New York State Common Retirement Fund Cuts Stake in Howmet Aerospace Inc. (NYSE:HWM)

New York State Common Retirement Fund reduced its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 4.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 217,963 shares of the company’s stock after selling 10,948 shares during the period. New York State Common Retirement Fund’s holdings in Howmet Aerospace were worth $23,839,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in HWM. Creative Planning grew its holdings in Howmet Aerospace by 14.3% during the 3rd quarter. Creative Planning now owns 52,170 shares of the company’s stock valued at $5,230,000 after buying an additional 6,537 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Howmet Aerospace by 50.3% in the third quarter. Blue Trust Inc. now owns 2,542 shares of the company’s stock valued at $255,000 after purchasing an additional 851 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Howmet Aerospace by 42.9% in the third quarter. Sequoia Financial Advisors LLC now owns 3,950 shares of the company’s stock valued at $396,000 after purchasing an additional 1,185 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Howmet Aerospace by 20.3% in the third quarter. Signaturefd LLC now owns 4,279 shares of the company’s stock valued at $429,000 after purchasing an additional 722 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Howmet Aerospace by 2.6% in the third quarter. Private Advisor Group LLC now owns 17,009 shares of the company’s stock valued at $1,705,000 after purchasing an additional 433 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday. Royal Bank of Canada raised their target price on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Truist Financial reissued a “buy” rating and issued a $140.00 target price (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Wells Fargo & Company lifted their price objective on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, UBS Group lifted their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.28.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $129.83 on Friday. The company has a market capitalization of $52.58 billion, a PE ratio of 46.04, a P/E/G ratio of 1.94 and a beta of 1.50. 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 company has a 50-day simple moving average of $121.18 and a two-hundred day simple moving average of $109.59. Howmet Aerospace Inc. has a one year low of $62.80 and a one year high of $140.55.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. Research analysts expect that Howmet Aerospace Inc. will post 3.26 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.10 per share. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. Howmet Aerospace’s payout ratio is presently 14.18%.

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.