Howmet Aerospace (NYSE:HWM) Price Target Raised to $84.00

Howmet Aerospace (NYSE:HWM) had its price objective hoisted by Robert W. Baird from $74.00 to $84.00 in a report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the stock. KeyCorp raised their price target on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an overweight rating in a research note on Wednesday, February 21st. Royal Bank of Canada assumed coverage on shares of Howmet Aerospace in a research report on Monday, March 18th. They set an outperform rating and a $75.00 target price on the stock. Barclays boosted their price target on Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. raised their price objective on Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. Finally, Truist Financial upgraded Howmet Aerospace from a hold rating to a buy rating and upped their target price for the company from $47.00 to $74.00 in a research note on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Howmet Aerospace has a consensus rating of Moderate Buy and a consensus price target of $73.67.

Howmet Aerospace Price Performance

HWM stock traded up $0.92 during midday trading on Friday, hitting $79.81. 2,160,566 shares of the stock were exchanged, compared to its average volume of 3,453,474. The stock has a market cap of $32.58 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 1.89 and a beta of 1.41. 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 fifty-two week low of $42.17 and a fifty-two week high of $80.11. The stock’s 50-day moving average price is $66.70 and its 200-day moving average price is $58.16.

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

Howmet Aerospace Dividend Announcement

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC raised its holdings in shares of Howmet Aerospace by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 4,571 shares of the company’s stock valued at $247,000 after buying an additional 200 shares during the period. Geneos Wealth Management Inc. grew its holdings in Howmet Aerospace by 10.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 2,259 shares of the company’s stock valued at $122,000 after purchasing an additional 205 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Howmet Aerospace by 61.3% during the 3rd 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 period. Whittier Trust Co. lifted its holdings in Howmet Aerospace by 81.4% in the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after buying an additional 228 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in Howmet Aerospace by 34.4% in the 4th quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock valued at $48,000 after buying an additional 229 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other 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.