Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. trimmed its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 74.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,314 shares of the company’s stock after selling 91,789 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Howmet Aerospace were worth $1,749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in HWM. Venturi Wealth Management LLC lifted its holdings in shares of Howmet Aerospace by 61.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock valued at $26,000 after buying an additional 212 shares during the period. Financial Freedom LLC acquired a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $29,000. Headinvest LLC acquired a new stake in shares of Howmet Aerospace in the 3rd quarter valued at approximately $30,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Howmet Aerospace in the 3rd quarter valued at approximately $31,000. Finally, Clear Street Markets LLC lifted its holdings in shares of Howmet Aerospace by 93.8% in the 1st quarter. Clear Street Markets LLC now owns 721 shares of the company’s stock valued at $31,000 after buying an additional 349 shares during the period. 90.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Sanford C. Bernstein assumed coverage on Howmet Aerospace in a report on Friday, January 5th. They issued an “outperform” rating and a $67.00 price target for the company. Robert W. Baird raised their price objective on Howmet Aerospace from $65.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Royal Bank of Canada assumed coverage on Howmet Aerospace in a research note on Monday, March 18th. They issued an “outperform” rating and a $75.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, Truist Financial raised Howmet Aerospace from a “hold” rating to a “buy” rating and raised their price objective for the company from $47.00 to $74.00 in a research note on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $64.03 on Wednesday. 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 stock has a fifty day moving average of $65.44 and a two-hundred day moving average of $56.19. The company has a market capitalization of $26.15 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 1.65 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 released its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. Howmet Aerospace’s revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share. On average, analysts anticipate that Howmet Aerospace Inc. will post 2.18 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Thursday, February 8th. Howmet Aerospace’s dividend payout ratio is currently 10.93%.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 45,000 shares of Howmet Aerospace stock in a transaction on 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 of the company’s stock, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.23% of the company’s stock.

Howmet Aerospace Company 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.