Howmet Aerospace (NYSE:HWM) PT Raised to $123.00 at Truist Financial

Howmet Aerospace (NYSE:HWM) had its price objective increased by Truist Financial from $105.00 to $123.00 in a research note published on Friday morning, MarketBeat Ratings reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their target price on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Benchmark boosted their target price on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Susquehanna started coverage on shares of Howmet Aerospace in a research note on Tuesday, October 8th. They set a “positive” rating and a $120.00 price target for the company. Barclays upped their price objective on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Robert W. Baird raised their target price on Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $97.75.

Howmet Aerospace Stock Performance

Shares of HWM stock opened at $105.54 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The firm has a 50-day moving average of $97.95 and a 200-day moving average of $85.47. Howmet Aerospace has a one year low of $42.94 and a one year high of $106.76. The company has a market cap of $43.08 billion, a P/E ratio of 50.99, a P/E/G ratio of 1.51 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 EPS. Equities research analysts forecast that Howmet Aerospace will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is 15.46%.

Insider Transactions at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This represents a 0.00 % 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.

Institutional Investors Weigh In On Howmet Aerospace

A number of large investors have recently added to or reduced their stakes in the company. Senator Investment Group LP boosted its holdings in shares of Howmet Aerospace by 24.8% in the 2nd quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock worth $12,110,000 after purchasing an additional 31,000 shares in the last quarter. Terra Nova Asset Management LLC bought a new stake in Howmet Aerospace in the 3rd quarter worth approximately $1,264,000. Wealthspire Advisors LLC purchased a new stake in Howmet Aerospace in the second quarter worth approximately $209,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Howmet Aerospace by 1,258.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock worth $206,000 after buying an additional 1,900 shares in the last quarter. Finally, Blair William & Co. IL grew its position in Howmet Aerospace by 51.6% during the first quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock valued at $1,744,000 after acquiring an additional 8,676 shares during the last quarter. Hedge funds and other 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.