Sumitomo Life Insurance Co. Reduces Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Sumitomo Life Insurance Co. lowered its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,769 shares of the company’s stock after selling 409 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Howmet Aerospace were worth $799,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HWM. Louisiana State Employees Retirement System purchased a new stake in shares of Howmet Aerospace in the 4th quarter worth $1,283,000. Simplicity Solutions LLC lifted its stake in shares of Howmet Aerospace by 7.1% during the 4th quarter. Simplicity Solutions LLC now owns 4,922 shares of the company’s stock worth $266,000 after purchasing an additional 326 shares during the last quarter. Clarius Group LLC purchased a new stake in shares of Howmet Aerospace during the 4th quarter worth $209,000. Valeo Financial Advisors LLC lifted its stake in shares of Howmet Aerospace by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,571 shares of the company’s stock worth $247,000 after purchasing an additional 200 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in shares of Howmet Aerospace during the 4th quarter worth $3,957,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada assumed coverage on Howmet Aerospace in a research note on Monday, March 18th. They set an “outperform” rating and a $75.00 price objective for the company. Barclays upped their price objective on Howmet Aerospace from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. upped their price objective on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. UBS Group upped their target price on Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, KeyCorp upped their target price on Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.08.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the 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 transaction, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.23% of the company’s stock.

Howmet Aerospace Stock Down 0.8 %

Shares of HWM stock opened at $63.48 on Tuesday. The stock’s 50-day simple moving average is $65.33 and its 200-day simple moving average is $56.07. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.87 and a current ratio of 1.86. The firm has a market capitalization of $25.92 billion, a PE ratio of 34.69, a P/E/G ratio of 1.67 and a beta of 1.43. Howmet Aerospace Inc. has a fifty-two week low of $42.17 and a fifty-two week high of $69.55.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Tuesday, February 13th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business earned $0.38 earnings per share. The company’s revenue was up 14.4% compared to the same quarter last year. Equities analysts expect that Howmet Aerospace Inc. will post 2.18 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were paid a $0.05 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.32%. Howmet Aerospace’s payout ratio is 10.93%.

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.