PNC Financial Services Group Inc. Has $9.34 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• PNC Financial Services Group Inc. has increased its stake in Howmet Aerospace Inc. by 9.8%, now owning nearly 72,000 shares worth approximately $9.34 million.
• Several institutions have also bought shares, with 90.46% of Howmet Aerospace's stock owned by institutional investors.
• The company announced a quarterly dividend increase from $0.10 to $0.12, signaling positive growth, alongside a reported 18.09% net margin in their latest earnings report.

PNC Financial Services Group Inc. boosted its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 9.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,987 shares of the company's stock after buying an additional 6,417 shares during the period. PNC Financial Services Group Inc.'s holdings in Howmet Aerospace were worth $9,339,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HWM. Aster Capital Management DIFC Ltd acquired a new stake in Howmet Aerospace during the fourth quarter valued at approximately $25,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Howmet Aerospace during the 4th quarter valued at $30,000. GPS Wealth Strategies Group LLC boosted its stake in shares of Howmet Aerospace by 114.6% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock worth $34,000 after acquiring an additional 141 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Howmet Aerospace in the 1st quarter worth $37,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in shares of Howmet Aerospace during the fourth quarter worth $39,000. Institutional investors and hedge funds own 90.46% of the company's stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Vertical Research reiterated a "buy" rating on shares of Howmet Aerospace in a research report on Thursday, July 31st. BTIG Research set a $205.00 target price on shares of Howmet Aerospace and gave the stock a "buy" rating in a report on Monday. JPMorgan Chase & Co. boosted their price target on shares of Howmet Aerospace from $150.00 to $190.00 and gave the company an "overweight" rating in a report on Monday. Royal Bank Of Canada reiterated an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Finally, Wall Street Zen raised Howmet Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $172.13.

Howmet Aerospace Stock Down 0.3%

Shares of Howmet Aerospace stock traded down $0.57 during midday trading on Thursday, reaching $181.49. 1,889,869 shares of the company's stock traded hands, compared to its average volume of 2,931,489. Howmet Aerospace Inc. has a 52 week low of $88.52 and a 52 week high of $193.26. The company's 50 day simple moving average is $179.32 and its 200 day simple moving average is $150.71. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.08 and a current ratio of 2.31. The company has a market cap of $73.17 billion, a price-to-earnings ratio of 53.07, a price-to-earnings-growth ratio of 2.32 and a beta of 1.48.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings results 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%. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 earnings per share. Equities analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business 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 $0.12 dividend. This is a boost from Howmet Aerospace's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. Howmet Aerospace's payout ratio is currently 11.70%.

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.