Howmet Aerospace (NYSE:HWM) Price Target Raised to $88.00

Howmet Aerospace (NYSE:HWM) had its target price raised by Wells Fargo & Company from $72.00 to $88.00 in a report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts have also issued reports about the stock. KeyCorp raised their price objective on shares of Howmet Aerospace from $60.00 to $70.00 and gave the company an overweight rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their target price on Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. Benchmark restated a buy rating and set a $53.00 price objective on shares of Howmet Aerospace in a research report on Friday, April 19th. UBS Group upped their target price on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Finally, 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 research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $73.67.

Howmet Aerospace Stock Performance

Shares of NYSE HWM opened at $81.42 on Monday. The stock has a market cap of $33.23 billion, a price-to-earnings ratio of 39.33, a P/E/G ratio of 1.89 and a beta of 1.41. The stock’s 50-day moving average is $67.26 and its 200 day moving average is $58.67. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86. Howmet Aerospace has a 1-year low of $42.17 and a 1-year high of $81.47.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Howmet Aerospace will post 2.37 EPS 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. Stockholders of record on Friday, May 10th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 9.66%.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were 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 owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Hedge funds and other institutional investors have recently modified their holdings of the business. Commonwealth Equity Services LLC increased its stake in shares of Howmet Aerospace by 18.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 47,733 shares of the company’s stock worth $2,208,000 after acquiring an additional 7,534 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Howmet Aerospace by 3.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 28,617 shares of the company’s stock worth $1,324,000 after purchasing an additional 874 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Howmet Aerospace by 54.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 55,686 shares of the company’s stock valued at $2,575,000 after purchasing an additional 19,709 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Howmet Aerospace by 2.6% in the 3rd quarter. Mackenzie Financial Corp now owns 33,640 shares of the company’s stock valued at $1,531,000 after buying an additional 863 shares during the period. Finally, IFM Investors Pty Ltd increased its holdings in shares of Howmet Aerospace by 7.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 84,851 shares of the company’s stock worth $3,924,000 after buying an additional 6,059 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

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.