Contravisory Investment Management Inc. Cuts Position in Howmet Aerospace Inc. (NYSE:HWM)

Contravisory Investment Management Inc. lowered its position in Howmet Aerospace Inc. (NYSE:HWM) by 18.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,441 shares of the company’s stock after selling 2,818 shares during the period. Contravisory Investment Management Inc.’s holdings in Howmet Aerospace were worth $1,247,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Lone Pine Capital LLC acquired a new stake in shares of Howmet Aerospace during the second quarter valued at $284,539,000. Price T Rowe Associates Inc. MD boosted its stake in Howmet Aerospace by 28.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after buying an additional 3,158,186 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Howmet Aerospace by 18.7% in the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after buying an additional 2,813,911 shares during the last quarter. TD Asset Management Inc boosted its stake in Howmet Aerospace by 986.0% in the 1st quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock worth $184,586,000 after buying an additional 2,449,057 shares during the last quarter. Finally, Capital Research Global Investors acquired a new stake in Howmet Aerospace in the 1st quarter worth about $148,996,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Truist Financial raised their price target on Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft raised their price target on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Benchmark raised their price target on Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Robert W. Baird raised their price target on Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average target price of $96.63.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM opened at $102.10 on Friday. The company has a market cap of $41.68 billion, a P/E ratio of 49.32, a PEG ratio of 1.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. Howmet Aerospace Inc. has a one year low of $42.94 and a one year high of $104.24. The business’s 50-day simple moving average is $96.18 and its 200 day simple moving average is $83.66.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The company’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. On average, sell-side analysts forecast that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.31%. Howmet Aerospace’s dividend payout ratio is presently 15.46%.

Insiders Place Their Bets

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction that occurred 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 in the company, valued at $8,985,077.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is owned by company 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.