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

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

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Howmet Aerospace in the second quarter worth about $12,318,939,000. State Street Corp grew its stake in Howmet Aerospace by 3.3% during the 2nd quarter. State Street Corp now owns 18,933,928 shares of the company’s stock worth $5,090,576,000 after buying an additional 612,866 shares during the last quarter. Bank of America Corp DE acquired a new position in Howmet Aerospace during the 2nd quarter valued at about $2,766,806,000. Jupiter Topco LLC acquired a new position in Howmet Aerospace during the 2nd quarter valued at about $2,065,086,000. Finally, Bank of New York Mellon Corp acquired a new position in Howmet Aerospace during the 2nd quarter valued at about $1,099,765,000. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

NYSE HWM opened at $219.01 on Wednesday. The company has a market cap of $87.09 billion, a price-to-earnings ratio of 42.86, a PEG ratio of 1.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.86 and a quick ratio of 0.90. The stock’s fifty day moving average price is $221.90 and its 200 day moving average price is $248.18. Howmet Aerospace Inc. has a 1 year low of $183.52 and a 1 year high of $310.00.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, October 29th. The company reported $1.46 EPS 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 analysts’ expectations of $2.59 billion. Howmet Aerospace had a return on equity of 36.44% and a net margin of 21.10%. The firm’s revenue was up 29.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.95 EPS. As a group, equities research analysts forecast that Howmet Aerospace Inc. will post 5.49 earnings per share for the current year.

Howmet Aerospace Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have weighed in on HWM shares. Sanford C. Bernstein reissued an “outperform” rating and issued a $298.00 price target (down from $328.00) on shares of Howmet Aerospace in a report on Wednesday, October 7th. UBS Group cut their price objective on shares of Howmet Aerospace from $255.00 to $230.00 and set a “neutral” rating on the stock in a report on Friday, October 30th. Zacks Research lowered shares of Howmet Aerospace from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 9th. Guggenheim began coverage on shares of Howmet Aerospace in a research note on Monday, September 14th. They issued a “buy” rating and a $350.00 target price for the company. Finally, Morgan Stanley reissued an “overweight” rating and set a $335.00 target price on shares of Howmet Aerospace in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $295.81.

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.