Longbow Finance SA Takes $6.90 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Longbow Finance SA has acquired a new stake in Howmet Aerospace Inc. by purchasing 53,210 shares worth approximately $6.9 million in the first quarter.
• Insider selling is notable, with executive Neil Edward Marchuk selling 30,000 shares, representing an 18.53% decrease in his ownership, while a total of 831,250 shares were sold by insiders over the last 90 days.
• Equities analysts are optimistic, with a consensus rating of "Moderate Buy" and a price target increase from various analysts, indicating strong potential for Howmet Aerospace stock.

Longbow Finance SA bought a new stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 53,210 shares of the company's stock, valued at approximately $6,903,000.

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

Howmet Aerospace Trading Up 1.4%

HWM traded up $2.67 during trading on Friday, reaching $189.47. The company had a trading volume of 1,915,589 shares, compared to its average volume of 3,735,684. The firm's 50-day simple moving average is $176.10 and its 200 day simple moving average is $146.89. The company has a market cap of $76.48 billion, a price-to-earnings ratio of 61.72, a PEG ratio of 2.78 and a beta of 1.43. Howmet Aerospace Inc. has a 12-month low of $81.41 and a 12-month high of $191.60. 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 (NYSE:HWM - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.86 earnings per share 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 company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the previous year, the business posted $0.53 EPS. The business's revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, CEO John C. Plant sold 800,000 shares of Howmet Aerospace stock in a transaction dated 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 $37,127,946.24. The trade was a 77.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Neil Edward Marchuk sold 30,000 shares of Howmet Aerospace 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 transaction, the executive vice president directly 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 disclosure for this sale can be found here. Insiders have sold a total of 831,250 shares of company stock valued at $130,517,863 in the last 90 days. 1.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HWM has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated an "outperform" rating on shares of Howmet Aerospace in a research note on Monday, June 30th. Benchmark lifted 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. Morgan Stanley lifted 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. Wall Street Zen cut shares of Howmet Aerospace from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $150.44.

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.