Westpac Banking Corp Increases Position in Howmet Aerospace Inc. (NYSE:HWM)

Westpac Banking Corp lifted its stake in Howmet Aerospace Inc. (NYSE:HWM) by 458.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,767 shares of the company’s stock after purchasing an additional 36,755 shares during the period. Westpac Banking Corp’s holdings in Howmet Aerospace were worth $4,896,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cinctive Capital Management LP purchased a new stake in shares of Howmet Aerospace during the 4th quarter worth approximately $547,000. Huntington National Bank raised its holdings in Howmet Aerospace by 14.3% during the fourth quarter. Huntington National Bank now owns 1,744 shares of the company’s stock worth $191,000 after purchasing an additional 218 shares during the last quarter. Meeder Advisory Services Inc. boosted its position in Howmet Aerospace by 21.2% during the fourth quarter. Meeder Advisory Services Inc. now owns 5,131 shares of the company’s stock worth $561,000 after purchasing an additional 899 shares in the last quarter. Groupama Asset Managment grew its holdings in Howmet Aerospace by 104.2% in the fourth quarter. Groupama Asset Managment now owns 19,254 shares of the company’s stock valued at $2,123,000 after purchasing an additional 9,823 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Howmet Aerospace by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company’s stock valued at $1,070,267,000 after buying an additional 308,574 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company raised their price objective on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial reaffirmed a “buy” rating and issued a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a research note on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Morgan Stanley increased their price objective on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus price target of $123.28.

Howmet Aerospace Stock Up 1.6 %

Shares of NYSE HWM opened at $133.89 on Thursday. The stock has a market capitalization of $54.23 billion, a PE ratio of 47.48, a P/E/G ratio of 1.92 and a beta of 1.54. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The firm has a fifty day moving average of $129.74 and a 200-day moving average of $116.67. Howmet Aerospace Inc. has a 52-week low of $62.80 and a 52-week high of $140.55.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. On average, analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.30%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, February 7th. Howmet Aerospace’s payout ratio is 14.18%.

About Howmet Aerospace

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.