Howmet Aerospace (NYSE:HWM) Stock Gets Price Target Reduction from UBS Group

Howmet Aerospace (NYSE:HWM) had its price objective trimmed by UBS Group from $255.00 to $230.00 in a report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts also recently issued reports on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $298.00 price target (down from $328.00) on shares of Howmet Aerospace in a research note on Wednesday, October 7th. Wells Fargo & Company lowered their price objective on shares of Howmet Aerospace from $315.00 to $255.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 30th. JPMorgan Chase & Co. raised their target price on shares of Howmet Aerospace from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Royal Bank Of Canada cut their target price on shares of Howmet Aerospace from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Finally, Citigroup reaffirmed a “buy” rating on shares of Howmet Aerospace in a report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $295.95.

Howmet Aerospace Stock Performance

NYSE HWM opened at $199.43 on Friday. The business has a 50 day moving average price of $229.00 and a 200 day moving average price of $248.49. The company has a market capitalization of $79.31 billion, a P/E ratio of 39.03, a PEG ratio of 1.75 and a beta of 1.31. Howmet Aerospace has a 1-year low of $183.52 and a 1-year high of $310.00. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.86 and a quick ratio of 0.90.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, October 29th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.59 billion. Howmet Aerospace had a return on equity of 36.44% and a net margin of 21.10%. Howmet Aerospace’s quarterly revenue was up 29.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. Sell-side analysts expect that Howmet Aerospace will post 5.45 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, November 6th. This represents a $0.56 annualized dividend and a dividend yield of 0.3%. Howmet Aerospace’s dividend payout ratio (DPR) is 10.96%.

Institutional Investors Weigh In On Howmet Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in HWM. BlackRock Inc. purchased a new stake in Howmet Aerospace in the 2nd quarter valued at about $12,318,939,000. Bank of America Corp DE purchased a new position in shares of Howmet Aerospace during the 2nd quarter worth about $2,766,806,000. Jupiter Topco LLC acquired a new stake in shares of Howmet Aerospace in the second quarter worth approximately $2,065,086,000. Bank of New York Mellon Corp acquired a new stake in shares of Howmet Aerospace in the second quarter worth approximately $1,099,765,000. Finally, Legal & General Group Plc acquired a new stake in shares of Howmet Aerospace in the second quarter worth approximately $580,991,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

About Howmet Aerospace

Howmet Aerospace Inc (NYSE:HWM) is a global manufacturer of advanced engineered products and materials primarily serving the aerospace, defense, commercial transportation and industrial markets. The company develops components designed to operate in demanding environments where strength, durability and weight reduction are important.

Howmet’s product portfolio includes aircraft engine components, airframe structures, titanium and nickel-based forgings, fastening systems and wheels for commercial vehicles.