4,685 Howmet Aerospace Inc. $HWM Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 83,384 shares of the company’s stock after selling 4,685 shares during the quarter. Fifth Third Bancorp’s holdings in Howmet Aerospace were worth $18,860,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Howmet Aerospace in the 2nd quarter valued at approximately $12,318,939,000. State Street Corp raised its holdings in Howmet Aerospace by 3.3% during the 2nd quarter. State Street Corp now owns 18,933,928 shares of the company’s stock worth $5,090,576,000 after buying an additional 612,866 shares during the period. Bank of America Corp DE raised its holdings in Howmet Aerospace by 1.7% during the 1st quarter. Bank of America Corp DE now owns 10,728,447 shares of the company’s stock worth $2,472,478,000 after buying an additional 177,533 shares during the period. Jupiter Topco LLC bought a new position in Howmet Aerospace in the second quarter valued at approximately $2,065,086,000. Finally, Bank of New York Mellon Corp bought a new position in Howmet Aerospace in the second quarter valued at approximately $1,099,765,000. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Stock Down 1.1%

HWM stock opened at $220.72 on Friday. The company has a current ratio of 1.86, a quick ratio of 0.90 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $87.77 billion, a PE ratio of 44.09, a PEG ratio of 1.63 and a beta of 1.31. Howmet Aerospace Inc. has a 1-year low of $183.52 and a 1-year high of $310.00. The business’s 50 day simple moving average is $219.89 and its 200 day simple moving average is $248.29.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, October 29th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.37 by $0.09. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.59 billion. Howmet Aerospace had a return on equity of 36.44% and a net margin of 21.10%. The firm’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, research analysts anticipate that Howmet Aerospace Inc. will post 5.49 EPS for the current year.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Friday, November 6th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, November 6th. Howmet Aerospace’s dividend payout ratio is presently 10.96%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HWM. KeyCorp raised shares of Howmet Aerospace from a “sector weight” rating to an “overweight” rating and set a $237.00 price objective for the company in a research report on Tuesday, November 3rd. UBS Group reduced their target price on shares of Howmet Aerospace from $255.00 to $230.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. Susquehanna lowered their target price on Howmet Aerospace from $340.00 to $275.00 and set a “positive” rating for the company in a report on Friday, October 30th. JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Finally, Citigroup restated a “buy” rating on shares of Howmet Aerospace in a report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $295.81.

Howmet Aerospace Company Profile

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks. The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.