Axxcess Wealth Management LLC Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

Axxcess Wealth Management LLC purchased a new stake in Howmet Aerospace Inc. (NYSE:HWM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,990 shares of the company’s stock, valued at approximately $378,000.

Several other institutional investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA raised its holdings in Howmet Aerospace by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 23,507,379 shares of the company’s stock valued at $1,087,216,000 after acquiring an additional 897,463 shares in the last quarter. FMR LLC lifted its position in Howmet Aerospace by 21.2% during the third quarter. FMR LLC now owns 15,086,149 shares of the company’s stock worth $697,734,000 after purchasing an additional 2,635,894 shares during the period. JPMorgan Chase & Co. grew its stake in Howmet Aerospace by 118.7% during the third quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock worth $612,307,000 after buying an additional 7,184,620 shares in the last quarter. Invesco Ltd. increased its holdings in Howmet Aerospace by 5.4% in the 3rd quarter. Invesco Ltd. now owns 9,107,293 shares of the company’s stock valued at $421,212,000 after buying an additional 463,594 shares during the period. Finally, Northern Trust Corp raised its position in shares of Howmet Aerospace by 8.2% in the 3rd quarter. Northern Trust Corp now owns 3,718,495 shares of the company’s stock valued at $171,980,000 after buying an additional 283,061 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. UBS Group lifted their price objective on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Argus upped their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. lifted their target price on Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. The Goldman Sachs Group increased their target price on shares of Howmet Aerospace from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Truist Financial lifted their price target on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.67.

Howmet Aerospace Trading Up 2.0 %

NYSE:HWM opened at $81.42 on Thursday. Howmet Aerospace Inc. has a 52 week low of $42.17 and a 52 week high of $81.47. The firm’s fifty day moving average is $67.26 and its 200-day moving average is $58.67. The firm has a market cap of $33.23 billion, a P/E ratio of 39.33, a P/E/G ratio of 1.89 and a beta of 1.41. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The business’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Equities analysts expect that Howmet Aerospace Inc. will post 2.37 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio is presently 9.66%.

Insiders Place Their Bets

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the transaction, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.12% of the company’s stock.

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.