Truist Financial Boosts Howmet Aerospace (NYSE:HWM) Price Target to $105.00

Howmet Aerospace (NYSE:HWM) had its price target raised by Truist Financial from $88.00 to $105.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada upped their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Argus increased their target price on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock a buy rating in a research note on Monday, May 6th. Northcoast Research reissued a sell rating and issued a $70.00 price objective on shares of Howmet Aerospace in a research note on Friday, June 14th. Barclays raised their price target on Howmet Aerospace from $65.00 to $85.00 and gave the company an overweight rating in a report on Monday, May 6th. Finally, Robert W. Baird upped their target price on shares of Howmet Aerospace from $84.00 to $113.00 and gave the stock an outperform rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $88.33.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $90.16 on Wednesday. The firm has a market capitalization of $36.80 billion, a price-to-earnings ratio of 43.56, a PEG ratio of 1.58 and a beta of 1.45. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. Howmet Aerospace has a 52-week low of $42.94 and a 52-week high of $97.29. The company has a fifty day simple moving average of $81.98 and a 200-day simple moving average of $72.15.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company earned $0.44 EPS. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Howmet Aerospace will post 2.6 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, August 9th. Howmet Aerospace’s dividend payout ratio is 15.46%.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $84.26, for a total value of $2,748,055.64. Following the completion of the sale, the executive vice president now owns 217,687 shares of the company’s stock, valued at $18,342,306.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.12% of the company’s stock.

Institutional Trading of Howmet Aerospace

Hedge funds have recently modified their holdings of the company. Blair William & Co. IL increased its position in shares of Howmet Aerospace by 51.6% during the 1st quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock worth $1,744,000 after purchasing an additional 8,676 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Howmet Aerospace by 70.1% in the first quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock valued at $87,131,000 after purchasing an additional 524,805 shares during the last quarter. Quadrature Capital Ltd increased its stake in shares of Howmet Aerospace by 303.8% in the 4th quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock valued at $1,279,000 after acquiring an additional 17,777 shares during the last quarter. National Bank of Canada FI raised its holdings in Howmet Aerospace by 39.0% in the fourth quarter. National Bank of Canada FI now owns 120,557 shares of the company’s stock worth $6,477,000 after purchasing an additional 33,844 shares during the period. Finally, First Trust Direct Indexing L.P. raised its stake in Howmet Aerospace by 24.8% during the 4th quarter. First Trust Direct Indexing L.P. now owns 6,381 shares of the company’s stock worth $345,000 after buying an additional 1,269 shares during the period. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Company Profile

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.