Royal Bank of Canada Forecasts Strong Price Appreciation for Howmet Aerospace (NYSE:HWM) Stock

Howmet Aerospace (NYSE:HWM) had its price target increased by research analysts at Royal Bank of Canada from $105.00 to $135.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 18.79% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Susquehanna raised their target price on shares of Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a report on Thursday. UBS Group boosted their price target on shares of Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday. BTIG Research raised their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Truist Financial boosted their target price on shares of Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.75.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $113.65 on Thursday. The company has a market capitalization of $46.39 billion, a PE ratio of 50.21, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The stock has a fifty day moving average of $100.04 and a 200-day moving average of $88.92. Howmet Aerospace has a one year low of $48.39 and a one year high of $115.38.

Insider Activity

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 value of $14,961,111.22. Following the completion of the sale, the chief financial officer now directly owns 155,135 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. This trade represents 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. Also, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction dated 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 transaction, 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 insiders.

Institutional Investors Weigh In On Howmet Aerospace

A number of institutional investors have recently added to or reduced their stakes in HWM. Lone Pine Capital LLC acquired a new position in Howmet Aerospace in the 2nd quarter valued at approximately $284,539,000. Price T Rowe Associates Inc. MD increased its position 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% in 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 position 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 during the first quarter worth $148,996,000. 90.46% of the stock is 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.