Howmet Aerospace Inc. (NYSE:HWM) CEO Sells $125,568,000.00 in Stock

Howmet Aerospace Inc. (NYSE:HWM) CEO John C. Plant sold 800,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the completion of the transaction, the chief executive officer now directly owns 236,544 shares of the company’s stock, valued at $37,127,946.24. The trade was a 77.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Howmet Aerospace Price Performance

NYSE:HWM opened at $158.33 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The company has a 50 day moving average price of $132.66 and a 200-day moving average price of $123.72. Howmet Aerospace Inc. has a 1-year low of $76.83 and a 1-year high of $161.58. The firm has a market cap of $63.91 billion, a price-to-earnings ratio of 56.15, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 earnings per share. Equities research analysts forecast that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 9th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, May 9th. Howmet Aerospace’s payout ratio is presently 13.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Morgan Stanley upped their target price on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group lifted their price target on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Royal Bank of Canada increased their price objective on Howmet Aerospace from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Truist Financial decreased their target price on Howmet Aerospace from $140.00 to $136.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.53.

Institutional Trading of Howmet Aerospace

Several institutional investors have recently modified their holdings of HWM. Norges Bank purchased a new position in shares of Howmet Aerospace in the fourth quarter valued at approximately $1,001,558,000. JPMorgan Chase & Co. raised its stake in Howmet Aerospace by 21.1% in the 1st quarter. JPMorgan Chase & Co. now owns 24,450,547 shares of the company’s stock valued at $3,171,970,000 after purchasing an additional 4,252,401 shares during the last quarter. Nuveen LLC purchased a new position in Howmet Aerospace in the 1st quarter valued at $366,209,000. Winslow Capital Management LLC acquired a new stake in Howmet Aerospace during the 4th quarter worth $265,844,000. Finally, GAMMA Investing LLC grew its holdings in shares of Howmet Aerospace by 15,741.8% during the first quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company’s stock worth $1,723,040,000 after buying an additional 1,319,792 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

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.