Zurich Insurance Group Ltd FI Takes Position in Howmet Aerospace Inc. (NYSE:HWM)

Zurich Insurance Group Ltd FI purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 941,721 shares of the company's stock, valued at approximately $102,996,000. Howmet Aerospace comprises approximately 0.8% of Zurich Insurance Group Ltd FI's holdings, making the stock its 26th largest holding. Zurich Insurance Group Ltd FI owned 0.23% of Howmet Aerospace as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Howmet Aerospace by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company's stock valued at $5,153,220,000 after buying an additional 352,256 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Howmet Aerospace by 14.0% during the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company's stock worth $2,209,071,000 after purchasing an additional 2,486,649 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Howmet Aerospace by 0.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company's stock worth $1,445,210,000 after purchasing an additional 80,972 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Howmet Aerospace by 10.3% during the fourth quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock worth $1,197,315,000 after purchasing an additional 1,026,130 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Howmet Aerospace by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company's stock worth $1,070,267,000 after purchasing an additional 308,574 shares in the last quarter. Institutional investors own 90.46% of the company's stock.

Howmet Aerospace Trading Up 2.0%

NYSE HWM opened at $166.13 on Tuesday. Howmet Aerospace Inc. has a twelve month low of $76.83 and a twelve month high of $166.45. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. The stock has a market cap of $67.06 billion, a price-to-earnings ratio of 58.91, a PEG ratio of 1.92 and a beta of 1.37. The firm's 50 day moving average price is $135.65 and its two-hundred day moving average price is $125.61.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The firm had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the company posted $0.53 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 9th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, May 9th. Howmet Aerospace's payout ratio is 13.03%.

Insiders Place Their Bets

In other news, VP Barbara Lou Shultz sold 1,250 shares of the business'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 transaction, the vice president now directly owns 23,044 shares in the company, valued at $3,575,737.48. The trade was a 5.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the transaction, the chief executive officer now owns 236,544 shares in the company, valued at approximately $37,127,946.24. This 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 have sold 831,250 shares of company stock worth $130,517,863. Corporate insiders own 1.04% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on HWM shares. BTIG Research reissued a "buy" rating on shares of Howmet Aerospace in a report on Monday, May 5th. Benchmark boosted their target price on Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Morgan Stanley boosted their target price on Howmet Aerospace from $125.00 to $155.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their target price on Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, Barclays boosted their target price on Howmet Aerospace from $130.00 to $140.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $132.53.

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.

Want to see what other hedge funds are holding HWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Howmet Aerospace Inc. (NYSE:HWM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.