Bristol Gate Capital Partners Inc. purchased a new stake in Howmet Aerospace Inc. (NYSE:HWM – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 236,753 shares of the company’s stock, valued at approximately $63,654,000. Howmet Aerospace accounts for 4.4% of Bristol Gate Capital Partners Inc.’s investment portfolio, making the stock its 11th biggest position. Bristol Gate Capital Partners Inc. owned 0.06% of Howmet Aerospace at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of HWM. West Paces Advisors Inc. bought a new stake in Howmet Aerospace in the 2nd quarter valued at approximately $27,000. Bartlett & CO. Wealth Management LLC raised its holdings in shares of Howmet Aerospace by 55.1% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 107 shares of the company’s stock valued at $29,000 after purchasing an additional 38 shares during the last quarter. Acumen Wealth Advisors LLC acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. lifted its position in shares of Howmet Aerospace by 119.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 134 shares of the company’s stock worth $25,000 after purchasing an additional 73 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC lifted its position in shares of Howmet Aerospace by 65.1% in the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 137 shares of the company’s stock worth $28,000 after purchasing an additional 54 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.
Howmet Aerospace Stock Performance
Shares of HWM stock opened at $264.17 on Wednesday. The stock has a market cap of $105.70 billion, a P/E ratio of 56.93, a P/E/G ratio of 1.88 and a beta of 1.20. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.82 and a quick ratio of 0.87. The company has a fifty day moving average price of $278.18 and a two-hundred day moving average price of $259.72. Howmet Aerospace Inc. has a one year low of $170.81 and a one year high of $310.00.
Howmet Aerospace Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Friday, August 7th were paid a $0.14 dividend. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 0.2%. The ex-dividend date was Friday, August 7th. Howmet Aerospace’s dividend payout ratio is currently 12.07%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Howmet Aerospace from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Howmet Aerospace from $310.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Weiss Ratings upgraded Howmet Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $370.00 target price on shares of Howmet Aerospace in a research report on Sunday, August 9th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $335.00 target price on shares of Howmet Aerospace in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $316.22.
Read Our Latest Analysis on Howmet Aerospace
Howmet Aerospace Profile
Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.
Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.
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