JPMorgan Chase & Co. Acquires 2,486,649 Shares of Howmet Aerospace Inc. (NYSE:HWM)

JPMorgan Chase & Co. grew its stake in Howmet Aerospace Inc. (NYSE:HWM) by 14.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,198,146 shares of the company’s stock after acquiring an additional 2,486,649 shares during the period. JPMorgan Chase & Co.’s holdings in Howmet Aerospace were worth $2,209,071,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HWM. Murphy & Mullick Capital Management Corp acquired a new position in Howmet Aerospace during the fourth quarter valued at approximately $25,000. R Squared Ltd bought a new stake in shares of Howmet Aerospace during the 4th quarter worth approximately $26,000. Washington Trust Advisors Inc. acquired a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $29,000. Global Trust Asset Management LLC bought a new position in shares of Howmet Aerospace in the fourth quarter valued at $33,000. Finally, Hanson & Doremus Investment Management bought a new position in shares of Howmet Aerospace in the fourth quarter valued at $34,000. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of NYSE HWM opened at $132.64 on Friday. 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 firm has a market cap of $53.72 billion, a price-to-earnings ratio of 47.04, a P/E/G ratio of 1.92 and a beta of 1.54. The stock’s fifty day moving average price is $129.32 and its two-hundred day moving average price is $115.48. Howmet Aerospace Inc. has a one year low of $62.80 and a one year high of $140.55.

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

Howmet Aerospace Increases Dividend

The firm also recently announced 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. The ex-dividend date was Friday, February 7th. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 0.30%. Howmet Aerospace’s dividend payout ratio (DPR) is currently 14.18%.

Analyst Upgrades and Downgrades

HWM has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group upped their target price on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company lifted their price target on Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.