Massachusetts Financial Services Co. MA Cuts Position in Howmet Aerospace Inc. (NYSE:HWM)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 5.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,789,628 shares of the company’s stock after selling 1,055,988 shares during the quarter. Massachusetts Financial Services Co. MA owned 4.60% of Howmet Aerospace worth $1,883,660,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in Howmet Aerospace by 28.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after acquiring an additional 3,158,186 shares during the last quarter. Lone Pine Capital LLC bought a new position in Howmet Aerospace during the second quarter valued at $284,539,000. TD Asset Management Inc increased its position in Howmet Aerospace by 16.9% in the second quarter. TD Asset Management Inc now owns 3,152,629 shares of the company’s stock worth $244,739,000 after buying an additional 455,180 shares during the last quarter. Capital Research Global Investors bought a new stake in shares of Howmet Aerospace in the first quarter valued at $148,996,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Howmet Aerospace by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,102,155 shares of the company’s stock valued at $163,218,000 after buying an additional 56,614 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $118.10 on Thursday. The company has a market capitalization of $47.98 billion, a price-to-earnings ratio of 45.08, a PEG ratio of 1.56 and a beta of 1.46. The business has a 50 day moving average of $103.70 and a 200 day moving average of $91.99. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.24 and a quick ratio of 0.98. Howmet Aerospace Inc. has a 1-year low of $51.29 and a 1-year high of $118.20.

Howmet Aerospace Dividend Announcement

The firm 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. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. Howmet Aerospace’s payout ratio is 12.21%.

Analyst Ratings Changes

HWM has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. BTIG Research upped their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, August 5th. KeyCorp cut shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. UBS Group raised their price target on Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Truist Financial boosted their price objective on Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and an average target price of $115.41.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The trade was a 43.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.12% of the stock is owned by corporate insiders.

Howmet Aerospace Company 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.