Illinois City Retirement Fund Shows Confidence in Howmet Aerospace Inc.
The Illinois Municipal Retirement Fund has acquired 15,898 shares of Howmet Aerospace (NYSE:HWM), valued at approximately $627,000, according to a recent filing with the Securities and Exchange Commission. This new position by the fund demonstrates their confidence in the company and its reported earnings in the fourth quarter of last year.
Howmet Aerospace finally announced its quarterly results on Tuesday, February 14th. The company matched consensus expectations for his EPS of $0.38, and he earned $1.51 billion in the quarter compared to analyst estimates of $1.47 billion. The company posted a net profit margin of 8.28% and a return on equity of 17.53%. During this period, Howmet Aerospace’s revenue increased 17.7% compared to the prior year when EPS was $0.30.
As a result of these strong performances, HWM has attracted the attention of the investment community and many research reports have been published on the company’s future potential.
Jefferies Financial Group began reporting on HWM in March, setting a ‘buy’ rating with a price target of $50 per share, while Argus increased its price target from $43 to $49, and in February I gave it a “buy” rating.
Truist Financial gave HWM a ‘Hold’ rating and raised its price target from $35 to $39 in February.
Finally, the benchmark set a price target of $49 per share for Howmet Aerospace Inc., while changing the recommendation from a ‘hold’ rating to a ‘buy’ rating.
In summary, according to Bloomberg data, eight research analysts rated HWM as a buy and one as a hold. Therefore, the average target price projection just above the current price is approximately $46 per share.
It is clear that Howmet Aerospace Inc. has received a lot of attention from the investment community who believe it is well-positioned for future growth and success, and this is reflected in the increased investment in the Illinois Municipal Retirement Fund. And it seems. It will continue to be a noteworthy and interesting company for both current and potential investors.
Institutional Investors and Hedge Funds Show Strong Interest in Howmet Aerospace Inc., Showing Strong Financial Performance and Positive Analyst Ratings
Howmet Aerospace Inc., with a market capitalization of $17.82 billion and a beta of 1.44, has reported that several hedge funds and other institutional investors have changed positions in the business. Raymond James Trust NA recently acquired a new position in his Howmet Aerospace shares in Q4 2020 for approximately $217,000. Other companies such as ProShare Advisors LLC, Bank of Montreal Can, Zurcher Kantonalbank Zurich Cantonalbank and CWM LLC also raised their stakes in the company in Q4 2020. Same period. With 91.49% of his shares currently owned by institutional investors and hedge funds, it’s clear that Howmet Aerospace is a popular choice among these types of investors.
NYSE HWM shares opened at $43.27 on Tuesday with a PE of 38.98 and a P/E/G of 1.11. The company has a quick ratio of 1.04, a current ratio of 2.12, and a debt-to-equity ratio of 1.17, both indicating strong financial health.
HWM has been the subject of various research reports conducted by various companies such as Wells Fargo & Company, Jefferies Financial Group, Argus, Truist Financial and Benchmark, all of which have gone from ‘holding’ to ‘buying’. We offer a range of ratings at average prices. Bloomberg has set a target of $46.
The company’s dividend payout ratio currently stands at 14.41%, and shareholders will receive their quarterly dividend on Thursday, May 25. Neil Edward Marchuk and vice president Barbara Lou Shultz recently announced their shares in separate transactions earlier this year. was sold.
Despite these developments, Howmet Aerospace, due to its strong financial performance, coupled with positive ratings from multiple financial analysts so far, is an institutional investor looking to capitalize on growth opportunities within this industry. One of the most attractive stocks for homes.