Howmet Aerospace Inc. (NYSE:HWM) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co increased its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,493 shares of the company’s stock after acquiring an additional 3,234 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Howmet Aerospace were worth $9,069,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HWM. Raymond James Financial Services Advisors Inc. raised its stake in Howmet Aerospace by 3.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 32,642 shares of the company’s stock worth $1,767,000 after acquiring an additional 1,075 shares in the last quarter. Pacer Advisors Inc. raised its stake in Howmet Aerospace by 43.0% during the 4th quarter. Pacer Advisors Inc. now owns 44,555 shares of the company’s stock worth $2,411,000 after acquiring an additional 13,396 shares in the last quarter. PFG Investments LLC acquired a new stake in Howmet Aerospace during the 4th quarter worth $211,000. Blue Trust Inc. raised its stake in Howmet Aerospace by 33.1% during the 4th quarter. Blue Trust Inc. now owns 1,089 shares of the company’s stock worth $59,000 after acquiring an additional 271 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Howmet Aerospace by 1.1% during the 4th quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 390,114 shares of the company’s stock worth $21,113,000 after acquiring an additional 4,305 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Stock Up 3.4 %

HWM stock opened at $82.31 on Friday. Howmet Aerospace Inc. has a 52 week low of $42.94 and a 52 week high of $85.52. The company has a market cap of $33.60 billion, a P/E ratio of 39.76, a P/E/G ratio of 1.45 and a beta of 1.45. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $81.22 and its 200 day moving average price is $70.56.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, research analysts expect that Howmet Aerospace Inc. will post 2.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HWM. Truist Financial lifted their price objective on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Barclays lifted their price objective on shares of Howmet Aerospace from $65.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. BTIG Research began coverage on shares of Howmet Aerospace in a research note on Wednesday, June 26th. They issued a “buy” rating and a $95.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Argus lifted their target price on shares of Howmet Aerospace from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.76.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $84.26, for a total value of $2,748,055.64. Following the sale, the executive vice president now owns 217,687 shares of the company’s stock, valued at $18,342,306.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.12% of the company’s stock.

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.