Cinctive Capital Management LP Acquires Shares of 5,000 Howmet Aerospace Inc. (NYSE:HWM)

Cinctive Capital Management LP bought a new position in Howmet Aerospace Inc. (NYSE:HWM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the company’s stock, valued at approximately $547,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Huntington National Bank boosted its holdings in Howmet Aerospace by 14.3% in the 4th quarter. Huntington National Bank now owns 1,744 shares of the company’s stock worth $191,000 after buying an additional 218 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Howmet Aerospace by 21.2% in the fourth quarter. Meeder Advisory Services Inc. now owns 5,131 shares of the company’s stock valued at $561,000 after purchasing an additional 899 shares in the last quarter. Groupama Asset Managment grew its position in shares of Howmet Aerospace by 104.2% in the fourth quarter. Groupama Asset Managment now owns 19,254 shares of the company’s stock valued at $2,123,000 after purchasing an additional 9,823 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Howmet Aerospace by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company’s stock valued at $1,070,267,000 after purchasing an additional 308,574 shares during the period. Finally, Diametric Capital LP purchased a new stake in Howmet Aerospace during the 4th quarter worth about $258,000. Institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HWM. The Goldman Sachs Group upped their price target 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 upped their target price 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. Truist Financial reissued a “buy” rating and issued a $140.00 price target (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. JPMorgan Chase & Co. upped their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Barclays boosted their target price on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.28.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $124.97 on Friday. The company’s fifty day moving average is $129.68 and its 200 day moving average is $116.73. 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 Inc. has a 52 week low of $62.80 and a 52 week high of $140.55. The stock has a market cap of $50.62 billion, a PE ratio of 44.32, a PEG ratio of 1.92 and a beta of 1.25.

Howmet Aerospace (NYSE:HWM) last released its 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 return on equity of 25.74% and a net margin of 15.55%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. Research analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

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

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.