Allianz SE Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

Allianz SE bought a new stake in Howmet Aerospace Inc. (NYSE:HWM) in the 4th quarter, HoldingsChannel.com reports. The firm bought 70,879 shares of the company’s stock, valued at approximately $7,805,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Howmet Aerospace by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company’s stock valued at $5,153,220,000 after acquiring an additional 352,256 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Howmet Aerospace by 14.0% in the 4th quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company’s stock valued at $2,209,071,000 after purchasing an additional 2,486,649 shares during the last quarter. State Street Corp boosted its position in shares of Howmet Aerospace by 2.3% in the 3rd quarter. State Street Corp now owns 17,440,176 shares of the company’s stock valued at $1,748,378,000 after purchasing an additional 384,171 shares during the period. Geode Capital Management LLC grew its stake in Howmet Aerospace by 5.0% during the 3rd quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock worth $949,382,000 after buying an additional 453,275 shares during the last quarter. Finally, Norges Bank acquired a new position in Howmet Aerospace during the fourth quarter worth approximately $1,001,558,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HWM has been the topic of a number of recent research reports. Barclays lifted 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, February 18th. The Goldman Sachs Group upped their price target on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Truist Financial restated a “buy” rating and set a $140.00 price objective (up previously from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM opened at $129.61 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. Howmet Aerospace Inc. has a one year low of $62.80 and a one year high of $140.55. The business’s 50-day simple moving average is $129.41 and its 200 day simple moving average is $115.73. The company has a market cap of $52.50 billion, a P/E ratio of 45.96, a PEG ratio of 1.92 and a beta of 1.54.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. On average, sell-side analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders 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 annualized dividend and a dividend yield of 0.31%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s payout ratio is presently 14.18%.

About Howmet Aerospace

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.