Howmet Aerospace (NYSE:HWM) PT Raised to $77.00

Howmet Aerospace (NYSE:HWM) had its price target increased by The Goldman Sachs Group from $65.00 to $77.00 in a report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on HWM. Truist Financial raised shares of Howmet Aerospace from a hold rating to a buy rating and upped their price target for the stock from $47.00 to $74.00 in a research note on Wednesday, January 10th. KeyCorp upped 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. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a research note on Wednesday, February 14th. Royal Bank of Canada assumed coverage on Howmet Aerospace in a research note on Monday, March 18th. They issued an outperform rating and a $75.00 price objective for the company. Finally, Barclays boosted their target price on Howmet Aerospace from $60.00 to $65.00 and gave the stock an overweight rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $66.00.

Howmet Aerospace Stock Down 0.1 %

Shares of NYSE:HWM opened at $63.41 on Tuesday. The company has a market cap of $25.90 billion, a price-to-earnings ratio of 34.65, a PEG ratio of 1.65 and a beta of 1.43. Howmet Aerospace has a fifty-two week low of $42.17 and a fifty-two week high of $69.55. The firm’s 50-day simple moving average is $65.71 and its 200-day simple moving average is $56.42. 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 released its earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The firm’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. As a group, equities research analysts predict that Howmet Aerospace will post 2.18 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.32%. Howmet Aerospace’s dividend payout ratio is currently 10.93%.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s 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 sale, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.23% of the company’s stock.

Institutional Trading of Howmet Aerospace

Hedge funds have recently added to or reduced their stakes in the business. Veracity Capital LLC lifted its holdings in shares of Howmet Aerospace by 23.3% during the 1st quarter. Veracity Capital LLC now owns 6,902 shares of the company’s stock worth $472,000 after acquiring an additional 1,304 shares during the period. First Trust Direct Indexing L.P. increased its position in Howmet Aerospace by 16.3% during the first quarter. First Trust Direct Indexing L.P. now owns 7,421 shares of the company’s stock worth $508,000 after purchasing an additional 1,040 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Howmet Aerospace by 7.8% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 420,354 shares of the company’s stock worth $28,765,000 after purchasing an additional 30,240 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Howmet Aerospace by 16.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 141,223 shares of the company’s stock valued at $9,664,000 after purchasing an additional 19,431 shares during the last quarter. Finally, Oak Thistle LLC increased its holdings in shares of Howmet Aerospace by 8.3% during the 1st quarter. Oak Thistle LLC now owns 8,150 shares of the company’s stock worth $558,000 after buying an additional 626 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

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.