Kentucky Retirement Systems Insurance Trust Fund Reduces Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 7.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 12,908 shares of the company’s stock after selling 1,027 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Howmet Aerospace were worth $883,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Howmet Aerospace by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after buying an additional 1,274,974 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Howmet Aerospace by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock valued at $1,223,358,000 after buying an additional 2,813,911 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Howmet Aerospace by 28.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after buying an additional 3,158,186 shares during the last quarter. Norges Bank purchased a new stake in Howmet Aerospace in the fourth quarter valued at approximately $508,006,000. Finally, Bank of New York Mellon Corp boosted its position in Howmet Aerospace by 15.1% in the first quarter. Bank of New York Mellon Corp now owns 6,184,692 shares of the company’s stock valued at $423,218,000 after buying an additional 810,681 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $84.26, for a total value of $2,748,055.64. Following the completion of the sale, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at approximately $18,342,306.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Benchmark upped their target price on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. KeyCorp boosted their price target on Howmet Aerospace from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Argus upped their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. BTIG Research started coverage on Howmet Aerospace in a research report on Wednesday, June 26th. They issued a “buy” rating and a $95.00 price objective on the stock. Finally, Truist Financial upped their price objective on Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.76.

Howmet Aerospace Price Performance

HWM stock traded up $0.22 during midday trading on Monday, reaching $82.90. The stock had a trading volume of 1,255,447 shares, compared to its average volume of 3,187,039. The company’s fifty day simple moving average is $81.22 and its 200 day simple moving average is $70.99. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86. The company has a market cap of $33.84 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $85.52.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts predict that Howmet Aerospace Inc. will post 2.39 earnings per share for the current fiscal year.

Howmet Aerospace Company 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.