Principal Financial Group Inc. Sells 4,376 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Principal Financial Group Inc. reduced its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 472,217 shares of the company's stock after selling 4,376 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Howmet Aerospace worth $61,261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in HWM. Brighton Jones LLC boosted its stake in shares of Howmet Aerospace by 5.4% in the fourth quarter. Brighton Jones LLC now owns 2,548 shares of the company's stock valued at $279,000 after buying an additional 130 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $223,000. Fisher Asset Management LLC bought a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $243,000. Jones Financial Companies Lllp raised its position in Howmet Aerospace by 235.9% during the fourth quarter. Jones Financial Companies Lllp now owns 13,367 shares of the company's stock valued at $1,462,000 after purchasing an additional 9,388 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Howmet Aerospace during the fourth quarter valued at approximately $131,000. 90.46% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO John C. Plant sold 800,000 shares of the firm's stock in a transaction dated 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 directly owned 236,544 shares in the company, valued at $37,127,946.24. This trade represents a 77.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Barbara Lou Shultz sold 1,250 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $155.17, for a total value of $193,962.50. Following the completion of the sale, the vice president owned 23,044 shares of the company's stock, 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. Insiders sold a total of 831,250 shares of company stock worth $130,517,863 in the last three months. Company insiders own 1.12% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. BTIG Research restated a "buy" rating on shares of Howmet Aerospace in a research report on Monday, May 5th. Royal Bank Of Canada restated an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Benchmark boosted their price objective on shares of Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, April 21st. UBS Group boosted their price objective on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Northcoast Research upgraded shares of Howmet Aerospace from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $142.13.

Howmet Aerospace Trading Down 0.5%

Howmet Aerospace stock traded down $0.92 during trading hours on Tuesday, reaching $179.33. 1,461,665 shares of the company's stock were exchanged, compared to its average volume of 2,800,908. The company has a quick ratio of 1.07, a current ratio of 2.30 and a debt-to-equity ratio of 0.70. The firm's 50 day simple moving average is $167.56 and its 200 day simple moving average is $139.97. Howmet Aerospace Inc. has a twelve month low of $77.22 and a twelve month high of $187.51. The firm has a market capitalization of $72.39 billion, a PE ratio of 58.41, a PEG ratio of 2.73 and a beta of 1.43.

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

Howmet Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were paid a $0.10 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.22%. Howmet Aerospace's dividend payout ratio is presently 13.03%.

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.