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

Howmet Aerospace (NYSE:HWM) had its price objective lifted by Wells Fargo & Company from $72.00 to $88.00 in a research report report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

HWM has been the topic of a number of other research reports. KeyCorp raised their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the company an overweight rating in a research note on Wednesday, February 21st. The Goldman Sachs Group boosted their price objective on Howmet Aerospace from $77.00 to $87.00 and gave the stock a buy rating in a research note on Friday, May 3rd. Benchmark reiterated a buy rating and issued a $53.00 target price on shares of Howmet Aerospace in a research note on Friday, April 19th. Robert W. Baird boosted their price target on Howmet Aerospace from $74.00 to $84.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Finally, UBS Group increased their price objective on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $73.67.

Howmet Aerospace Price Performance

HWM stock opened at $82.03 on Monday. The company has a market cap of $33.48 billion, a PE ratio of 39.54, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average price of $67.55 and a two-hundred day moving average price of $58.83. Howmet Aerospace has a 12-month low of $42.17 and a 12-month high of $82.03.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.74 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. As a group, research analysts predict that Howmet Aerospace will post 2.37 EPS 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 given a $0.05 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. Howmet Aerospace’s payout ratio is 9.66%.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Accurate Wealth Management LLC bought a new position in Howmet Aerospace in the fourth quarter worth about $2,825,000. First Trust Direct Indexing L.P. lifted its holdings in shares of Howmet Aerospace by 24.8% in the 4th quarter. First Trust Direct Indexing L.P. now owns 6,381 shares of the company’s stock worth $345,000 after purchasing an additional 1,269 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Howmet Aerospace during the 3rd quarter valued at approximately $1,697,000. QRG Capital Management Inc. bought a new position in Howmet Aerospace during the 3rd quarter worth $407,000. Finally, Cullen Investment Group LTD. acquired a new stake in Howmet Aerospace in the fourth quarter worth $703,000. 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.