Howmet Aerospace Inc. (NYSE:HWM) Holdings Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 956,084 shares of the company's stock after selling 4,863 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Howmet Aerospace worth $124,033,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Overbrook Management Corp bought a new stake in shares of Howmet Aerospace during the 1st quarter valued at about $5,795,000. Westend Capital Management LLC grew its position in shares of Howmet Aerospace by 93,089.6% during the 1st quarter. Westend Capital Management LLC now owns 71,756 shares of the company's stock valued at $9,309,000 after buying an additional 71,679 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Howmet Aerospace by 335.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 513,101 shares of the company's stock valued at $67,616,000 after buying an additional 395,402 shares during the last quarter. Vista Investment Partners II LLC bought a new stake in shares of Howmet Aerospace during the 1st quarter valued at about $205,000. Finally, Kessler Investment Group LLC acquired a new stake in shares of Howmet Aerospace in the first quarter valued at approximately $5,824,000. Institutional investors own 90.46% of the company's stock.

Howmet Aerospace Price Performance

NYSE:HWM traded down $10.06 during trading hours on Tuesday, reaching $176.07. 6,059,682 shares of the company's stock were exchanged, compared to its average volume of 2,798,547. The company has a market capitalization of $71.07 billion, a P/E ratio of 57.35, a price-to-earnings-growth ratio of 2.80 and a beta of 1.43. Howmet Aerospace Inc. has a 12 month low of $76.85 and a 12 month high of $187.51. 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 business's 50-day simple moving average is $162.89 and its two-hundred day simple moving average is $137.59.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. Howmet Aerospace had a net margin of 16.64% and a return on equity of 27.25%. 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 firm posted $0.53 earnings per share. Sell-side analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 9th were given a $0.10 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.23%. Howmet Aerospace's dividend payout ratio (DPR) is presently 13.03%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HWM shares. Wells Fargo & Company raised their price target on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. BTIG Research restated a "buy" rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Royal Bank Of Canada restated an "outperform" rating on shares of Howmet Aerospace in a research note on Monday. UBS Group raised their price target on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Benchmark raised their price target on shares of Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $142.13.

Insider Activity at Howmet Aerospace

In related news, CEO John C. Plant sold 800,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were 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 in the company, valued at approximately $37,127,946.24. This represents a 77.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Neil Edward Marchuk sold 30,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the completion of the sale, the executive vice president owned 131,859 shares of the company's stock, valued at approximately $20,903,607.27. This trade represents a 18.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 831,250 shares of company stock worth $130,517,863. 1.12% of the stock is owned by corporate insiders.

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.