Massachusetts Financial Services Co. MA Sells 1,055,988 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Massachusetts Financial Services Co. MA lessened its position in Howmet Aerospace Inc. (NYSE:HWM) by 5.3% during the third quarter, Holdings Channel.com reports. The fund owned 18,789,628 shares of the company’s stock after selling 1,055,988 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Howmet Aerospace were worth $1,883,660,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Cultivar Capital Inc. purchased a new stake in shares of Howmet Aerospace during the second quarter worth about $26,000. RiverPark Advisors LLC purchased a new stake in Howmet Aerospace in the 3rd quarter worth approximately $26,000. LGT Financial Advisors LLC grew its position in shares of Howmet Aerospace by 278.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after buying an additional 262 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Howmet Aerospace during the third quarter valued at approximately $30,000. Finally, Rothschild Investment LLC bought a new position in shares of Howmet Aerospace during the second quarter valued at approximately $32,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of HWM stock opened at $118.10 on Thursday. The company has a market capitalization of $47.98 billion, a price-to-earnings ratio of 45.08, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24. Howmet Aerospace Inc. has a one year low of $51.29 and a one year high of $118.20. The company’s 50-day moving average is $103.70 and its 200 day moving average is $91.99.

Howmet Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s payout ratio is 12.21%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Robert W. Baird boosted their price target on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. BTIG Research lifted their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays increased their target price on Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, KeyCorp lowered Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average target price of $115.41.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the 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 sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This trade represents a 43.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.12% of the stock is owned by insiders.

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.