Howmet Aerospace (NYSE:HWM) Price Target Raised to $74.00

Howmet Aerospace (NYSE:HWM) had its target price hoisted by Robert W. Baird from $65.00 to $74.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. KeyCorp increased their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an overweight rating in a research report on Wednesday, February 21st. UBS Group increased their price target on shares of Howmet Aerospace from $57.00 to $66.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Truist Financial upgraded shares of Howmet Aerospace from a hold rating to a buy rating and increased their price target for the stock from $47.00 to $74.00 in a research report on Wednesday, January 10th. Barclays increased their price objective on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Howmet Aerospace from $55.00 to $60.00 and gave the company an overweight rating in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $65.08.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM opened at $65.59 on Monday. The company’s 50 day moving average price is $65.09 and its two-hundred day moving average price is $55.69. Howmet Aerospace has a 12-month low of $42.12 and a 12-month high of $69.55. The firm has a market cap of $26.79 billion, a PE ratio of 35.84, a PEG ratio of 1.74 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 (NYSE:HWM) last announced its earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue was up 14.4% compared to the same quarter last year. Equities research analysts predict that Howmet Aerospace will post 2.18 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend was Thursday, February 8th. Howmet Aerospace’s payout ratio is currently 10.93%.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in Howmet Aerospace by 61.3% during the third quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock worth $26,000 after buying an additional 212 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in Howmet Aerospace during the third quarter worth $31,000. Headinvest LLC bought a new position in Howmet Aerospace during the third quarter worth $30,000. Garner Asset Management Corp bought a new position in Howmet Aerospace during the fourth quarter worth $42,000. Finally, Clear Street Markets LLC raised its stake in Howmet Aerospace by 93.8% during the first quarter. Clear Street Markets LLC now owns 721 shares of the company’s stock worth $31,000 after buying an additional 349 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

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.