Covenant Asset Management LLC Increases Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Covenant Asset Management LLC lifted its position in Howmet Aerospace Inc. (NYSE:HWM) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 49,793 shares of the company’s stock after buying an additional 220 shares during the period. Howmet Aerospace makes up about 0.8% of Covenant Asset Management LLC’s portfolio, making the stock its 23rd biggest holding. Covenant Asset Management LLC’s holdings in Howmet Aerospace were worth $4,992,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Cultivar Capital Inc. acquired a new position in Howmet Aerospace in the second quarter valued at about $26,000. RiverPark Advisors LLC acquired a new position in Howmet Aerospace in the third quarter valued at about $26,000. LGT Financial Advisors LLC lifted its position in Howmet Aerospace by 278.7% in the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after buying an additional 262 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Howmet Aerospace during the third quarter worth about $30,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Howmet Aerospace during the second quarter worth about $32,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $117.27 on Friday. The firm has a market capitalization of $47.64 billion, a P/E ratio of 44.76, a P/E/G ratio of 1.56 and a beta of 1.46. Howmet Aerospace Inc. has a 52 week low of $51.47 and a 52 week high of $119.28. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76. The firm’s 50 day moving average is $104.16 and its two-hundred day moving average is $92.16.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 12.21%.

Analyst Ratings Changes

HWM has been the topic of several research reports. Susquehanna increased their price target on shares of Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price target on shares of Howmet Aerospace from $113.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Barclays increased their price target on shares of Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. BTIG Research increased their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Bank of America increased their price target on shares of Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Howmet Aerospace has an average rating of “Moderate Buy” and an average price target of $115.41.

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.