Is this the Best Time to Harvest Howmet Aerospace (HWM)?

Oakmark Funds, advised by Harris Associates, released its “Oakmark Equity and Income Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. The fund increased 3.3% in the first quarter compared to a 4.3% return for the Lipper Balanced Fund Index. The fund generated a 9.4% compounded annual rate of return since its inception in 1995 compared to the Index’s return of 6.7%. The equities returned 4.4% in the quarter underperforming the S&P 500 Index which returned 7.5%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Oakmark Equity and Income Fund highlighted stocks like Howmet Aerospace Inc. (NYSE:HWM) in the first quarter 2023 investor letter. Headquartered in Pittsburgh, Pennsylvania, Howmet Aerospace Inc. (NYSE:HWM) is an engineering solutions provider for the aerospace and transportation industries. On April 12, 2023, Howmet Aerospace Inc. (NYSE:HWM) stock closed at $43.41 per share. One-month return of Howmet Aerospace Inc. (NYSE:HWM) was 7.32% and its shares gained 22.35% of their value over the last 52 weeks. Howmet Aerospace Inc. (NYSE:HWM) has a market capitalization of $17.876 billion.

Oakmark Equity and Income Fund made the following comment about Howmet Aerospace Inc. (NYSE:HWM) in its Q1 2023 investor letter:

“During the quarter, we eliminated three positions: Howmet Aerospace Inc. (NYSE:HWM), Keurig Dr Pepper and LivaNova. Howmet performed well and reached our sell target. This is our second successful investment with CEO John Plant, whom we rank among the top CEOs.”

Airplane, Industry, Technology

Photo by Thisisengineering Raeng on Unsplash

Howmet Aerospace Inc. (NYSE:HWM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Howmet Aerospace Inc. (NYSE:HWM) at the end of the fourth quarter which was 46 in the previous quarter.

We discussed Howmet Aerospace Inc. (NYSE:HWM) in another article and shared the list of best defense stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.