LPL Financial LLC Raises Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• LPL Financial LLC has significantly increased its stake in Howmet Aerospace by acquiring 112,340 shares, raising its ownership to 291,673 shares, valued at approximately $37.84 million.
• Howmet Aerospace announced a quarterly dividend increase to $0.12 per share, up from $0.10, signifying a continued commitment to returning value to shareholders.
• Analysts have a consensus rating of "Moderate Buy" for Howmet Aerospace, with price targets ranging from $145.00 to $192.00, indicating growth expectations for the company.

LPL Financial LLC raised its position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 62.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 291,673 shares of the company's stock after purchasing an additional 112,340 shares during the quarter. LPL Financial LLC owned 0.07% of Howmet Aerospace worth $37,839,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd purchased a new position in Howmet Aerospace in the 4th quarter worth approximately $25,000. GPS Wealth Strategies Group LLC lifted its holdings in Howmet Aerospace by 114.6% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock worth $34,000 after purchasing an additional 141 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Howmet Aerospace in the 4th quarter worth approximately $30,000. Wayfinding Financial LLC purchased a new position in Howmet Aerospace in the 1st quarter worth approximately $37,000. Finally, Wood Tarver Financial Group LLC purchased a new position in Howmet Aerospace in the 4th quarter worth approximately $39,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 30,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was 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 directly owned 131,859 shares in the company, valued at approximately $20,903,607.27. This represents a 18.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John C. Plant sold 800,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $156.96, for a total value of $125,568,000.00. Following the completion of the sale, the chief executive officer owned 236,544 shares of the company's stock, valued at $37,127,946.24. This represents a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HWM has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Howmet Aerospace in a report on Monday, June 30th. Barclays reaffirmed an "overweight" rating and set a $190.00 price objective (up from $140.00) on shares of Howmet Aerospace in a report on Monday. Benchmark upped their price objective on Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Susquehanna upped their price objective on Howmet Aerospace from $170.00 to $210.00 and gave the stock a "positive" rating in a report on Monday, July 14th. Finally, Wall Street Zen raised Howmet Aerospace from a "hold" rating to a "buy" rating in a report on Saturday. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Howmet Aerospace has an average rating of "Moderate Buy" and a consensus price target of $172.13.

Howmet Aerospace Trading Up 1.5%

Howmet Aerospace stock traded up $2.77 during mid-day trading on Wednesday, hitting $182.09. The company's stock had a trading volume of 1,252,862 shares, compared to its average volume of 3,088,486. The company has a 50 day moving average of $178.86 and a 200-day moving average of $150.10. The stock has a market cap of $73.41 billion, a PE ratio of 53.24, a P/E/G ratio of 2.56 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 one year low of $87.64 and a one year high of $193.26.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.99 billion. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. Howmet Aerospace's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 EPS. On average, research analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's dividend payout ratio (DPR) is currently 11.70%.

Howmet Aerospace Company 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.