Norges Bank Buys Shares of 9,157,521 Howmet Aerospace Inc. (NYSE:HWM)

Norges Bank purchased a new position in Howmet Aerospace Inc. (NYSE:HWM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,157,521 shares of the company’s stock, valued at approximately $1,001,558,000. Norges Bank owned about 2.25% of Howmet Aerospace as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HWM. Murphy & Mullick Capital Management Corp bought a new stake in shares of Howmet Aerospace in the 4th quarter valued at about $25,000. R Squared Ltd bought a new stake in Howmet Aerospace in the fourth quarter valued at approximately $26,000. Washington Trust Advisors Inc. acquired a new stake in Howmet Aerospace in the fourth quarter worth $29,000. Global Trust Asset Management LLC bought a new position in shares of Howmet Aerospace during the fourth quarter worth $33,000. Finally, Hanson & Doremus Investment Management acquired a new position in shares of Howmet Aerospace in the 4th quarter valued at $34,000. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

Shares of HWM opened at $132.64 on Friday. The company has a market cap of $53.72 billion, a price-to-earnings ratio of 47.04, a PEG ratio of 1.92 and a beta of 1.54. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $129.32 and its 200 day simple moving average is $115.48. Howmet Aerospace Inc. has a 1-year low of $62.80 and a 1-year high of $140.55.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.03. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. On average, research analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Friday, February 7th. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s dividend payout ratio is 14.18%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HWM shares. Barclays raised their price objective on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Truist Financial reiterated a “buy” rating and set a $140.00 price objective (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Morgan Stanley increased their target price on Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Wells Fargo & Company lifted their price target on shares of Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group increased their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $123.28.

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.