Howmet Aerospace Inc. $HWM Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 11.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,538 shares of the company’s stock after selling 25,647 shares during the period. Pictet Asset Management Holding SA’s holdings in Howmet Aerospace were worth $44,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. West Paces Advisors Inc. bought a new position in Howmet Aerospace during the 2nd quarter valued at about $27,000. Bartlett & CO. Wealth Management LLC grew its stake in shares of Howmet Aerospace by 55.1% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 107 shares of the company’s stock valued at $29,000 after buying an additional 38 shares during the last quarter. Markowski Investments purchased a new stake in shares of Howmet Aerospace in the second quarter worth approximately $29,000. Reyes Financial Architecture Inc. purchased a new stake in shares of Howmet Aerospace in the third quarter worth approximately $31,000. Finally, Retirement Wealth Solutions LLC lifted its stake in shares of Howmet Aerospace by 328.1% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 137 shares of the company’s stock worth $31,000 after acquiring an additional 105 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HWM. BNP Paribas Exane dropped their price objective on Howmet Aerospace from $310.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, October 30th. Zacks Research cut shares of Howmet Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. BTIG Research dropped their target price on shares of Howmet Aerospace from $340.00 to $280.00 and set a “buy” rating on the stock in a research note on Monday, November 2nd. TD Cowen reduced their target price on shares of Howmet Aerospace from $320.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Finally, UBS Group decreased their price target on shares of Howmet Aerospace from $255.00 to $230.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average price target of $295.81.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $219.01 on Wednesday. The firm has a market cap of $87.09 billion, a P/E ratio of 42.86, a P/E/G ratio of 1.58 and a beta of 1.31. The company has a current ratio of 1.86, a quick ratio of 0.90 and a debt-to-equity ratio of 0.70. Howmet Aerospace Inc. has a 12 month low of $183.52 and a 12 month high of $310.00. The stock’s fifty day moving average price is $221.90 and its 200-day moving average price is $248.18.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. The company had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.59 billion. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The firm’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 earnings per share. On average, equities research analysts expect that Howmet Aerospace Inc. will post 5.49 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, November 6th. Howmet Aerospace’s dividend payout ratio is presently 10.96%.

About Howmet Aerospace

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks. The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.