Howmet Aerospace (NYSE:HWM) Sets New 12-Month High After Analyst Upgrade

Howmet Aerospace Inc. (NYSE:HWM)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $100.00 to $135.00. Bank of America currently has a buy rating on the stock. Howmet Aerospace traded as high as $116.53 and last traded at $116.53, with a volume of 1178 shares traded. The stock had previously closed at $113.58.

Several other research analysts have also issued reports on HWM. 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, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Truist Financial upped their target price 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. Wells Fargo & Company upped their target price on shares of Howmet Aerospace from $113.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Royal Bank of Canada upped their target price on shares of 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.41.

Insider Activity

In other news, 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 completion of the transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 49.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction dated 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 directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This trade represents a 43.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Institutional investors have recently bought and sold shares of the stock. Cultivar Capital Inc. bought a new position in Howmet Aerospace in the second quarter worth about $26,000. RiverPark Advisors LLC bought a new position in Howmet Aerospace in the third quarter worth about $26,000. LGT Financial Advisors LLC raised its stake in Howmet Aerospace by 278.7% in the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after buying an additional 262 shares in the last quarter. Hollencrest Capital Management bought a new position in Howmet Aerospace in the third quarter worth about $30,000. Finally, Rothschild Investment LLC bought a new position in Howmet Aerospace in the second quarter worth about $32,000. 90.46% of the stock is owned by institutional investors.

Howmet Aerospace Trading Down 2.2 %

The company has a market capitalization of $46.01 billion, a P/E ratio of 43.39, a P/E/G ratio of 1.54 and a beta of 1.46. The stock’s 50 day moving average is $101.58 and its 200-day moving average is $90.48. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.24 and a quick ratio of 0.98.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is currently 12.21%.

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.