Principal Financial Group Inc. Cuts Stake in Howmet Aerospace Inc. $HWM

Principal Financial Group Inc. lessened its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 475,957 shares of the company’s stock after selling 13,891 shares during the period. Principal Financial Group Inc.’s holdings in Howmet Aerospace were worth $93,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Traub Capital Management LLC purchased a new position in shares of Howmet Aerospace in the second quarter worth about $25,000. Winnow Wealth LLC acquired a new position in shares of Howmet Aerospace during the 2nd quarter worth approximately $25,000. Newbridge Financial Services Group Inc. grew its position in shares of Howmet Aerospace by 119.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 134 shares of the company’s stock valued at $25,000 after purchasing an additional 73 shares in the last quarter. Tradewinds Capital Management LLC increased its holdings in shares of Howmet Aerospace by 52.0% in the third quarter. Tradewinds Capital Management LLC now owns 152 shares of the company’s stock valued at $30,000 after purchasing an additional 52 shares during the last quarter. Finally, Manning & Napier Advisors LLC acquired a new position in Howmet Aerospace during the third quarter worth $32,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Stock Performance

NYSE HWM opened at $207.35 on Tuesday. The company has a market cap of $83.37 billion, a P/E ratio of 58.24, a P/E/G ratio of 1.97 and a beta of 1.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.35 and a quick ratio of 1.14. The stock has a 50-day moving average of $207.76 and a two-hundred day moving average of $195.66. Howmet Aerospace Inc. has a 1-year low of $105.04 and a 1-year high of $226.87.

Howmet Aerospace Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wall Street Zen raised Howmet Aerospace from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Susquehanna reiterated a “positive” rating and issued a $255.00 target price on shares of Howmet Aerospace in a report on Thursday, January 15th. Citigroup increased their price target on shares of Howmet Aerospace from $246.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 13th. TD Cowen reaffirmed a “buy” rating on shares of Howmet Aerospace in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on Howmet Aerospace from $190.00 to $227.00 and gave the company an “overweight” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $224.53.

Howmet Aerospace Company 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.