Howmet Aerospace (NYSE:HWM) PT Raised to $88.00

Howmet Aerospace (NYSE:HWM) had its target price upped by Truist Financial from $74.00 to $88.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada initiated coverage on shares of Howmet Aerospace in a research note on Monday, March 18th. They issued an outperform rating and a $75.00 target price on the stock. KeyCorp increased their price objective on Howmet Aerospace from $60.00 to $70.00 and gave the stock an overweight rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. lifted their target price on Howmet Aerospace from $55.00 to $60.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. UBS Group increased their price target on Howmet Aerospace from $57.00 to $66.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group raised their price target on Howmet Aerospace from $65.00 to $77.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $69.77.

Howmet Aerospace Trading Up 2.3 %

HWM traded up $1.79 during trading hours on Friday, reaching $78.89. 6,147,936 shares of the company’s stock traded hands, compared to its average volume of 3,546,927. The firm has a 50-day moving average price of $66.70 and a 200 day moving average price of $57.97. The firm has a market capitalization of $32.22 billion, a PE ratio of 38.11, a PEG ratio of 1.86 and a beta of 1.41. The company has a quick ratio of 0.87, a current ratio of 1.97 and a debt-to-equity ratio of 0.86. Howmet Aerospace has a 52-week low of $42.17 and a 52-week high of $79.47.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.74 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. As a group, sell-side analysts predict that Howmet Aerospace will post 2.35 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, May 9th. Howmet Aerospace’s payout ratio is 9.66%.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

Institutional investors have recently bought and sold shares of the company. AE Wealth Management LLC acquired a new position in shares of Howmet Aerospace during the third quarter worth $262,000. Commonwealth Equity Services LLC grew its stake in Howmet Aerospace by 18.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 47,733 shares of the company’s stock worth $2,208,000 after buying an additional 7,534 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its position in Howmet Aerospace by 4.0% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 220,120 shares of the company’s stock valued at $10,181,000 after buying an additional 8,516 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Howmet Aerospace by 3.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 28,617 shares of the company’s stock valued at $1,324,000 after buying an additional 874 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Howmet Aerospace by 54.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 55,686 shares of the company’s stock valued at $2,575,000 after buying an additional 19,709 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

About Howmet Aerospace

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.