Howmet Aerospace Inc. (NYSE:HWM) Shares Bought by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Howmet Aerospace Inc. by 6.7%, acquiring an additional 7,478 shares, bringing their total to 119,829 shares valued at approximately $15.5 million.
• Several institutional investors, including Vanguard and JPMorgan Chase, have significantly increased their stakes in Howmet Aerospace, reflecting strong institutional interest in the company.
• Howmet Aerospace recently reported earnings that exceeded analyst expectations, with a revenue increase of 9.2% year-over-year, and announced a quarterly dividend increase from $0.10 to $0.12.

Resona Asset Management Co. Ltd. boosted its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,829 shares of the company's stock after acquiring an additional 7,478 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Howmet Aerospace were worth $15,545,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HWM. Kapitalo Investimentos Ltda purchased a new stake in Howmet Aerospace in the 4th quarter worth about $30,000. Pinpoint Asset Management Ltd raised its position in Howmet Aerospace by 42.8% in the 1st quarter. Pinpoint Asset Management Ltd now owns 237 shares of the company's stock valued at $31,000 after purchasing an additional 71 shares during the last quarter. Hemington Wealth Management grew its stake in shares of Howmet Aerospace by 46.6% during the first quarter. Hemington Wealth Management now owns 255 shares of the company's stock worth $33,000 after purchasing an additional 81 shares during the period. GPS Wealth Strategies Group LLC grew its stake in Howmet Aerospace by 114.6% in the first quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock valued at $34,000 after acquiring an additional 141 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Howmet Aerospace by 100.7% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 279 shares of the company's stock worth $36,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 90.46% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on HWM shares. Wells Fargo & Company upped their price objective on Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Susquehanna upped their price objective on Howmet Aerospace from $170.00 to $210.00 and gave the company a "positive" rating in a research note on Monday, July 14th. Morgan Stanley upped their price objective on Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Barclays reaffirmed an "overweight" rating and issued a $190.00 target price (up previously from $140.00) on shares of Howmet Aerospace in a research report on Monday, August 4th. Finally, Vertical Research reaffirmed a "buy" rating on shares of Howmet Aerospace in a research report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $172.13.

Howmet Aerospace Price Performance

Shares of NYSE HWM traded down $5.04 during mid-day trading on Friday, hitting $170.95. 3,263,932 shares of the company's stock traded hands, compared to its average volume of 2,826,564. The company has a market capitalization of $68.92 billion, a P/E ratio of 49.99, a PEG ratio of 2.22 and a beta of 1.48. Howmet Aerospace Inc. has a 1 year low of $90.71 and a 1 year high of $193.26. The company's 50-day moving average is $179.83 and its two-hundred day moving average is $153.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.08.

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 (EPS) 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 the consensus estimate of $1.99 billion. During the same period last year, the firm earned $0.67 earnings per share. The company's quarterly revenue was up 9.2% on a year-over-year basis. On average, equities analysts anticipate 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. Stockholders of record on Friday, August 8th will be paid a $0.12 dividend. The ex-dividend date is Friday, August 8th. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. Howmet Aerospace's dividend payout ratio (DPR) is currently 14.04%.

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.