Brokerages Set Howmet Aerospace Inc. (NYSE:HWM) Target Price at $294.53

Howmet Aerospace Inc. (NYSE:HWM) has received a consensus recommendation of “Moderate Buy” from the twenty ratings firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $300.3333.

Several research analysts recently commented on the stock. UBS Group increased their target price on shares of Howmet Aerospace from $260.00 to $290.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Susquehanna boosted their price target on shares of Howmet Aerospace from $300.00 to $330.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $320.00 price objective on shares of Howmet Aerospace in a research note on Friday, May 8th. Wall Street Zen cut Howmet Aerospace from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Finally, Citigroup increased their price target on Howmet Aerospace from $303.00 to $311.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st.

Insiders Place Their Bets

In related news, EVP Neil Edward Marchuk sold 41,932 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $269.50, for a total transaction of $11,300,674.00. Following the transaction, the executive vice president directly owned 65,105 shares in the company, valued at approximately $17,545,797.50. The trade was a 39.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Brighton Jones LLC raised its stake in Howmet Aerospace by 5.4% in the fourth quarter. Brighton Jones LLC now owns 2,548 shares of the company’s stock valued at $279,000 after buying an additional 130 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Howmet Aerospace during the 1st quarter worth about $399,000. Sivia Capital Partners LLC acquired a new position in Howmet Aerospace in the 2nd quarter valued at about $216,000. Brown Advisory Inc. grew its stake in Howmet Aerospace by 31.0% in the 2nd quarter. Brown Advisory Inc. now owns 4,180 shares of the company’s stock valued at $778,000 after buying an additional 990 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in Howmet Aerospace in the 2nd quarter valued at about $145,000. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Up 1.1%

HWM stock opened at $291.28 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.44 and a quick ratio of 1.59. The stock has a market capitalization of $116.54 billion, a P/E ratio of 67.58, a P/E/G ratio of 2.26 and a beta of 1.20. Howmet Aerospace has a fifty-two week low of $169.45 and a fifty-two week high of $295.28. The business has a 50-day moving average of $271.75 and a 200-day moving average of $253.31.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Thursday, May 7th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. Howmet Aerospace had a return on equity of 29.27% and a net margin of 20.23%.The firm had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Howmet Aerospace will post 5.05 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Friday, August 7th will be paid a $0.14 dividend. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, August 7th. Howmet Aerospace’s dividend payout ratio (DPR) is 12.99%.

About Howmet Aerospace

Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.

Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.