Barclays Raises Howmet Aerospace (NYSE:HWM) Price Target to $85.00

Howmet Aerospace (NYSE:HWM) had its price objective increased by Barclays from $65.00 to $85.00 in a report issued on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on HWM. Royal Bank of Canada boosted their price objective on shares of Howmet Aerospace from $75.00 to $90.00 and gave the company an outperform rating in a report on Friday, May 3rd. Wells Fargo & Company raised their price objective on Howmet Aerospace from $72.00 to $88.00 and gave the stock an overweight rating in a research note on Monday. KeyCorp upped their target price on Howmet Aerospace from $60.00 to $70.00 and gave the company an overweight rating in a research report on Wednesday, February 21st. Truist Financial boosted their price target on Howmet Aerospace from $74.00 to $88.00 and gave the company a buy rating in a research note on Friday, May 3rd. Finally, Benchmark reiterated a buy rating and set a $53.00 price objective on shares of Howmet Aerospace in a research note on Friday, April 19th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $73.67.

Howmet Aerospace Trading Up 2.0 %

Shares of NYSE:HWM opened at $81.42 on Monday. Howmet Aerospace has a 12-month low of $42.17 and a 12-month high of $81.47. The business has a 50 day moving average of $67.26 and a 200-day moving average of $58.67. The company has a quick ratio of 0.92, a current ratio of 1.97 and a debt-to-equity ratio of 0.86. The stock has a market cap of $33.23 billion, a PE ratio of 39.33, a P/E/G ratio of 1.89 and a beta of 1.41.

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

Howmet Aerospace Dividend Announcement

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

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

A number of institutional investors and hedge funds have recently bought and sold shares of HWM. TD Asset Management Inc boosted its stake in shares of Howmet Aerospace by 986.0% during the first quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock valued at $184,586,000 after purchasing an additional 2,449,057 shares in the last quarter. Sheets Smith Wealth Management boosted its position in Howmet Aerospace by 44.7% during the 1st quarter. Sheets Smith Wealth Management now owns 6,532 shares of the company’s stock worth $447,000 after buying an additional 2,018 shares during the period. Bleakley Financial Group LLC grew its holdings in Howmet Aerospace by 3.2% during the 1st quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock worth $348,000 after acquiring an additional 158 shares during the last quarter. Avantax Advisory Services Inc. acquired a new position in Howmet Aerospace in the 1st quarter valued at approximately $259,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Howmet Aerospace by 37.6% during the first quarter. Russell Investments Group Ltd. now owns 270,300 shares of the company’s stock valued at $18,497,000 after acquiring an additional 73,908 shares during the last quarter. Institutional investors and hedge funds 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.