Sumitomo Mitsui Trust Group Inc. Raises Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 6.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 958,493 shares of the company’s stock after purchasing an additional 55,118 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Howmet Aerospace worth $96,089,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cultivar Capital Inc. purchased a new stake in Howmet Aerospace during the second quarter worth about $26,000. LGT Financial Advisors LLC increased its stake in shares of Howmet Aerospace by 278.7% during the second 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 period. Hollencrest Capital Management purchased a new stake in shares of Howmet Aerospace during the third quarter worth approximately $30,000. Rothschild Investment LLC purchased a new stake in shares of Howmet Aerospace during the second quarter worth approximately $32,000. Finally, Versant Capital Management Inc increased its stake in shares of Howmet Aerospace by 1,209.1% during the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after buying an additional 399 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of the 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 completion of the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ken Giacobbe sold 154,909 shares of the company’s 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Price Performance

HWM stock opened at $115.75 on Thursday. The company has a market capitalization of $47.02 billion, a P/E ratio of 44.18, a PEG ratio of 1.54 and a beta of 1.46. Howmet Aerospace Inc. has a twelve month low of $50.57 and a twelve month high of $116.59. The business has a 50 day simple moving average of $101.15 and a 200-day simple moving average of $90.30. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is currently 12.21%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of Howmet Aerospace from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Robert W. Baird upped their target price on shares of Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, BTIG Research upped their price target on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $115.41.

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.