Hardman Johnston Global Advisors, an investment management company, released its “Hardman Johnston Global Equity” fourth quarter 2024, investor letter. A copy of the letter can be downloaded here. The fourth quarter concluded the portfolio’s successful year in comparison to its benchmark index. The strategy returned -0.17%, net of fees, in the quarter, compared to -0.99% return for the MSCI AC World Net Index. From a sector standpoint, the main drivers of the portfolio’s outperformance during the quarter were Industrials and Materials. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Hardman Johnston Global Equity Strategy emphasized stocks such as Howmet Aerospace Inc. (NYSE:HWM). Howmet Aerospace Inc. (NYSE:HWM) offers advanced engineered solutions for the aerospace and transportation industries that operate through Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels segments. The one-month return of Howmet Aerospace Inc. (NYSE:HWM) was 1.42%, and its shares gained 93.35% of their value over the last 52 weeks. On March 20, 2025, Howmet Aerospace Inc. (NYSE:HWM) stock closed at $131.67 per share with a market capitalization of $53.33 billion.
Hardman Johnston Global Equity Strategy stated the following regarding Howmet Aerospace Inc. (NYSE:HWM) in its Q4 2024 investor letter:
“From a sector standpoint, the main drivers of the portfolio’s outperformance during the fourth quarter were Industrials and Materials. Within Industrials, Howmet Aerospace Inc. (NYSE:HWM) and Vertiv Holdings Co. were the largest contributors to outperformance. Howmet reported an earnings beat during the quarter with broad-based strength spanning across all key segments. In particular, the company’s Engine Products and Fasteners segment performed well. During the earnings call, management spent significant time describing the emerging new growth driver of industrial gas turbines, which are used in gas power plants, which have become a focus for investors due to accelerating demand from AI data centers. Howmet is the leading supplier to the three major producers of these engines and will benefit from both initial purposes and the long-term maintenance demand.”
Engineers examining stress tests of an aircraft engine, working to make sure its ready for flight.
Howmet Aerospace Inc. (NYSE:HWM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held Howmet Aerospace Inc. (NYSE:HWM) at the end of the fourth quarter which was 45 in the previous quarter. Howmet Aerospace Inc.’s (NYSE:HWM) revenue was up 9% in the fourth quarter and up 12% for the full year. While we acknowledge the potential of Howmet Aerospace Inc. (NYSE:HWM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Howmet Aerospace Inc. (NYSE:HWM) and shared the list of best American defense stocks to buy. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.