State of Alaska Department of Revenue Cuts Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

State of Alaska Department of Revenue lessened its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,317 shares of the company’s stock after selling 5,000 shares during the quarter. State of Alaska Department of Revenue’s holdings in Howmet Aerospace were worth $5,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Howmet Aerospace by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 17,711,497 shares of the company’s stock valued at $1,775,578,000 after buying an additional 1,336,592 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Howmet Aerospace by 695.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 558,017 shares of the company’s stock valued at $55,941,000 after acquiring an additional 487,880 shares during the period. Geode Capital Management LLC increased its stake in shares of Howmet Aerospace by 5.0% during the 3rd quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock worth $949,382,000 after purchasing an additional 453,275 shares during the last quarter. State Street Corp lifted its stake in Howmet Aerospace by 2.3% in the third quarter. State Street Corp now owns 17,440,176 shares of the company’s stock valued at $1,748,378,000 after purchasing an additional 384,171 shares during the last quarter. Finally, Retirement Systems of Alabama grew its holdings in Howmet Aerospace by 332.6% during the third quarter. Retirement Systems of Alabama now owns 370,027 shares of the company’s stock valued at $37,095,000 after purchasing an additional 284,487 shares during the period. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Stock Down 1.0 %

HWM stock opened at $127.67 on Friday. The company’s 50 day moving average is $117.83 and its 200 day moving average is $106.11. The stock has a market cap of $51.87 billion, a price-to-earnings ratio of 48.73, a price-to-earnings-growth ratio of 1.43 and a beta of 1.50. The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. Howmet Aerospace Inc. has a 1-year low of $58.34 and a 1-year high of $129.69.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Friday, February 7th. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio is currently 15.27%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HWM. UBS Group boosted their target price on Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Bank of America upped their price objective on shares of Howmet Aerospace from $100.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. KeyCorp downgraded shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Wells Fargo & Company upped their price target on shares of Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada raised their price objective on shares of Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Howmet Aerospace has an average rating of “Moderate Buy” and a consensus target price of $115.71.

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.