Zions Bancorporation National Association UT Makes New $262,000 Investment in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Zions Bancorporation National Association UT has made a new investment of approximately $262,000 in shares of Howmet Aerospace Inc., purchasing 2,022 shares during the first quarter.
• Analysts show strong confidence in Howmet Aerospace, with multiple firms setting new price targets, increasing from $140.00 to as high as $205.00, and a consensus rating of "Moderate Buy."
• Howmet Aerospace reported a 9.2% year-over-year revenue increase and exceeded earnings estimates with $0.91 EPS for the quarter ending July 31st.

Zions Bancorporation National Association UT purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,022 shares of the company's stock, valued at approximately $262,000.

A number of other hedge funds have also modified their holdings of HWM. Pinpoint Asset Management Ltd grew its position in shares of Howmet Aerospace by 42.8% during the first quarter. Pinpoint Asset Management Ltd now owns 237 shares of the company's stock worth $31,000 after purchasing an additional 71 shares in the last quarter. Hemington Wealth Management grew its holdings in shares of Howmet Aerospace by 46.6% in the first quarter. Hemington Wealth Management now owns 255 shares of the company's stock valued at $33,000 after purchasing an additional 81 shares in the last quarter. CVA Family Office LLC increased its position in Howmet Aerospace by 15.7% in the first quarter. CVA Family Office LLC now owns 605 shares of the company's stock worth $78,000 after purchasing an additional 82 shares during the last quarter. Mount Lucas Management LP raised its stake in Howmet Aerospace by 3.2% during the first quarter. Mount Lucas Management LP now owns 2,661 shares of the company's stock valued at $345,000 after purchasing an additional 82 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Howmet Aerospace by 4.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,971 shares of the company's stock valued at $256,000 after acquiring an additional 92 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HWM has been the topic of a number of analyst reports. Barclays reiterated an "overweight" rating and set a $190.00 price objective (up previously from $140.00) on shares of Howmet Aerospace in a research report on Monday, August 4th. Benchmark raised their target price on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Truist Financial lifted their price objective on Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Wall Street Zen raised shares of Howmet Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, BTIG Research set a $205.00 price target on Howmet Aerospace and gave the company a "buy" rating in a report on Monday, August 4th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $172.13.

Howmet Aerospace Stock Down 0.5%

Shares of HWM opened at $180.67 on Monday. The stock has a fifty day simple moving average of $179.54 and a two-hundred day simple moving average of $151.41. The company has a quick ratio of 1.08, a current ratio of 2.31 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $72.83 billion, a PE ratio of 52.83, a price-to-earnings-growth ratio of 2.31 and a beta of 1.48. Howmet Aerospace Inc. has a 52-week low of $90.71 and a 52-week high of $193.26.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings results 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 business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the firm earned $0.67 EPS. The business's revenue was up 9.2% on a year-over-year basis. As a group, equities analysts forecast that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a 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 currently 14.04%.

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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