Covea Finance Cuts Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Covea Finance decreased its stake in Howmet Aerospace Inc. (NYSE:HWM) by 11.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 330,470 shares of the company’s stock after selling 42,780 shares during the quarter. Howmet Aerospace accounts for about 1.6% of Covea Finance’s portfolio, making the stock its 18th largest position. Covea Finance’s holdings in Howmet Aerospace were worth $36,144,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in Howmet Aerospace by 293.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,030 shares of the company’s stock worth $113,000 after buying an additional 768 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Howmet Aerospace by 150.5% in the 4th quarter. Park Avenue Securities LLC now owns 10,707 shares of the company’s stock worth $1,171,000 after acquiring an additional 6,433 shares during the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Howmet Aerospace in the 4th quarter valued at $1,137,000. Pines Wealth Management LLC bought a new position in shares of Howmet Aerospace during the 4th quarter valued at $256,000. Finally, Accurate Wealth Management LLC purchased a new position in Howmet Aerospace in the 4th quarter worth $269,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

Shares of HWM stock opened at $119.14 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76. The stock has a market cap of $48.40 billion, a price-to-earnings ratio of 45.47, a PEG ratio of 1.56 and a beta of 1.49. The business’s fifty day moving average is $114.16 and its 200 day moving average is $100.89. Howmet Aerospace Inc. has a twelve month low of $53.18 and a twelve month high of $120.71.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HWM. Sanford C. Bernstein upped their price target on shares of Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Bank of America increased their target price on Howmet Aerospace from $100.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. KeyCorp cut Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Barclays raised their target price on shares of Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

About Howmet Aerospace

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.