Howmet Aerospace (NYSE:HWM) Price Target Raised to $113.00

Howmet Aerospace (NYSE:HWM) had its target price hoisted by Robert W. Baird from $84.00 to $113.00 in a research note issued to investors on Wednesday, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

HWM has been the topic of several other reports. Argus raised their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the company a buy rating in a report on Monday, May 6th. BTIG Research began coverage on shares of Howmet Aerospace in a research note on Wednesday, June 26th. They issued a buy rating and a $95.00 price target on the stock. Benchmark upped their price objective on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a buy rating in a research report on Friday, July 12th. KeyCorp lifted their target price on shares of Howmet Aerospace from $70.00 to $90.00 and gave the company an overweight rating in a research report on Tuesday, May 28th. Finally, Truist Financial boosted their target price on shares of Howmet Aerospace from $74.00 to $88.00 and gave the stock a buy rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace currently has a consensus rating of Moderate Buy and an average price target of $88.33.

Howmet Aerospace Trading Down 5.0 %

Howmet Aerospace stock opened at $90.16 on Wednesday. The firm has a market cap of $36.80 billion, a PE ratio of 43.56, a P/E/G ratio of 1.58 and a beta of 1.45. Howmet Aerospace has a 12 month low of $42.94 and a 12 month high of $97.29. The stock’s 50 day simple moving average is $81.98 and its two-hundred day simple moving average is $72.15. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. Analysts anticipate that Howmet Aerospace will post 2.6 earnings per share for the current 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. The ex-dividend date is Friday, August 9th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. Howmet Aerospace’s dividend payout ratio is 15.46%.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the company’s stock in a transaction on 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 directly owns 217,687 shares in the company, valued at approximately $18,342,306.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Howmet Aerospace

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Howmet Aerospace by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after buying an additional 1,274,974 shares during the period. JPMorgan Chase & Co. increased its stake in Howmet Aerospace by 18.7% during the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after acquiring an additional 2,813,911 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Howmet Aerospace by 28.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after purchasing an additional 3,158,186 shares during the period. Norges Bank acquired a new position in shares of Howmet Aerospace in the 4th quarter valued at $508,006,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Howmet Aerospace by 15.1% during the 1st quarter. Bank of New York Mellon Corp now owns 6,184,692 shares of the company’s stock worth $423,218,000 after purchasing an additional 810,681 shares during the period. 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.