Howmet Aerospace (NYSE:HWM) Price Target Raised to $90.00 at Royal Bank of Canada

Howmet Aerospace (NYSE:HWM) had its target price upped by Royal Bank of Canada from $75.00 to $90.00 in a research note issued to investors on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other research firms have also weighed in on HWM. Barclays raised their price objective on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. KeyCorp increased their price objective on Howmet Aerospace from $60.00 to $70.00 and gave the company an overweight rating in a research report on Wednesday, February 21st. Sanford C. Bernstein assumed coverage on Howmet Aerospace in a report on Friday, January 5th. They issued an outperform rating and a $67.00 target price on the stock. The Goldman Sachs Group upped their target price on Howmet Aerospace from $65.00 to $77.00 and gave the company a buy rating in a report on Tuesday, April 16th. Finally, Robert W. Baird lifted their price target on Howmet Aerospace from $74.00 to $84.00 and gave the stock an outperform rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $69.77.

Howmet Aerospace Price Performance

Shares of Howmet Aerospace stock traded up $1.79 on Friday, hitting $78.89. The company had a trading volume of 6,147,936 shares, compared to its average volume of 3,546,927. Howmet Aerospace has a 52 week low of $42.17 and a 52 week high of $79.47. The company has a market cap of $32.22 billion, a PE ratio of 38.11, a PEG ratio of 1.86 and a beta of 1.41. The business has a 50-day simple moving average of $66.70 and a 200-day simple moving average of $57.97. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.87.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Research analysts expect that Howmet Aerospace will post 2.35 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

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

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of Howmet Aerospace stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Howmet Aerospace during the 4th quarter worth $508,006,000. JPMorgan Chase & Co. lifted its position in shares of Howmet Aerospace by 118.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock worth $612,307,000 after purchasing an additional 7,184,620 shares during the last quarter. FMR LLC boosted its stake in Howmet Aerospace by 21.2% during the 3rd quarter. FMR LLC now owns 15,086,149 shares of the company’s stock valued at $697,734,000 after purchasing an additional 2,635,894 shares during the period. Vanguard Group Inc. grew its holdings in Howmet Aerospace by 2.9% in 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 last quarter. Finally, Capital World Investors increased its position in Howmet Aerospace by 41.3% in the 4th 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 during the period. 90.46% of the stock is currently owned by institutional investors.

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.