Allspring Global Investments Holdings LLC Sells 18,595 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Allspring Global Investments Holdings LLC trimmed its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 13.6% during the 4th quarter, HoldingsChannel reports. The fund owned 117,699 shares of the company’s stock after selling 18,595 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Howmet Aerospace were worth $13,040,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HWM. Schwartz Investment Counsel Inc. acquired a new position in shares of Howmet Aerospace in the 4th quarter worth approximately $1,258,000. Portfolio Design Labs LLC acquired a new position in shares of Howmet Aerospace in the 4th quarter worth approximately $269,000. Soltis Investment Advisors LLC acquired a new position in shares of Howmet Aerospace in the 4th quarter worth approximately $2,428,000. Savant Capital LLC boosted its holdings in shares of Howmet Aerospace by 0.8% in the 4th quarter. Savant Capital LLC now owns 27,583 shares of the company’s stock worth $3,017,000 after acquiring an additional 219 shares in the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of Howmet Aerospace by 10.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 9,812 shares of the company’s stock worth $1,073,000 after acquiring an additional 963 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on HWM. JPMorgan Chase & Co. upped their price objective on Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group upped their target price on shares of Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Sanford C. Bernstein upped their target price on shares of Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Robert W. Baird upped their target price 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. Finally, Susquehanna upped their target price on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.76.

Howmet Aerospace Stock Up 4.4 %

Howmet Aerospace stock opened at $133.66 on Tuesday. Howmet Aerospace Inc. has a twelve month low of $62.70 and a twelve month high of $133.92. The firm has a 50 day moving average price of $119.45 and a 200-day moving average price of $108.55. The company has a market capitalization of $54.30 billion, a P/E ratio of 51.02, a P/E/G ratio of 1.45 and a beta of 1.50. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a net margin of 14.81% and a return on equity of 24.50%. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. As a group, equities analysts predict that Howmet Aerospace Inc. will post 2.66 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.30%. 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 (DPR) is presently 12.21%.

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.