Pacer Advisors Inc. Decreases Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Pacer Advisors Inc. trimmed its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 3.7% in the second quarter, Holdings Channel.com reports. The fund owned 39,696 shares of the company’s stock after selling 1,542 shares during the period. Pacer Advisors Inc.’s holdings in Howmet Aerospace were worth $3,082,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of HWM. Vanguard Group Inc. boosted its position in Howmet Aerospace by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after purchasing an additional 1,274,974 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Howmet Aerospace by 18.7% in the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock valued at $1,223,358,000 after acquiring an additional 2,813,911 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Howmet Aerospace by 28.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after acquiring an additional 3,158,186 shares in the last quarter. Bank of New York Mellon Corp raised its position in Howmet Aerospace by 15.1% during the first quarter. Bank of New York Mellon Corp now owns 6,184,692 shares of the company’s stock worth $423,218,000 after acquiring an additional 810,681 shares during the last quarter. Finally, Capital World Investors lifted its holdings in shares of Howmet Aerospace by 41.3% in the fourth quarter. Capital World Investors now owns 3,507,255 shares of the company’s stock valued at $189,813,000 after purchasing an additional 1,025,102 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays boosted their price target on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. KeyCorp increased their price objective on Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Truist Financial lifted their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Benchmark upped their target price on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $99.32 on Wednesday. The company has a market cap of $40.54 billion, a P/E ratio of 47.98, a P/E/G ratio of 1.41 and a beta of 1.46. The firm’s 50 day moving average is $91.71 and its two-hundred day moving average is $80.74. Howmet Aerospace Inc. has a fifty-two week low of $42.94 and a fifty-two week high of $99.60. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the company posted $0.44 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts expect that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is presently 15.46%.

Insider Transactions at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the sale, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the transaction, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

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.