Argus Boosts Howmet Aerospace (NYSE:HWM) Price Target to $90.00

Howmet Aerospace (NYSE:HWM) had its price target lifted by Argus from $75.00 to $90.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on the company. KeyCorp lifted their price target on Howmet Aerospace from $60.00 to $70.00 and gave the stock an overweight rating in a research report on Wednesday, February 21st. Benchmark reiterated a buy rating and issued a $53.00 target price on shares of Howmet Aerospace in a research report on Friday, April 19th. The Goldman Sachs Group raised their price target on shares of Howmet Aerospace from $77.00 to $87.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Wells Fargo & Company upped their price objective on shares of Howmet Aerospace from $72.00 to $88.00 and gave the company an overweight rating in a report on Monday. Finally, UBS Group raised their target price on shares of Howmet Aerospace from $57.00 to $66.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $73.67.

Howmet Aerospace Price Performance

Shares of HWM stock opened at $81.42 on Monday. Howmet Aerospace has a fifty-two week low of $42.17 and a fifty-two week high of $81.47. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97. The firm has a market capitalization of $33.23 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 1.89 and a beta of 1.41. The stock’s 50-day simple moving average is $67.26 and its 200-day simple moving average is $58.67.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business earned $0.42 EPS. Howmet Aerospace’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, equities analysts forecast that Howmet Aerospace will post 2.37 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm 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 $0.05 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. Howmet Aerospace’s payout ratio is 9.66%.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the sale, the executive vice president now directly 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 is available through the SEC website. Corporate insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of HWM. Bleakley Financial Group LLC raised its stake in Howmet Aerospace by 3.2% during the first quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock worth $348,000 after purchasing an additional 158 shares during the period. Valeo Financial Advisors LLC lifted its holdings in Howmet Aerospace by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 4,571 shares of the company’s stock valued at $247,000 after acquiring an additional 200 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Howmet Aerospace by 10.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,259 shares of the company’s stock worth $122,000 after acquiring an additional 205 shares during the period. Venturi Wealth Management LLC grew its position in Howmet Aerospace by 61.3% in the third 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. Finally, Whittier Trust Co. increased its stake in 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 acquiring an additional 228 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

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.