Howmet Aerospace (NYSE:HWM) Hits New 12-Month High – Should You Buy?

Howmet Aerospace Inc. (NYSE:HWM) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $119.40 and last traded at $118.70, with a volume of 338797 shares trading hands. The stock had previously closed at $117.69.

Wall Street Analyst Weigh In

HWM has been the subject of several recent research reports. Susquehanna upped their price objective on Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research report on Thursday, November 7th. Truist Financial upped their price target on shares of Howmet Aerospace from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Robert W. Baird upped their target price on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, BTIG Research increased their price target on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.41.

Howmet Aerospace Trading Up 0.7 %

The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $48.14 billion, a P/E ratio of 44.92, a P/E/G ratio of 1.59 and a beta of 1.48. The business has a 50-day moving average price of $106.73 and a two-hundred day moving average price of $93.85.

Howmet Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, November 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 12.21%.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp grew its stake in shares of Howmet Aerospace by 2.3% during the third quarter. State Street Corp now owns 17,440,176 shares of the company’s stock worth $1,748,378,000 after buying an additional 384,171 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Howmet Aerospace by 5.0% during the 3rd quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock valued at $949,382,000 after acquiring an additional 453,275 shares in the last quarter. Lone Pine Capital LLC bought a new stake in Howmet Aerospace during the 2nd quarter worth $284,539,000. TD Asset Management Inc increased its holdings in Howmet Aerospace by 16.9% in the 2nd quarter. TD Asset Management Inc now owns 3,152,629 shares of the company’s stock worth $244,739,000 after purchasing an additional 455,180 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Howmet Aerospace by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,305,249 shares of the company’s stock valued at $231,101,000 after purchasing an additional 114,457 shares during the last quarter. Institutional investors 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.