Bank of Montreal Can Trims Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Bank of Montreal Can lessened its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 3.3% in the fourth quarter, HoldingsChannel reports. The firm owned 446,277 shares of the company’s stock after selling 15,193 shares during the quarter. Bank of Montreal Can’s holdings in Howmet Aerospace were worth $48,809,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HWM. Norges Bank acquired a new stake in shares of Howmet Aerospace during the 4th quarter worth about $1,001,558,000. JPMorgan Chase & Co. boosted its position in Howmet Aerospace by 14.0% during the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company’s stock worth $2,209,071,000 after acquiring an additional 2,486,649 shares during the last quarter. AustralianSuper Pty Ltd grew its stake in Howmet Aerospace by 1,000.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 930,533 shares of the company’s stock worth $101,772,000 after acquiring an additional 845,941 shares during the period. Raymond James Financial Inc. acquired a new position in Howmet Aerospace in the 4th quarter valued at $61,740,000. Finally, Sei Investments Co. lifted its stake in shares of Howmet Aerospace by 82.4% during the 4th quarter. Sei Investments Co. now owns 1,106,586 shares of the company’s stock worth $121,026,000 after purchasing an additional 499,978 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $128.27 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. Howmet Aerospace Inc. has a 1-year low of $62.80 and a 1-year high of $140.55. The company has a market capitalization of $51.95 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 1.92 and a beta of 1.25. The business has a 50-day moving average of $128.84 and a 200-day moving average of $117.67.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, beating 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 business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. On average, equities analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Tuesday, July 1st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. Howmet Aerospace’s payout ratio is currently 14.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group lifted their price objective on Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company lowered their price target on Howmet Aerospace from $146.00 to $132.00 and set an “overweight” rating for the company in a report on Tuesday. Truist Financial reiterated a “buy” rating and set a $140.00 price objective (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Barclays boosted 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. Finally, Northcoast Research raised shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.28.

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.