Howmet Aerospace (NYSE:HWM) Price Target Raised to $135.00 at Bank of America

Howmet Aerospace (NYSE:HWM) had its target price lifted by Bank of America from $100.00 to $135.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 18.88% from the stock’s previous close.

HWM has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on shares of Howmet Aerospace from $113.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday. UBS Group boosted their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. KeyCorp cut shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, BTIG Research boosted their price target 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.41.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $113.56 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $46.13 billion, a PE ratio of 43.34, a P/E/G ratio of 1.56 and a beta of 1.46. The firm has a fifty day simple moving average of $101.15 and a two-hundred day simple moving average of $90.30. Howmet Aerospace has a twelve month low of $49.36 and a twelve month high of $115.98.

Insider Transactions at Howmet Aerospace

In other news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the transaction, the executive vice president now 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. Insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HWM. Headlands Technologies LLC bought a new position in Howmet Aerospace in the first quarter worth approximately $75,000. Russell Investments Group Ltd. raised its position in Howmet Aerospace by 37.6% in the first quarter. Russell Investments Group Ltd. now owns 270,300 shares of the company’s stock worth $18,497,000 after acquiring an additional 73,908 shares during the period. Avantax Advisory Services Inc. bought a new position in Howmet Aerospace in the first quarter worth approximately $259,000. Bleakley Financial Group LLC raised its position in Howmet Aerospace by 3.2% in the first quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock worth $348,000 after acquiring an additional 158 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Howmet Aerospace by 18.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 452,643 shares of the company’s stock worth $30,974,000 after acquiring an additional 69,662 shares during the period. 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.