NewEdge Wealth LLC Buys 3,861 Shares of Howmet Aerospace Inc. (NYSE:HWM)

NewEdge Wealth LLC raised its stake in Howmet Aerospace Inc. (NYSE:HWM) by 8.1% in the fourth quarter, Holdings Channel reports. The firm owned 51,599 shares of the company’s stock after acquiring an additional 3,861 shares during the quarter. NewEdge Wealth LLC’s holdings in Howmet Aerospace were worth $5,643,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Lake Street Advisors Group LLC bought a new position in Howmet Aerospace in the fourth quarter valued at approximately $208,000. Cavalier Investments LLC grew its stake in Howmet Aerospace by 4.3% in the fourth quarter. Cavalier Investments LLC now owns 68,398 shares of the company’s stock valued at $7,481,000 after purchasing an additional 2,832 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Howmet Aerospace by 20.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,665,924 shares of the company’s stock valued at $182,202,000 after purchasing an additional 287,783 shares in the last quarter. TruNorth Capital Management LLC grew its stake in Howmet Aerospace by 198.5% in the fourth quarter. TruNorth Capital Management LLC now owns 2,000 shares of the company’s stock valued at $219,000 after purchasing an additional 1,330 shares in the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of Howmet Aerospace by 61.2% in the fourth quarter. Rothschild Investment LLC now owns 832 shares of the company’s stock valued at $91,000 after buying an additional 316 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their price objective on Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Truist Financial reaffirmed a “buy” rating and issued a $140.00 price objective (up from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. Finally, UBS Group raised their price objective on Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average target price of $123.28.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $133.62 on Friday. The stock has a market capitalization of $54.12 billion, a PE ratio of 47.38, a P/E/G ratio of 1.92 and a beta of 1.50. 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 business has a fifty day moving average price of $122.85 and a two-hundred day moving average price of $110.73. Howmet Aerospace Inc. has a fifty-two week low of $62.80 and a fifty-two week high of $140.55.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. As a group, equities analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.30%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s payout ratio is currently 14.18%.

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.