PNC Financial Services Group Inc. Buys 3,676 Shares of Howmet Aerospace Inc. (NYSE:HWM)

PNC Financial Services Group Inc. lifted its stake in Howmet Aerospace Inc. (NYSE:HWM) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,570 shares of the company’s stock after purchasing an additional 3,676 shares during the period. PNC Financial Services Group Inc.’s holdings in Howmet Aerospace were worth $7,171,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HWM. Assetmark Inc. grew its holdings in Howmet Aerospace by 40.0% during the 3rd quarter. Assetmark Inc. now owns 441 shares of the company’s stock worth $44,000 after acquiring an additional 126 shares in the last quarter. Atria Investments Inc grew its holdings in Howmet Aerospace by 2.7% during the 3rd quarter. Atria Investments Inc now owns 26,021 shares of the company’s stock worth $2,609,000 after acquiring an additional 673 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Howmet Aerospace by 34.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,262 shares of the company’s stock worth $127,000 after acquiring an additional 324 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in Howmet Aerospace by 25.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 6,447 shares of the company’s stock worth $646,000 after acquiring an additional 1,289 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in Howmet Aerospace during the 3rd quarter worth about $1,545,000. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $127.97 on Thursday. Howmet Aerospace Inc. has a 52 week low of $62.80 and a 52 week high of $140.55. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $51.83 billion, a P/E ratio of 45.38, a PEG ratio of 1.92 and a beta of 1.54. The company has a 50 day moving average price of $125.88 and a 200 day moving average price of $112.87.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. Sell-side analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a dividend of $0.10 per share. The ex-dividend date was Friday, February 7th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. Howmet Aerospace’s dividend payout ratio (DPR) is currently 14.18%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HWM shares. Bank of America increased their target price on shares of Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their price target on shares of Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Morgan Stanley increased their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group increased their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Finally, Truist Financial reissued a “buy” rating and set a $140.00 price target (up from $130.00) on shares of Howmet Aerospace in a research report on Friday, February 14th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $123.28.

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.