Morse Asset Management Inc Boosts Position in Howmet Aerospace Inc. (NYSE:HWM)

Morse Asset Management Inc boosted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 15.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 17,968 shares of the company’s stock after purchasing an additional 2,348 shares during the period. Morse Asset Management Inc’s holdings in Howmet Aerospace were worth $1,230,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HWM. Vanguard Group Inc. raised its stake in shares of Howmet Aerospace by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after acquiring an additional 1,274,974 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Howmet Aerospace by 18.7% during the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after purchasing an additional 2,813,911 shares during the period. Price T Rowe Associates Inc. MD raised its position in Howmet Aerospace by 28.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after purchasing an additional 3,158,186 shares in the last quarter. Norges Bank purchased a new stake in shares of Howmet Aerospace in the 4th quarter worth $508,006,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Howmet Aerospace by 15.1% in the 1st quarter. Bank of New York Mellon Corp now owns 6,184,692 shares of the company’s stock worth $423,218,000 after buying an additional 810,681 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Argus increased their price objective on shares of Howmet Aerospace from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Northcoast Research restated a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a report on Friday, June 14th. Robert W. Baird boosted their price objective on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Royal Bank of Canada lifted their price target on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Truist Financial raised their price target on Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.76.

Howmet Aerospace Price Performance

HWM stock traded up $0.34 during midday trading on Friday, reaching $82.68. The stock had a trading volume of 2,903,005 shares, compared to its average volume of 2,860,540. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $85.52. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86. The company’s fifty day simple moving average is $81.22 and its 200 day simple moving average is $70.99. The company has a market cap of $33.75 billion, a price-to-earnings ratio of 39.94, a price-to-earnings-growth ratio of 1.50 and a beta of 1.45.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period last year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts predict that Howmet Aerospace Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 32,614 shares of Howmet Aerospace stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $84.26, for a total value of $2,748,055.64. Following the completion of the transaction, the executive vice president now owns 217,687 shares in the company, valued at approximately $18,342,306.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.12% of the company’s stock.

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.