Howmet Aerospace Inc. (NYSE:HWM) Stock Position Lowered by Jackson Square Partners LLC

Jackson Square Partners LLC cut its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 30.1% in the 4th quarter, HoldingsChannel reports. The fund owned 245,093 shares of the company’s stock after selling 105,774 shares during the quarter. Howmet Aerospace accounts for 2.9% of Jackson Square Partners LLC’s portfolio, making the stock its 8th biggest position. Jackson Square Partners LLC’s holdings in Howmet Aerospace were worth $26,806,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of HWM. R Squared Ltd bought a new position in Howmet Aerospace in the fourth quarter worth about $26,000. Washington Trust Advisors Inc. bought a new stake in Howmet Aerospace during the fourth quarter valued at about $29,000. Global Trust Asset Management LLC bought a new position in shares of Howmet Aerospace in the fourth quarter worth about $33,000. Hanson & Doremus Investment Management bought a new position in shares of Howmet Aerospace during the 4th quarter valued at approximately $34,000. Finally, ORG Partners LLC bought a new stake in Howmet Aerospace during the 4th quarter worth approximately $44,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HWM. Morgan Stanley raised their target price on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. The Goldman Sachs Group boosted their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company increased their price objective 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. Finally, Truist Financial reissued a “buy” rating and set a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.28.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $136.23 on Tuesday. 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 stock has a market cap of $55.18 billion, a price-to-earnings ratio of 48.31, a PEG ratio of 1.92 and a beta of 1.54. The stock’s 50 day moving average price is $128.52 and its 200 day moving average price is $114.90. Howmet Aerospace Inc. has a 12 month low of $62.80 and a 12 month high of $140.55.

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

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.29%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s payout ratio is currently 14.18%.

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.