Howmet Aerospace (NYSE:HWM) Price Target Raised to $105.00

Howmet Aerospace (NYSE:HWM) had its target price boosted by KeyCorp from $90.00 to $105.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an overweight rating in a research report on Wednesday. Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an outperform rating in a research report on Wednesday. Robert W. Baird upped their target price on shares of Howmet Aerospace from $84.00 to $113.00 and gave the stock an outperform rating in a research report on Wednesday. Northcoast Research reissued a sell rating and issued a $70.00 price target on shares of Howmet Aerospace in a research note on Friday, June 14th. Finally, Truist Financial boosted their price target on shares of Howmet Aerospace from $88.00 to $105.00 and gave the stock a buy rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $88.33.

Howmet Aerospace Stock Down 5.0 %

HWM opened at $90.16 on Thursday. The company has a fifty day moving average price of $81.98 and a 200-day moving average price of $72.15. The firm has a market capitalization of $36.80 billion, a P/E ratio of 43.56, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.92. Howmet Aerospace has a one year low of $42.94 and a one year high of $97.29.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts expect that Howmet Aerospace will post 2.6 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, August 9th. Howmet Aerospace’s dividend payout ratio is 15.46%.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 32,614 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the completion of the transaction, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at $18,342,306.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cigna Investments Inc. New increased its position in shares of Howmet Aerospace by 3.8% during the second quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock valued at $324,000 after buying an additional 153 shares during the period. Bleakley Financial Group LLC increased its position in shares of Howmet Aerospace by 3.2% during the first quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock valued at $348,000 after buying an additional 158 shares during the period. HB Wealth Management LLC increased its position in shares of Howmet Aerospace by 4.9% during the second quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock valued at $284,000 after buying an additional 171 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Howmet Aerospace by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 4,571 shares of the company’s stock valued at $247,000 after buying an additional 200 shares during the period. Finally, Geneos Wealth Management Inc. increased its position in shares of Howmet Aerospace by 10.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,259 shares of the company’s stock valued at $122,000 after buying an additional 205 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

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.