Howmet Aerospace Inc. (NYSE:HWM) Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. increased its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 46.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,576 shares of the company’s stock after buying an additional 1,773 shares during the period. Pinnacle Associates Ltd.’s holdings in Howmet Aerospace were worth $559,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Howmet Aerospace by 2.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,746 shares of the company’s stock valued at $872,000 after purchasing an additional 246 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Howmet Aerospace by 16.3% during the 1st quarter. First Trust Direct Indexing L.P. now owns 7,421 shares of the company’s stock worth $508,000 after buying an additional 1,040 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Howmet Aerospace by 11.3% during the 1st quarter. Private Advisor Group LLC now owns 16,688 shares of the company’s stock worth $1,142,000 after acquiring an additional 1,690 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Howmet Aerospace by 8.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 23,347 shares of the company’s stock valued at $1,598,000 after acquiring an additional 1,882 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in Howmet Aerospace by 5.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,256 shares of the company’s stock worth $839,000 after purchasing an additional 670 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Wall Street Analysts Forecast Growth

HWM has been the topic of a number of research analyst reports. Benchmark raised their price objective on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Susquehanna initiated coverage on shares of Howmet Aerospace in a research report on Tuesday, October 8th. They issued a “positive” rating and a $120.00 price target for the company. JPMorgan Chase & Co. raised their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft boosted their target price on Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, BTIG Research raised their price target on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned 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 $101.50.

Howmet Aerospace Stock Up 0.3 %

Shares of NYSE:HWM opened at $100.03 on Friday. Howmet Aerospace Inc. has a fifty-two week low of $47.72 and a fifty-two week high of $106.93. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The firm’s 50-day simple moving average is $99.22 and its 200-day simple moving average is $87.88. The company has a market cap of $40.83 billion, a price-to-earnings ratio of 44.26, a PEG ratio of 1.47 and a beta of 1.46.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is 14.16%.

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.