Howmet Aerospace (NYSE:HWM) Price Target Increased to $123.00 by Analysts at Truist Financial

Howmet Aerospace (NYSE:HWM) had its target price upped by Truist Financial from $105.00 to $123.00 in a research report report published on Friday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. KeyCorp boosted their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Barclays upped their price target on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. BTIG Research lifted their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Robert W. Baird upped their target price on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Howmet Aerospace has an average rating of “Moderate Buy” and a consensus target price of $97.75.

Howmet Aerospace Price Performance

NYSE HWM opened at $105.54 on Friday. The firm’s 50 day moving average is $97.95 and its 200-day moving average is $85.19. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $43.08 billion, a PE ratio of 51.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. Howmet Aerospace has a 12-month low of $42.94 and a 12-month high of $106.76.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the business earned $0.44 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that Howmet Aerospace will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s dividend payout ratio is currently 15.46%.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Cultivar Capital Inc. acquired a new position in shares of Howmet Aerospace during the 2nd quarter worth $26,000. LGT Financial Advisors LLC boosted its stake in shares of Howmet Aerospace by 278.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after purchasing an additional 262 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Howmet Aerospace during the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc increased its position in Howmet Aerospace by 1,209.1% during the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after purchasing an additional 399 shares in the last quarter. Finally, Whittier Trust Co. lifted its stake in Howmet Aerospace by 81.4% in the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after purchasing an additional 228 shares during the last quarter. 90.46% of the stock is owned by 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.