The Goldman Sachs Group Boosts Howmet Aerospace (NYSE:HWM) Price Target to $87.00

Howmet Aerospace (NYSE:HWM) had its target price boosted by The Goldman Sachs Group from $77.00 to $87.00 in a research note issued to investors on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. Benchmark reissued a buy rating and set a $53.00 price objective on shares of Howmet Aerospace in a research report on Friday, April 19th. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a research note on Friday, January 5th. They set an outperform rating and a $67.00 target price for the company. Barclays boosted their price target on Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. Robert W. Baird increased their price objective on Howmet Aerospace from $74.00 to $84.00 and gave the stock an outperform rating in a research report on Friday. Finally, KeyCorp boosted their target price on Howmet Aerospace from $60.00 to $70.00 and gave the company an overweight rating in a report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $73.67.

Howmet Aerospace Stock Performance

Shares of HWM traded up $0.92 during midday trading on Friday, reaching $79.81. 2,160,566 shares of the stock were exchanged, compared to its average volume of 3,453,474. The company has a market capitalization 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 current ratio of 1.97 and a quick ratio of 0.92. Howmet Aerospace has a twelve month low of $42.17 and a twelve month high of $80.11. The business’s 50-day moving average price is $66.70 and its 200 day moving average price is $58.16.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. The company 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 firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, sell-side analysts expect that Howmet Aerospace will post 2.37 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

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

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of 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. Company insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds have recently added to or reduced their stakes in the business. Whittier Trust Co. grew its stake 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 acquiring an additional 228 shares during the period. Venturi Wealth Management LLC boosted its holdings in Howmet Aerospace by 61.3% in the third quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock valued at $26,000 after acquiring an additional 212 shares during the last quarter. Headinvest LLC acquired a new position in Howmet Aerospace in the third quarter valued at $30,000. Lindbrook Capital LLC grew its position in Howmet Aerospace by 34.4% during the fourth quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock valued at $48,000 after acquiring an additional 229 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in shares of Howmet Aerospace by 62.9% in the 4th quarter. Quadrant Capital Group LLC now owns 976 shares of the company’s stock worth $53,000 after purchasing an additional 377 shares during the period. 90.46% of the stock is currently 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.