Grant Street Asset Management Inc. Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

Grant Street Asset Management Inc. purchased a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,043 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also recently modified their holdings of the company. Caprock Group LLC raised its stake in Howmet Aerospace by 1.0% during the 3rd quarter. Caprock Group LLC now owns 11,179 shares of the company’s stock worth $1,121,000 after acquiring an additional 106 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Howmet Aerospace by 6.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,944 shares of the company’s stock valued at $195,000 after purchasing an additional 124 shares during the period. OneDigital Investment Advisors LLC boosted its holdings in Howmet Aerospace by 2.4% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,260 shares of the company’s stock worth $527,000 after buying an additional 124 shares during the period. Assetmark Inc. boosted its holdings in Howmet Aerospace by 40.0% in the 3rd quarter. Assetmark Inc. now owns 441 shares of the company’s stock worth $44,000 after buying an additional 126 shares during the period. Finally, Huntington National Bank increased its stake in Howmet Aerospace by 11.1% in the 3rd quarter. Huntington National Bank now owns 1,526 shares of the company’s stock worth $153,000 after buying an additional 152 shares in the last quarter. Institutional investors own 90.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HWM. Susquehanna lifted their target price on Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a research note on Thursday, November 7th. Bank of America boosted their target price on shares of Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Robert W. Baird raised their target price on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, UBS Group boosted their price target on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.41.

Insider Transactions at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated 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 of the company’s stock, valued at $14,982,938.30. The trade was a 49.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the 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 completion of the transaction, the executive vice president now owns 92,687 shares in the company, valued at approximately $8,985,077.78. This trade represents a 43.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $115.99 on Wednesday. The company has a 50 day moving average price of $103.22 and a 200 day moving average price of $91.80. The firm has a market capitalization of $47.12 billion, a P/E ratio of 44.27, a PEG ratio of 1.50 and a beta of 1.46. 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 Inc. has a 52 week low of $51.22 and a 52 week high of $116.74.

Howmet Aerospace Dividend Announcement

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