Moors & Cabot Inc. trimmed its position in Howmet Aerospace Inc. (NYSE:HWM – Free Report) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,966 shares of the company’s stock after selling 449 shares during the period. Moors & Cabot Inc.’s holdings in Howmet Aerospace were worth $692,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in Howmet Aerospace by 18.1% in the second quarter. Cetera Investment Advisers now owns 16,031 shares of the company’s stock valued at $794,000 after acquiring an additional 2,455 shares during the period. Veritable L.P. lifted its holdings in Howmet Aerospace by 15.6% in the second quarter. Veritable L.P. now owns 8,278 shares of the company’s stock valued at $410,000 after acquiring an additional 1,116 shares during the period. Spire Wealth Management lifted its holdings in Howmet Aerospace by 34.3% in the second quarter. Spire Wealth Management now owns 1,356 shares of the company’s stock valued at $67,000 after acquiring an additional 346 shares during the period. AGF Management Ltd. lifted its holdings in Howmet Aerospace by 22.5% in the second quarter. AGF Management Ltd. now owns 2,791,963 shares of the company’s stock valued at $138,370,000 after acquiring an additional 513,356 shares during the period. Finally, TD Asset Management Inc lifted its holdings in Howmet Aerospace by 2.2% in the second quarter. TD Asset Management Inc now owns 159,007 shares of the company’s stock valued at $7,880,000 after acquiring an additional 3,443 shares during the period. 88.67% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have commented on HWM. Truist Financial reissued a “hold” rating and issued a $47.00 target price on shares of Howmet Aerospace in a report on Friday, September 22nd. Bank of America lifted their price target on Howmet Aerospace from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on Howmet Aerospace in a research note on Wednesday, September 27th. They set a “buy” rating and a $59.00 price target for the company. Northcoast Research initiated coverage on Howmet Aerospace in a research note on Thursday, October 5th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus target price of $53.69.
Howmet Aerospace Price Performance
HWM opened at $51.47 on Friday. The company’s 50 day simple moving average is $46.48 and its 200 day simple moving average is $47.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.94 and a current ratio of 2.14. Howmet Aerospace Inc. has a 1 year low of $36.66 and a 1 year high of $52.13. The stock has a market capitalization of $21.19 billion, a PE ratio of 33.86, a P/E/G ratio of 1.35 and a beta of 1.44.
Howmet Aerospace Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Friday, November 10th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.39%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, November 8th. Howmet Aerospace’s payout ratio is 13.16%.
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.
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