Howmet Aerospace (NYSE:HWM) Receives “Equal Weight” Rating from Wells Fargo & Company

Wells Fargo & Company restated their equal weight rating on shares of Howmet Aerospace (NYSE:HWM) in a research report report published on Tuesday morning, Marketbeat reports. The firm currently has a $118.00 target price on the stock, down from their previous target price of $132.00.

A number of other brokerages have also commented on HWM. JPMorgan Chase & Co. lifted their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Barclays lifted their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Northcoast Research raised Howmet Aerospace from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. Morgan Stanley lifted their price objective on Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, Truist Financial reissued a “buy” rating and issued a $140.00 target price (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.50.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $124.44 on Tuesday. The firm has a market cap of $50.40 billion, a P/E ratio of 44.13, a PEG ratio of 1.92 and a beta of 1.25. Howmet Aerospace has a twelve month low of $62.80 and a twelve month high of $140.55. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The company has a 50 day moving average of $128.70 and a 200 day moving average of $118.39.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. As a group, research analysts expect that Howmet Aerospace will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.32%. Howmet Aerospace’s payout ratio is 14.18%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Howmet Aerospace in the fourth quarter valued at about $25,000. Meeder Asset Management Inc. lifted its holdings in Howmet Aerospace by 208.1% in the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Howmet Aerospace in the 4th quarter worth approximately $25,000. R Squared Ltd purchased a new stake in Howmet Aerospace during the 4th quarter valued at approximately $26,000. Finally, Washington Trust Advisors Inc. bought a new stake in shares of Howmet Aerospace during the fourth quarter valued at approximately $29,000. 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.