Howmet Aerospace (NYSE:HWM) Reaches New 12-Month High After Analyst Upgrade

Howmet Aerospace Inc. (NYSE:HWM)’s stock price hit a new 52-week high during trading on Wednesday after Bank of America raised their price target on the stock from $100.00 to $135.00. Bank of America currently has a buy rating on the stock. Howmet Aerospace traded as high as $116.53 and last traded at $116.53, with a volume of 1178 shares changing hands. The stock had previously closed at $113.58.

HWM has been the subject of several other reports. Sanford C. Bernstein raised their target price on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Robert W. Baird raised their price objective on shares of Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. KeyCorp downgraded shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Susquehanna increased their target price on Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Finally, Barclays lifted their price target on Howmet Aerospace from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $115.41.

Insider Activity at Howmet Aerospace

In other news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the sale, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Howmet Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cultivar Capital Inc. bought a new stake in Howmet Aerospace during the 2nd quarter valued at approximately $26,000. RiverPark Advisors LLC bought a new stake in shares of Howmet Aerospace in the third quarter valued at approximately $26,000. LGT Financial Advisors LLC grew its stake in shares of Howmet Aerospace by 278.7% in the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after acquiring an additional 262 shares during the last quarter. Hollencrest Capital Management bought a new position in Howmet Aerospace during the third quarter worth $30,000. Finally, Rothschild Investment LLC acquired a new position in Howmet Aerospace during the 2nd quarter valued at $32,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Trading Up 2.6 %

The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $47.34 billion, a P/E ratio of 43.34, a P/E/G ratio of 1.56 and a beta of 1.46. The business’s fifty day simple moving average is $101.15 and its two-hundred day simple moving average is $90.30.

Howmet Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. Howmet Aerospace’s payout ratio is 12.21%.

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.