OLD National Bancorp IN trimmed its position in shares of Howmet Aerospace Inc. (NYSE:HWM – Free Report) by 20.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,033 shares of the company’s stock after selling 3,336 shares during the quarter. OLD National Bancorp IN’s holdings in Howmet Aerospace were worth $552,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Howmet Aerospace in the 4th quarter valued at $134,379,000. Bank of America Corp DE grew its holdings in Howmet Aerospace by 62.4% in the 4th quarter. Bank of America Corp DE now owns 2,941,040 shares of the company’s stock valued at $115,906,000 after buying an additional 1,129,722 shares in the last quarter. Royal Bank of Canada grew its holdings in Howmet Aerospace by 383.3% in the 1st quarter. Royal Bank of Canada now owns 1,362,379 shares of the company’s stock valued at $48,964,000 after buying an additional 1,080,491 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Howmet Aerospace by 3,224.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 925,613 shares of the company’s stock valued at $28,630,000 after buying an additional 897,770 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Howmet Aerospace by 16.0% in the 4th quarter. Bessemer Group Inc. now owns 6,022,670 shares of the company’s stock valued at $237,353,000 after buying an additional 830,354 shares in the last quarter. 87.98% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
HWM has been the topic of several recent analyst reports. SpectralCast reaffirmed a “maintains” rating on shares of Howmet Aerospace in a research note on Tuesday, June 20th. Bank of America lifted their price objective on Howmet Aerospace from $45.00 to $52.00 in a research note on Tuesday, May 9th. Wells Fargo & Company cut their target price on Howmet Aerospace from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 22nd. Barclays lifted their price target on Howmet Aerospace from $44.00 to $52.00 in a research report on Tuesday, May 9th. Finally, Truist Financial lifted their price target on Howmet Aerospace from $39.00 to $42.00 in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $47.91.
Howmet Aerospace Stock Down 0.9 %
Howmet Aerospace (NYSE:HWM – Free Report) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. Howmet Aerospace had a return on equity of 18.39% and a net margin of 8.18%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the business earned $0.31 earnings per share. The business’s revenue was up 21.1% on a year-over-year basis. On average, sell-side analysts predict that Howmet Aerospace Inc. will post 1.69 EPS for the current fiscal year.
Howmet Aerospace Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 25th. Stockholders of record on Friday, May 5th were given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $0.16 annualized dividend and a dividend yield of 0.33%. Howmet Aerospace’s dividend payout ratio is currently 13.91%.
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.
Further Reading
- Five stocks we like better than Howmet Aerospace
- Tesla Production Cranks Into High Gear, Shares Follow
- Ford Soars 30% YTD After Breaking Out: What’s Next?
- Acuity Brands Lights Up Opportunity In The Industrial Sector
- Overstock Looks Beyond Overbought After Bed Bath Re-Brand
- Tecnoglass Shines Bright As Analysts Bullish On Growth Potential
Receive News & Ratings for Howmet Aerospace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Howmet Aerospace and related companies with MarketBeat.com's FREE daily email newsletter.
