Howmet Aerospace (NYSE:HWM) Hits New 52-Week High – Here’s What Happened

Shares of Howmet Aerospace Inc. (NYSE:HWM) hit a new 52-week high on Tuesday . The stock traded as high as $128.95 and last traded at $126.95, with a volume of 11484 shares. The stock had previously closed at $125.30.

Analyst Ratings Changes

HWM has been the subject of a number of research reports. Truist Financial increased their price objective on Howmet Aerospace from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Susquehanna increased their price target on shares of Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research note on Thursday, November 7th. UBS Group boosted their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Barclays raised their target price on shares of Howmet Aerospace from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada boosted their price target on Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One equities 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 stock has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Howmet Aerospace Price Performance

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 firm’s fifty day moving average price is $114.99 and its two-hundred day moving average price is $102.17. The stock has a market capitalization of $51.70 billion, a PE ratio of 48.57, a PEG ratio of 1.41 and a beta of 1.49.

Hedge Funds Weigh In On Howmet Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of HWM. RiverPark Advisors LLC purchased a new position in Howmet Aerospace during the third quarter valued at $26,000. Hollencrest Capital Management bought a new position in shares of Howmet Aerospace in the third quarter worth approximately $30,000. Global Trust Asset Management LLC bought a new stake in Howmet Aerospace during the 4th quarter valued at approximately $33,000. ORG Partners LLC purchased a new position in shares of Howmet Aerospace in the fourth quarter worth $44,000. Finally, Assetmark Inc. boosted its holdings in shares of Howmet Aerospace by 40.0% during the 3rd quarter. Assetmark Inc. now owns 441 shares of the company’s stock valued at $44,000 after purchasing an additional 126 shares during the last quarter. 90.46% of the stock is currently owned by hedge funds and other 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.