Westpac Banking Corp Lowers Position in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Westpac Banking Corp reduced its stake in Howmet Aerospace Inc. by 8.4% in the first quarter, now owning 40,986 shares valued at approximately $5.3 million after selling 3,781 shares.
• Howmet Aerospace recently announced an increase in its quarterly dividend to $0.12 per share, up from $0.10, representing a dividend yield of 0.3%.
• Despite fluctuations, Howmet Aerospace reported strong earnings results, with $0.91 earnings per share for the quarter, surpassing analysts' expectations of $0.87.

Westpac Banking Corp lowered its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,986 shares of the company's stock after selling 3,781 shares during the quarter. Westpac Banking Corp's holdings in Howmet Aerospace were worth $5,317,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Kapitalo Investimentos Ltda bought a new position in Howmet Aerospace in the 4th quarter valued at $30,000. Pinpoint Asset Management Ltd grew its stake 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 period. Hemington Wealth Management grew its stake in Howmet Aerospace by 46.6% in the 1st quarter. Hemington Wealth Management now owns 255 shares of the company's stock valued at $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 1st quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock valued at $34,000 after purchasing an additional 141 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in Howmet Aerospace by 100.7% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 279 shares of the company's stock valued at $36,000 after purchasing an additional 140 shares during the period. Institutional investors own 90.46% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HWM. 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. JPMorgan Chase & Co. upped their price objective on Howmet Aerospace from $150.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Wall Street Zen raised Howmet Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays reaffirmed an "overweight" rating and set a $190.00 price target (up previously from $140.00) on shares of Howmet Aerospace in a research report on Monday, August 4th. Finally, Morgan Stanley upped their price target on Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $172.13.

Howmet Aerospace Price Performance

NYSE HWM traded down $4.18 during trading hours on Wednesday, hitting $176.72. The company had a trading volume of 3,174,023 shares, compared to its average volume of 2,811,876. Howmet Aerospace Inc. has a 52 week low of $90.71 and a 52 week high of $193.26. The firm has a 50 day simple moving average of $179.89 and a 200 day simple moving average of $152.16. 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 firm has a market capitalization of $71.24 billion, a price-to-earnings ratio of 51.67, a PEG ratio of 2.31 and a beta of 1.48.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company earned $0.67 EPS. The firm's revenue was up 9.2% compared to the same quarter last year. Equities research analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The firm 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 represents a $0.48 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, August 8th. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's payout ratio is 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.