Zurcher Kantonalbank Zurich Cantonalbank Acquires 6,953 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 2.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 244,489 shares of the company’s stock after acquiring an additional 6,953 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Howmet Aerospace were worth $26,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Argentarii LLC acquired a new position in shares of Howmet Aerospace in the 4th quarter valued at $980,000. Permanent Capital Management LP bought a new position in Howmet Aerospace during the fourth quarter worth about $318,000. Lifeworks Advisors LLC bought a new position in Howmet Aerospace during the fourth quarter worth about $214,000. PNC Financial Services Group Inc. grew its position in shares of Howmet Aerospace by 5.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 65,570 shares of the company’s stock worth $7,171,000 after buying an additional 3,676 shares during the period. Finally, Banco Santander S.A. bought a new stake in shares of Howmet Aerospace in the 4th quarter valued at about $468,000. 90.46% of the stock is owned by institutional investors.

Howmet Aerospace Trading Up 2.5 %

NYSE:HWM opened at $125.39 on Wednesday. The company has a market cap of $50.79 billion, a P/E ratio of 44.47, a price-to-earnings-growth ratio of 1.92 and a beta of 1.54. Howmet Aerospace Inc. has a twelve month low of $62.80 and a twelve month high of $140.55. The business has a 50 day moving average price of $125.51 and a two-hundred day moving average price of $112.77. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Thursday, February 13th. The company reported $0.74 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 business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. As a group, analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were given a $0.10 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s payout ratio is currently 14.18%.

Analysts Set New Price Targets

Several research analysts recently weighed in on HWM shares. JPMorgan Chase & Co. lifted their price objective on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. The Goldman Sachs Group lifted their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Truist Financial restated a “buy” rating and issued a $140.00 price objective (up previously from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. Barclays raised their price objective on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Bank of America boosted their target price on Howmet Aerospace from $100.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.28.

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.