Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,245 shares of the company’s stock after selling 900 shares during the period. State of Michigan Retirement System’s holdings in Howmet Aerospace were worth $12,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HWM. RiverPark Advisors LLC acquired a new stake in Howmet Aerospace in the third quarter valued at $26,000. R Squared Ltd purchased a new position in shares of Howmet Aerospace in the 4th quarter valued at about $26,000. Hollencrest Capital Management acquired a new stake in shares of Howmet Aerospace during the 3rd quarter worth about $30,000. Global Trust Asset Management LLC purchased a new stake in Howmet Aerospace during the fourth quarter worth approximately $33,000. Finally, Hanson & Doremus Investment Management acquired a new position in Howmet Aerospace in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on HWM. UBS Group raised their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Bank of America lifted their price target on shares of Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird boosted their price target on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Truist Financial reaffirmed a “buy” rating and set a $140.00 price objective (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Finally, Royal Bank of Canada raised their price target on Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace Stock Up 2.6 %

Shares of Howmet Aerospace stock opened at $130.38 on Thursday. The company has a market cap of $52.81 billion, a P/E ratio of 46.23, a PEG ratio of 1.92 and a beta of 1.54. The firm has a fifty day moving average of $124.44 and a two-hundred day moving average of $111.87. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. Howmet Aerospace Inc. has a one year low of $62.80 and a one year high of $140.55.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. On average, analysts forecast 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 was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. Howmet Aerospace’s payout ratio is 14.18%.

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.