Citigroup Inc. Cuts Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Citigroup Inc. lessened its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 1.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 617,905 shares of the company’s stock after selling 11,953 shares during the period. Citigroup Inc.’s holdings in Howmet Aerospace were worth $61,945,000 as of its most recent SEC filing.

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

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $118.44 on Friday. The company has a 50 day moving average price of $104.62 and a 200-day moving average price of $92.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24. Howmet Aerospace Inc. has a fifty-two week low of $51.47 and a fifty-two week high of $119.28. The company has a market capitalization of $48.12 billion, a PE ratio of 45.21, a P/E/G ratio of 1.57 and a beta of 1.46.

Howmet Aerospace Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HWM. JPMorgan Chase & Co. raised their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Susquehanna increased their price target on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a 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 company an “overweight” rating in a report on Tuesday, November 12th. Finally, Royal Bank of Canada increased their price target 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.41.

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.