Howmet Aerospace (NYSE:HWM) Stock Rating Reaffirmed by Benchmark

Benchmark reissued their buy rating on shares of Howmet Aerospace (NYSE:HWM) in a research report sent to investors on Friday, Benzinga reports. They currently have a $53.00 price target on the stock.

Several other research firms have also recently weighed in on HWM. Sanford C. Bernstein initiated coverage on Howmet Aerospace in a research report on Friday, January 5th. They issued an outperform rating and a $67.00 price objective on the stock. KeyCorp boosted their price objective on Howmet Aerospace from $60.00 to $70.00 and gave the stock an overweight rating in a research report on Wednesday, February 21st. Truist Financial raised Howmet Aerospace from a hold rating to a buy rating and boosted their price objective for the stock from $47.00 to $74.00 in a research report on Wednesday, January 10th. JPMorgan Chase & Co. boosted their price objective on Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. Finally, UBS Group boosted their target price on Howmet Aerospace from $57.00 to $66.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Howmet Aerospace presently has a consensus rating of Moderate Buy and a consensus target price of $66.00.

Howmet Aerospace Stock Down 0.8 %

Shares of NYSE:HWM opened at $62.93 on Friday. The stock has a market cap of $25.70 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 1.65 and a beta of 1.43. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. Howmet Aerospace has a 12-month low of $42.17 and a 12-month high of $69.55. The business’s 50 day moving average is $65.79 and its 200 day moving average is $56.69.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. Howmet Aerospace’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, sell-side analysts forecast that Howmet Aerospace will post 2.18 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Friday, February 9th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.32%. Howmet Aerospace’s payout ratio is 10.93%.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the sale, the executive vice president now directly owns 229,568 shares in the company, valued at approximately $15,482,065.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HWM. Norges Bank purchased a new position in Howmet Aerospace during the fourth quarter worth about $508,006,000. JPMorgan Chase & Co. grew its position in Howmet Aerospace by 118.7% during the third quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock worth $612,307,000 after buying an additional 7,184,620 shares in the last quarter. FMR LLC grew its position in Howmet Aerospace by 21.2% during the third quarter. FMR LLC now owns 15,086,149 shares of the company’s stock worth $697,734,000 after buying an additional 2,635,894 shares in the last quarter. Vanguard Group Inc. grew its position in Howmet Aerospace by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after buying an additional 1,274,974 shares in the last quarter. Finally, Capital World Investors grew its position in Howmet Aerospace by 41.3% during the fourth quarter. Capital World Investors now owns 3,507,255 shares of the company’s stock worth $189,813,000 after buying an additional 1,025,102 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

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.