Integrated Quantitative Investments Increases Stake in Howmet Aerospace by $1.27 Million

Integrated Quantitative Investments LLC has made a significant investment in Howmet Aerospace Inc., acquiring a stake valued at approximately $1.27 million during the second quarter of 2023. This acquisition, detailed in its recent Form 13F filing with the U.S. Securities and Exchange Commission (SEC), included the purchase of 6,819 shares of Howmet Aerospace stock, a company listed on the New York Stock Exchange under the ticker symbol HWM.

The investment comes as part of a broader trend among institutional investors adjusting their holdings in Howmet Aerospace. For instance, Pinpoint Asset Management Ltd increased its stake by 42.8% during the first quarter, now owning 237 shares valued at $31,000 after acquiring an additional 71 shares in the last quarter. Other notable investors include Atlantic Union Bankshares Corp, which bought a new position valued at approximately $32,000, and Hemington Wealth Management, which raised its stake by 46.6%, now holding 255 shares worth $33,000.

As of now, institutional investors own approximately 90.46% of Howmet Aerospace’s stock, reflecting a strong interest in the aerospace and engineering sectors.

Analysts Upgrade Howmet Aerospace Ratings

Several research firms have issued updates regarding Howmet Aerospace’s stock. Vertical Research reaffirmed a “buy” rating on July 31, 2023. In a more recent report, Bank of America raised its target price from $215.00 to $250.00, while maintaining a “buy” rating. Similarly, Truist Financial increased its price target from $202.00 to $217.00, also giving it a “buy” rating.

TD Cowen further raised its price objective from $210.00 to $240.00, with a “buy” recommendation. UBS Group adjusted its target from $199.00 to $209.00 and assigned a “neutral” rating. Currently, 14 analysts rate Howmet Aerospace as a buy, while four have given it a hold rating. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” with an average target price of $215.29.

Howmet Aerospace Financial Performance and Future Outlook

Howmet Aerospace’s stock performance has been robust, opening at $203.00 on the New York Stock Exchange. The company has a market capitalization of $81.62 billion, a price-to-earnings (P/E) ratio of 59.36, and a beta of 1.47. The stock has seen a 52-week low of $105.04 and a high of $211.95.

In its latest quarterly earnings report, released on October 30, 2023, Howmet Aerospace announced earnings per share (EPS) of $0.95, surpassing analysts’ expectations of $0.91 by $0.04. The company reported revenue of $2.09 billion, up 13.8% from the previous year, exceeding the consensus estimate of $2.04 billion. Howmet Aerospace has provided guidance for fiscal year 2025, projecting EPS between $3.660 and $3.680, with fourth-quarter estimates ranging from $0.940 to $0.960.

In addition to its financial results, Howmet Aerospace announced a quarterly dividend of $0.12 per share, payable on November 25, 2023, to investors on record as of November 7, 2023. This dividend represents an annualized yield of 0.2% and a payout ratio of 13.48%.

Howmet Aerospace Inc. specializes in engineered solutions for the aerospace and transportation industries, operating globally across countries such as the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, and China. The company is structured into four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.

Investors and analysts will continue to monitor Howmet Aerospace as it navigates market dynamics and strives for sustained growth in the coming years.