Sigma Planning Corp Takes Position in Howmet Aerospace Inc. (NYSE:HWM)

Sigma Planning Corp purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 9,163 shares of the company's stock, valued at approximately $1,189,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of HWM. Wealth Enhancement Advisory Services LLC raised its position in shares of Howmet Aerospace by 233.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 140,883 shares of the company's stock worth $18,277,000 after purchasing an additional 98,642 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Howmet Aerospace by 126.1% during the 1st quarter. Park Avenue Securities LLC now owns 24,207 shares of the company's stock worth $3,140,000 after purchasing an additional 13,500 shares during the last quarter. Private Trust Co. NA raised its position in shares of Howmet Aerospace by 65.4% during the 1st quarter. Private Trust Co. NA now owns 673 shares of the company's stock worth $87,000 after purchasing an additional 266 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Howmet Aerospace by 11.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,532 shares of the company's stock worth $4,350,000 after purchasing an additional 3,465 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Howmet Aerospace by 22.1% during the 1st quarter. GAMMA Investing LLC now owns 10,238 shares of the company's stock worth $1,328,000 after purchasing an additional 1,854 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Stock Down 0.2%

Shares of NYSE HWM opened at $184.30 on Thursday. Howmet Aerospace Inc. has a 52-week low of $77.22 and a 52-week high of $187.51. The firm has a fifty day moving average of $172.10 and a 200-day moving average of $142.97. The stock has a market capitalization of $74.40 billion, a PE ratio of 60.03, a P/E/G ratio of 2.71 and a beta of 1.43. The company has a quick ratio of 1.07, a current ratio of 2.30 and a debt-to-equity ratio of 0.70.

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

Insider Buying and Selling

In related news, VP Barbara Lou Shultz sold 1,250 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $155.17, for a total transaction of $193,962.50. Following the completion of the sale, the vice president directly owned 23,044 shares of the company's stock, valued at approximately $3,575,737.48. This represents a 5.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $125,568,000.00. Following the sale, the chief executive officer directly owned 236,544 shares of the company's stock, valued at approximately $37,127,946.24. This trade represents a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 831,250 shares of company stock valued at $130,517,863. Company insiders own 1.04% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HWM. Susquehanna lifted their price objective on Howmet Aerospace from $170.00 to $210.00 and gave the stock a "positive" rating in a research report on Monday. Royal Bank Of Canada restated an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Truist Financial lifted their target price on shares of Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Northcoast Research raised shares of Howmet Aerospace from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Finally, BTIG Research reaffirmed a "buy" rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $147.00.

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.

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