Howmet Aerospace (NYSE:HWM) Shares Break Above Fifty Day Moving Average – Here’s What Happened

Howmet Aerospace Inc. (NYSE:HWM) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $221.28 and traded as high as $225.58. Howmet Aerospace shares last traded at $223.6610, with a volume of 3,000,669 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HWM shares. Weiss Ratings upgraded Howmet Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, August 10th. KeyCorp raised Howmet Aerospace from a “sector weight” rating to an “overweight” rating and set a $237.00 price target for the company in a report on Tuesday, November 3rd. UBS Group reduced their price target on shares of Howmet Aerospace from $255.00 to $230.00 and set a “neutral” rating on the stock in a research report on Friday, October 30th. Finally, Zacks Research lowered shares of Howmet Aerospace from a “strong-buy” rating to a “hold” rating in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $295.81.

Howmet Aerospace Stock Up 2.1%

The firm’s 50 day moving average price is $221.28 and its 200-day moving average price is $248.23. The company has a current ratio of 1.86, a quick ratio of 0.90 and a debt-to-equity ratio of 0.70. The company has a market cap of $88.94 billion, a P/E ratio of 43.77, a price-to-earnings-growth ratio of 1.60 and a beta of 1.31.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, October 29th. The company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.09. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The business had revenue of $2.70 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. Howmet Aerospace’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, equities research analysts expect that Howmet Aerospace Inc. will post 5.49 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 6th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, November 6th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.3%. Howmet Aerospace’s dividend payout ratio is 10.96%.

Institutional Investors Weigh In On Howmet Aerospace

A number of institutional investors have recently made changes to their positions in the stock. West Paces Advisors Inc. acquired a new position in Howmet Aerospace in the second quarter valued at about $27,000. Bartlett & CO. Wealth Management LLC grew its position in shares of Howmet Aerospace by 55.1% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 107 shares of the company’s stock worth $29,000 after buying an additional 38 shares during the period. Markowski Investments bought a new stake in shares of Howmet Aerospace in the 2nd quarter valued at about $29,000. Reyes Financial Architecture Inc. acquired a new stake in shares of Howmet Aerospace in the 3rd quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC boosted its stake in Howmet Aerospace by 328.1% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 137 shares of the company’s stock worth $31,000 after acquiring an additional 105 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Company Profile

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks. The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.