New York Life Investment Management LLC Sells 477 Shares of Howmet Aerospace Inc. (NYSE:HWM)

New York Life Investment Management LLC reduced its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,982 shares of the company’s stock after selling 477 shares during the period. New York Life Investment Management LLC’s holdings in Howmet Aerospace were worth $3,030,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Howmet Aerospace by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 23,507,379 shares of the company’s stock valued at $1,087,216,000 after buying an additional 897,463 shares in the last quarter. FMR LLC lifted its stake in Howmet Aerospace by 21.2% in the third quarter. FMR LLC now owns 15,086,149 shares of the company’s stock valued at $697,734,000 after buying an additional 2,635,894 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 during the last quarter. Invesco Ltd. boosted its holdings in Howmet Aerospace by 5.4% during the third quarter. Invesco Ltd. now owns 9,107,293 shares of the company’s stock worth $421,212,000 after buying an additional 463,594 shares during the last quarter. Finally, Northern Trust Corp increased its stake 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 acquiring an additional 283,061 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the business’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 completion of the sale, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Performance

HWM opened at $78.89 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.97 and a debt-to-equity ratio of 0.86. Howmet Aerospace Inc. has a 12-month low of $42.17 and a 12-month high of $79.47. The business has a 50 day moving average of $66.70 and a 200-day moving average of $58.16. The stock has a market cap of $32.22 billion, a price-to-earnings ratio of 38.11, a PEG ratio of 1.91 and a beta of 1.41.

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

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a $0.05 dividend. 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 currently 9.66%.

Analyst Ratings Changes

Several research analysts recently weighed in on HWM shares. Robert W. Baird lifted their price objective on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays lifted their price objective on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Royal Bank of Canada increased their target price on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday. 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 research note on Friday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.77.

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.