Keybanc Lowers Rating on Howmet Aerospace: What Does This Mean for Investors?
Growing Institutional Interest in Howmet Aerospace
Fintel reports that on October 24, 2024, Keybanc adjusted its outlook for Howmet Aerospace (SNSE:HWM) from Overweight to Sector Weight.
Understanding Fund Sentiment
Currently, 1,585 funds or institutions have reported positions in Howmet Aerospace, an increase of 113 owners or 7.68% from the previous quarter. The average portfolio weight of all funds invested in HWM now stands at 0.28%, reflecting a rise of 5.65%. Furthermore, total shares held by institutions have grown by 0.26% over the last three months, totaling 448,020K shares.
Massachusetts Financial Services has reduced its holdings to 19,846K shares, representing 4.86% ownership, down from 22,660K shares, indicating a decrease of 14.18%. The firm has lowered its allocation in HWM by 84.31% over the last quarter.
J.P. Morgan Chase also cut back its investment, now holding 16,375K shares (4.01% ownership). This is down from 17,878K shares, representing a 9.18% decline. Their portfolio allocation in HWM decreased by 84.20% in the past quarter.
In contrast, Price T Rowe Associates increased its holdings to 13,751K shares (3.37% ownership), slightly down from 14,131K shares, which translates to a decrease of 2.76%. This firm, however, boosted its portfolio allocation in HWM by 7.78% over the last quarter.
Vanguard Total Stock Market Index Fund Investor Shares holds 12,891K shares (3.16% ownership), largely unchanged from 12,912K shares, which shows a minor decrease of 0.16%. This fund raised its allocation in HWM by 10.14% in the previous quarter.
Lastly, Bank of America increased its investment in Howmet Aerospace to 11,877K shares (2.91% ownership), compared to 10,972K shares earlier, representing a 7.62% uptick. However, their portfolio allocation in HWM dropped by 71.22% over the last quarter.
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This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
