Howmet Aerospace Inc. (NYSE:HWM) Shares Purchased by Truist Financial Corp

Truist Financial Corp boosted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,486 shares of the company’s stock after buying an additional 768 shares during the quarter. Truist Financial Corp’s holdings in Howmet Aerospace were worth $3,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Howmet Aerospace by 7.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,586 shares of the company’s stock worth $627,000 after buying an additional 836 shares during the last quarter. Cumberland Partners Ltd raised its position in Howmet Aerospace by 51.5% during the fourth quarter. Cumberland Partners Ltd now owns 115,670 shares of the company’s stock worth $6,216,000 after acquiring an additional 39,340 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Howmet Aerospace in the fourth quarter valued at about $183,000. CWM LLC grew its position in shares of Howmet Aerospace by 3.6% in the fourth quarter. CWM LLC now owns 8,666 shares of the company’s stock valued at $469,000 after purchasing an additional 299 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Howmet Aerospace by 0.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,869 shares of the company’s stock worth $2,645,000 after purchasing an additional 247 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.12% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HWM shares. Barclays upped their target price on Howmet Aerospace from $65.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company increased their price objective on Howmet Aerospace from $72.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial boosted their target price on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. UBS Group raised their price target on shares of Howmet Aerospace from $57.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group boosted their price objective on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.67.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM opened at $79.83 on Wednesday. The business has a 50-day moving average of $66.98 and a two-hundred day moving average of $58.41. The firm has a market capitalization of $32.59 billion, a PE ratio of 38.57, 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 current ratio of 1.97 and a quick ratio of 0.92. Howmet Aerospace Inc. has a 12 month low of $42.17 and a 12 month high of $80.35.

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

Howmet Aerospace Dividend Announcement

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

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.