Covenant Asset Management LLC Raises Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Covenant Asset Management LLC grew its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 0.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,793 shares of the company’s stock after buying an additional 220 shares during the period. Howmet Aerospace makes up 0.8% of Covenant Asset Management LLC’s portfolio, making the stock its 23rd largest holding. Covenant Asset Management LLC’s holdings in Howmet Aerospace were worth $4,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. RiverPark Advisors LLC bought a new stake in shares of Howmet Aerospace in the 3rd quarter worth about $26,000. Hollencrest Capital Management bought a new stake in shares of Howmet Aerospace in the 3rd quarter worth about $30,000. Cultivar Capital Inc. bought a new stake in Howmet Aerospace during the 2nd quarter valued at about $26,000. LGT Financial Advisors LLC lifted its holdings in Howmet Aerospace by 278.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after buying an additional 262 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in Howmet Aerospace during the 2nd quarter valued at about $32,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $117.27 on Friday. Howmet Aerospace Inc. has a 52-week low of $51.47 and a 52-week high of $119.28. The firm has a market capitalization of $47.64 billion, a price-to-earnings ratio of 44.76, a PEG ratio of 1.56 and a beta of 1.46. The company has a fifty day simple moving average of $104.16 and a 200-day simple moving average of $92.16. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s dividend payout ratio is currently 12.21%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HWM. UBS Group lifted their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird lifted their price objective on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Susquehanna lifted their price objective on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.41.

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.