Sanford C. Bernstein Boosts Howmet Aerospace (NYSE:HWM) Price Target to $127.00

Howmet Aerospace (NYSE:HWM) had its target price lifted by Sanford C. Bernstein from $113.00 to $127.00 in a research note released on Monday, Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages also recently commented on HWM. Barclays raised their target price on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Benchmark raised their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. Royal Bank of Canada boosted their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and an average target price of $101.50.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $100.62 on Monday. The firm has a fifty day moving average of $98.58 and a 200-day moving average of $86.12. Howmet Aerospace has a 52-week low of $42.94 and a 52-week high of $106.93. 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 firm has a market capitalization of $41.07 billion, a P/E ratio of 48.61, a PEG ratio of 1.51 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last announced 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 return on equity of 23.02% and a net margin of 13.15%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the firm earned $0.44 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, analysts predict that Howmet Aerospace will post 2.59 EPS for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.32%. Howmet Aerospace’s dividend payout ratio (DPR) is 15.46%.

Insiders Place Their Bets

In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. This trade 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.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds and other institutional investors have recently made changes to their positions in HWM. Lone Pine Capital LLC bought a new stake in Howmet Aerospace during the 2nd quarter valued at $284,539,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Howmet Aerospace by 28.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after purchasing an additional 3,158,186 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Howmet Aerospace by 18.7% during the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock valued at $1,223,358,000 after purchasing an additional 2,813,911 shares in the last quarter. TD Asset Management Inc lifted its holdings in Howmet Aerospace by 986.0% in the first quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock worth $184,586,000 after purchasing an additional 2,449,057 shares during the period. Finally, Capital Research Global Investors acquired a new stake in Howmet Aerospace in the first quarter worth about $148,996,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

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.