New York State Common Retirement Fund Has $14.68 Million Stake in Howmet Aerospace Inc. (NYSE:HWM)

Posted by Defense World Staff on Apr 19th, 2023

New York State Common Retirement Fund boosted its stake in Howmet Aerospace Inc. (NYSE:HWM – Get Rating) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 372,522 shares of the company’s stock after purchasing an additional 4,856 shares during the period. New York State Common Retirement Fund owned about 0.09% of Howmet Aerospace worth $14,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HWM. US Bancorp DE grew its holdings in Howmet Aerospace by 9.7% during the 1st quarter. US Bancorp DE now owns 20,717 shares of the company’s stock worth $745,000 after acquiring an additional 1,834 shares during the period. HighTower Advisors LLC boosted its position in shares of Howmet Aerospace by 299.5% during the 1st quarter. HighTower Advisors LLC now owns 31,892 shares of the company’s stock worth $1,147,000 after purchasing an additional 23,910 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Howmet Aerospace by 2.2% during the 1st quarter. Panagora Asset Management Inc. now owns 31,230 shares of the company’s stock worth $1,122,000 after purchasing an additional 663 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Howmet Aerospace by 5.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,781 shares of the company’s stock worth $1,825,000 after purchasing an additional 2,520 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Howmet Aerospace by 4.0% during the 1st quarter. APG Asset Management N.V. now owns 20,900 shares of the company’s stock worth $675,000 after purchasing an additional 800 shares in the last quarter. 91.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HWM. Benchmark raised shares of Howmet Aerospace from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Friday, March 31st. Jefferies Financial Group began coverage on shares of Howmet Aerospace in a research report on Wednesday, March 22nd. They set a “buy” rating and a $50.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Howmet Aerospace from $47.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Argus lifted their price target on Howmet Aerospace from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, February 21st. Finally, KeyCorp increased their price objective on Howmet Aerospace from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, February 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.00.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 57,000 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $43.61, for a total transaction of $2,485,770.00. Following the completion of the transaction, the executive vice president now owns 286,751 shares of the company’s stock, valued at $12,505,211.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Barbara Lou Shultz sold 4,627 shares of Howmet Aerospace stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $42.16, for a total value of $195,074.32. Following the completion of the transaction, the vice president now owns 20,542 shares of the company’s stock, valued at approximately $866,050.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 57,000 shares of Howmet Aerospace stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $43.61, for a total value of $2,485,770.00. Following the completion of the sale, the executive vice president now owns 286,751 shares of the company’s stock, valued at $12,505,211.11. The disclosure for this sale can be found here. 1.23% of the stock is currently owned by company insiders.

Howmet Aerospace Price Performance

HWM opened at $43.36 on Wednesday. The firm has a market cap of $17.86 billion, a P/E ratio of 39.06, a PEG ratio of 1.10 and a beta of 1.44. Howmet Aerospace Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $44.37. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.04 and a current ratio of 2.12. The firm has a 50-day moving average of $41.83 and a 200 day moving average of $38.98.

Howmet Aerospace (NYSE:HWM – Get Rating) last announced its earnings results on Tuesday, February 14th. The company reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. Howmet Aerospace had a net margin of 8.28% and a return on equity of 17.53%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period last year, the firm posted $0.30 earnings per share. Howmet Aerospace’s quarterly revenue was up 17.7% on a year-over-year basis. On average, research analysts expect that Howmet Aerospace Inc. will post 1.62 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Friday, February 10th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.37%. The ex-dividend date was Thursday, February 9th. Howmet Aerospace’s dividend payout ratio (DPR) is currently 14.41%.

About Howmet Aerospace

(Get Rating)

Howmet Aerospace, Inc engages in provision of engineered solutions for the aerospace and transportation industries. It operates through the following segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment produces investment castings, including airfoils, and seamless rolled rings primarily for aircraft engines (aerospace commercial and defense) and industrial gas turbines.