Howmet Aerospace Inc. $HWM Position Increased by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. boosted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 298.3% during the third quarter, HoldingsChannel.com reports. The firm owned 6,708 shares of the company’s stock after acquiring an additional 5,024 shares during the period. Summit Wealth Group LLC Co.’s holdings in Howmet Aerospace were worth $1,517,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HWM. BlackRock Inc. purchased a new stake in Howmet Aerospace in the 2nd quarter worth approximately $12,318,939,000. Bank of America Corp DE acquired a new stake in shares of Howmet Aerospace during the 2nd quarter valued at $2,766,806,000. Jupiter Topco LLC acquired a new stake in shares of Howmet Aerospace during the 2nd quarter valued at $2,065,086,000. Bank of New York Mellon Corp purchased a new position in shares of Howmet Aerospace during the 2nd quarter valued at $1,099,765,000. Finally, Legal & General Group Plc purchased a new position in shares of Howmet Aerospace during the 2nd quarter valued at $580,991,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Key Headlines Impacting Howmet Aerospace

Here are the key news stories impacting Howmet Aerospace this week:

• Positive Sentiment: Strong Q3 execution and demand: Howmet reported adjusted earnings of $1.46 per share, above the $1.37 consensus, and revenue of $2.70 billion versus estimates of $2.59 billion. Revenue rose 29.4% year over year. Growth in commercial and defense aerospace, higher aircraft production, and demand for engine spares support continued momentum. Howmet Aerospace’s Q3 Aerospace Demand Surges
• Positive Sentiment: KeyBanc upgrade: KeyBanc raised its rating from sector weight to overweight after the Q3 report, with a $237 price target. The upgrade signals greater confidence in Howmet’s outlook. KeyBanc upgrade
• Neutral Sentiment: Options volatility is rising: Higher implied volatility points to expectations for larger share-price swings, but does not indicate their direction. Options volatility article
• Negative Sentiment: Valuation and target cuts pose risks: A Seeking Alpha analysis argues that the valuation leaves little room for execution missteps. BTIG cut its target from $340 to $280 while retaining a buy rating, and UBS lowered its target from $255 to $230 with a neutral rating. These reductions may limit enthusiasm despite the positive operating results. Valuation analysis BTIG target cut

Howmet Aerospace Price Performance

Shares of HWM opened at $222.65 on Wednesday. The firm has a market cap of $88.54 billion, a PE ratio of 42.09, a PEG ratio of 1.56 and a beta of 1.31. The firm’s 50 day moving average price is $227.02 and its 200 day moving average price is $248.47. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.90 and a current ratio of 1.86. Howmet Aerospace Inc. has a twelve month low of $183.52 and a twelve month high of $310.00.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.37 by $0.09. The company had revenue of $2.70 billion for 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%. Howmet Aerospace’s quarterly revenue was up 29.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 EPS. As a group, research analysts expect that Howmet Aerospace Inc. will post 5.48 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 6th will be issued a $0.14 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.56 dividend on an annualized basis and a yield of 0.3%. Howmet Aerospace’s dividend payout ratio is currently 10.96%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of Howmet Aerospace from $255.00 to $230.00 and set a “neutral” rating on the stock in a research note on Friday, October 30th. Zacks Research lowered Howmet Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. Susquehanna reduced their price objective on Howmet Aerospace from $340.00 to $275.00 and set a “positive” rating for the company in a research report on Friday, October 30th. Morgan Stanley restated an “overweight” rating and issued a $335.00 target price on shares of Howmet Aerospace in a research note on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Howmet Aerospace from $338.00 to $343.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $295.81.

Howmet Aerospace Company Profile

Howmet Aerospace Inc (NYSE:HWM) is a global manufacturer of advanced engineered products and materials primarily serving the aerospace, defense, commercial transportation and industrial markets. The company develops components designed to operate in demanding environments where strength, durability and weight reduction are important.

Howmet’s product portfolio includes aircraft engine components, airframe structures, titanium and nickel-based forgings, fastening systems and wheels for commercial vehicles.