Howmet Aerospace (NYSE:HWM) PT Raised to $87.00

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

A number of other equities research analysts also recently weighed in on HWM. Barclays boosted their price objective on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. JPMorgan Chase & Co. lifted their price objective on shares of Howmet Aerospace from $55.00 to $60.00 and gave the company an overweight rating in a research note on Wednesday, February 14th. Royal Bank of Canada raised their target price on shares of Howmet Aerospace from $75.00 to $90.00 and gave the company an outperform rating in a research note on Friday. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a research note on Friday, January 5th. They issued an outperform rating and a $67.00 price target for the company. Finally, Robert W. Baird boosted their target price on Howmet Aerospace from $74.00 to $84.00 and gave the stock an outperform rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $69.77.

Howmet Aerospace Stock Up 2.3 %

HWM stock traded up $1.79 during mid-day trading on Friday, hitting $78.89. 6,147,936 shares of the company were exchanged, compared to its average volume of 3,546,927. The firm has a fifty day simple moving average of $66.70 and a 200 day simple moving average of $57.97. The company has a market capitalization of $32.22 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41. Howmet Aerospace has a twelve month low of $42.17 and a twelve month high of $79.47. The company has a current ratio of 1.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the business earned $0.42 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. On average, research analysts forecast that Howmet Aerospace will post 2.35 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Venturi Wealth Management LLC boosted its position in Howmet Aerospace by 61.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock worth $26,000 after acquiring an additional 212 shares during the period. Headinvest LLC purchased a new stake in shares of Howmet Aerospace in the third quarter worth approximately $30,000. Whittier Trust Co. boosted its holdings in shares of Howmet Aerospace by 81.4% during the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares during the period. 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 purchasing an additional 229 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Howmet Aerospace by 62.9% in the 4th quarter. Quadrant Capital Group LLC now owns 976 shares of the company’s stock valued at $53,000 after buying an additional 377 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Company Profile

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.