWM opened at $180.85 on Wednesday. Howmet Aerospace Inc. has a 1-year low of $90.71 and a 1-year high of $193.26. The company has a current ratio of 2.31, a quick ratio of 1.08 and a debt-to-equity ratio of 0.65. The company has a market cap of $72.91 billion, a P/E ratio of 52.88, a price-to-earnings-growth ratio of 2.30 and a beta of 1.48. The company has a fifty day moving average price of $179.84 and a two-hundred day moving average price of $151.99.

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 for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the firm earned $0.67 earnings per share. The business's quarterly revenue was up 9.2% compared to the same quarter last year. Analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders 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%. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, August 8th. Howmet Aerospace's payout ratio is 14.04%.

About Howmet Aerospace

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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