Kentucky Retirement Systems Lowers Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Kentucky Retirement Systems trimmed its stake in Howmet Aerospace Inc. (NYSE:HWM) by 1.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 28,047 shares of the company’s stock after selling 387 shares during the period. Kentucky Retirement Systems’ holdings in Howmet Aerospace were worth $3,068,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Howmet Aerospace by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 17,711,497 shares of the company’s stock worth $1,775,578,000 after purchasing an additional 1,336,592 shares in the last quarter. AustralianSuper Pty Ltd increased its position in shares of Howmet Aerospace by 1,000.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 930,533 shares of the company’s stock worth $101,772,000 after acquiring an additional 845,941 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Howmet Aerospace by 695.6% in the third quarter. Assenagon Asset Management S.A. now owns 558,017 shares of the company’s stock valued at $55,941,000 after acquiring an additional 487,880 shares in the last quarter. Geode Capital Management LLC grew its stake in Howmet Aerospace by 5.0% during the 3rd quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock worth $949,382,000 after purchasing an additional 453,275 shares in the last quarter. Finally, State Street Corp grew its stake in Howmet Aerospace by 2.3% during the 3rd quarter. State Street Corp now owns 17,440,176 shares of the company’s stock worth $1,748,378,000 after purchasing an additional 384,171 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Trading Down 6.2 %

NYSE HWM opened at $129.83 on Friday. The firm’s fifty day moving average is $121.18 and its two-hundred day moving average is $109.59. Howmet Aerospace Inc. has a one year low of $62.80 and a one year high of $140.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. The firm has a market cap of $52.58 billion, a PE ratio of 46.04, a P/E/G ratio of 1.94 and a beta of 1.50.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. Analysts expect that Howmet Aerospace Inc. will post 3.26 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be issued a dividend of $0.10 per share. The ex-dividend date is Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s payout ratio is currently 14.18%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HWM shares. JPMorgan Chase & Co. raised their target price on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Robert W. Baird raised 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. Wells Fargo & Company lifted their price objective on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial reissued a “buy” rating and issued a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Finally, Bank of America lifted their price target on Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.