Jackson Square Partners LLC Decreases Stake in Howmet Aerospace Inc. $HWM

Jackson Square Partners LLC cut its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 22.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,349 shares of the company’s stock after selling 3,486 shares during the period. Jackson Square Partners LLC’s holdings in Howmet Aerospace were worth $2,423,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Howmet Aerospace by 8.1% in the third quarter. Smartleaf Asset Management LLC now owns 10,659 shares of the company’s stock worth $2,046,000 after acquiring an additional 797 shares during the last quarter. a16z Perennial Management L.P. acquired a new stake in shares of Howmet Aerospace in the 3rd quarter valued at $264,000. Canada Post Corp Registered Pension Plan lifted its position in shares of Howmet Aerospace by 62.3% during the 3rd quarter. Canada Post Corp Registered Pension Plan now owns 10,862 shares of the company’s stock worth $2,085,000 after purchasing an additional 4,170 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in shares of Howmet Aerospace by 7.8% during the third quarter. Prime Capital Investment Advisors LLC now owns 68,019 shares of the company’s stock worth $13,347,000 after purchasing an additional 4,907 shares in the last quarter. Finally, MONECO Advisors LLC increased its holdings in Howmet Aerospace by 7.8% in the third quarter. MONECO Advisors LLC now owns 2,659 shares of the company’s stock valued at $522,000 after buying an additional 192 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup lifted their price target on Howmet Aerospace from $246.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 13th. Bank of America boosted their target price on Howmet Aerospace from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. UBS Group upped their price target on Howmet Aerospace from $199.00 to $209.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Truist Financial set a $258.00 price objective on shares of Howmet Aerospace in a report on Friday, January 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Howmet Aerospace in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.53.

Howmet Aerospace Trading Up 6.6%

HWM opened at $223.44 on Friday. The business’s 50 day moving average is $208.52 and its two-hundred day moving average is $196.34. The firm has a market cap of $89.84 billion, a price-to-earnings ratio of 62.76, a price-to-earnings-growth ratio of 2.11 and a beta of 1.26. Howmet Aerospace Inc. has a 52 week low of $105.04 and a 52 week high of $226.87. The company has a quick ratio of 1.14, a current ratio of 2.35 and a debt-to-equity ratio of 0.63.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Friday, February 6th will be paid a $0.12 dividend. The ex-dividend date is Friday, February 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.2%. Howmet Aerospace’s payout ratio is currently 13.48%.

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.