Fintel reports that on September 22, 2023, Truist Securities reiterated coverage of Howmet Aerospace (NYSE:HWM) with a Hold recommendation.
Analyst Price Forecast Suggests 21.98% Upside
As of August 31, 2023, the average one-year price target for Howmet Aerospace is 56.20. The forecasts range from a low of 47.47 to a high of $64.05. The average price target represents an increase of 21.98% from its latest reported closing price of 46.07.
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The projected annual revenue for Howmet Aerospace is 6,236MM, an increase of 0.63%. The projected annual non-GAAP EPS is 1.75.
Howmet Aerospace Declares $0.04 Dividend
On July 14, 2023 the company declared a regular quarterly dividend of $0.04 per share ($0.16 annualized). Shareholders of record as of August 4, 2023 received the payment on August 25, 2023. Previously, the company paid $0.04 per share.
At the current share price of $46.07 / share, the stock's dividend yield is 0.35%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.43%, the lowest has been 0.21%, and the highest has been 1.49%. The standard deviation of yields is 0.32 (n=164).
The current dividend yield is 0.26 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 1277 funds or institutions reporting positions in Howmet Aerospace. This is an increase of 39 owner(s) or 3.15% in the last quarter. Average portfolio weight of all funds dedicated to HWM is 0.27%, an increase of 4.93%. Total shares owned by institutions decreased in the last three months by 0.00% to 451,617K shares. 
The put/call ratio of HWM is 0.84, indicating a bullish outlook.
What are Other Shareholders Doing?
Massachusetts Financial Services holds 22,610K shares representing 5.49% ownership of the company. In it's prior filing, the firm reported owning 23,824K shares, representing a decrease of 5.37%. The firm increased its portfolio allocation in HWM by 6.91% over the last quarter.
Janus Henderson Group holds 18,992K shares representing 4.61% ownership of the company. In it's prior filing, the firm reported owning 18,596K shares, representing an increase of 2.08%. The firm increased its portfolio allocation in HWM by 11.24% over the last quarter.
Boston Partners holds 17,442K shares representing 4.23% ownership of the company. In it's prior filing, the firm reported owning 18,223K shares, representing a decrease of 4.48%. The firm increased its portfolio allocation in HWM by 181.08% over the last quarter.
Elliott Investment Management holds 17,095K shares representing 4.15% ownership of the company. In it's prior filing, the firm reported owning 24,676K shares, representing a decrease of 44.35%. The firm decreased its portfolio allocation in HWM by 3.63% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 12,362K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 11,468K shares, representing an increase of 7.23%. The firm increased its portfolio allocation in HWM by 16.34% over the last quarter.
Howmet Aerospace Background Information
(This description is provided by the company.)
Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and transportation industries. The Company's primary businesses focus on jet engine components, aerospace fastening systems, and titanium structural parts necessary for mission-critical performance and efficiency in aerospace and defense applications, as well as forged wheels for commercial transportation. With nearly 1,200 granted and pending patents, the Company's differentiated technologies enable lighter, more fuel-efficient aircraft to operate with a lower carbon footprint. In 2019, the businesses of Howmet Aerospace reported annual revenue of over $7 billion.
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