Howmet Aerospace (NYSE:HWM) Price Target Raised to $88.00

Howmet Aerospace (NYSE:HWM) had its price objective lifted by Truist Financial from $74.00 to $88.00 in a report published on Friday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a research note on Friday, January 5th. They set an outperform rating and a $67.00 price target for the company. Benchmark restated a buy rating and set a $53.00 price objective on shares of Howmet Aerospace in a research note on Friday, April 19th. Royal Bank of Canada initiated coverage on Howmet Aerospace in a report on Monday, March 18th. They issued an outperform rating and a $75.00 price objective for the company. Robert W. Baird increased their price target on Howmet Aerospace from $74.00 to $84.00 and gave the company an outperform rating in a research report on Friday. Finally, Barclays boosted their price target on Howmet Aerospace from $60.00 to $65.00 and gave the stock an overweight rating in a research report on Tuesday, February 20th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Howmet Aerospace currently has an average rating of Moderate Buy and an average target price of $73.67.

Howmet Aerospace Trading Up 1.2 %

NYSE:HWM traded up $0.92 on Friday, reaching $79.81. The company’s stock had a trading volume of 2,160,566 shares, compared to its average volume of 3,453,474. The business’s 50-day moving average price is $66.70 and its two-hundred day moving average price is $58.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97. Howmet Aerospace has a 1-year low of $42.17 and a 1-year high of $80.11. The firm has a market cap of $32.58 billion, a PE ratio of 38.55, a PEG ratio of 1.89 and a beta of 1.41.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.05. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. Howmet Aerospace’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. Equities research analysts anticipate that Howmet Aerospace will post 2.37 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

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

Insider Activity at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.12% of the stock is owned by company insiders.

Institutional Trading of Howmet Aerospace

Several large investors have recently modified their holdings of the stock. Norges Bank bought a new position in Howmet Aerospace in the 4th quarter valued at about $508,006,000. JPMorgan Chase & Co. lifted its stake 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 purchasing an additional 7,184,620 shares during the last quarter. FMR LLC boosted its holdings in shares of Howmet Aerospace by 21.2% in 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 in the last quarter. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 1,274,974 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of Howmet Aerospace by 41.3% during 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 in the last quarter. 90.46% of the stock is 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.