New York State Common Retirement Fund Cuts Stake in Howmet Aerospace Inc. (NYSE:HWM)

New York State Common Retirement Fund trimmed its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 217,963 shares of the company’s stock after selling 10,948 shares during the quarter. New York State Common Retirement Fund owned about 0.05% of Howmet Aerospace worth $23,839,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Howmet Aerospace during the 4th quarter valued at about $26,000. RiverPark Advisors LLC purchased a new stake in Howmet Aerospace during the 3rd quarter valued at about $26,000. Hollencrest Capital Management purchased a new stake in Howmet Aerospace during the 3rd quarter valued at about $30,000. Global Trust Asset Management LLC purchased a new stake in Howmet Aerospace during the 4th quarter valued at about $33,000. Finally, Hanson & Doremus Investment Management purchased a new stake in Howmet Aerospace during the 4th quarter valued at about $34,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

NYSE HWM opened at $129.83 on Friday. Howmet Aerospace Inc. has a 12 month low of $62.80 and a 12 month high of $140.55. The stock has a market cap of $52.58 billion, a price-to-earnings ratio of 46.04, a PEG ratio of 1.94 and a beta of 1.50. The company’s 50 day moving average is $121.18 and its two-hundred day moving average is $109.59. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Thursday, February 13th. The company reported $0.74 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 for the quarter, compared to analysts’ expectations of $1.88 billion. As a group, research analysts anticipate that Howmet Aerospace Inc. will post 3.26 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.10 per share. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 14.18%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Susquehanna raised their price target 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. Bank of America raised their price target on shares of Howmet Aerospace from $100.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada raised their price target 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. Wells Fargo & Company raised their price target on shares of Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Truist Financial reaffirmed a “buy” rating and set a $140.00 price target (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $123.28.

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.