Brokerages Set Howmet Aerospace Inc. (NYSE:HWM) Price Target at $97.75

Shares of Howmet Aerospace Inc. (NYSE:HWM) have received an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $101.50.

A number of equities analysts have issued reports on HWM shares. Robert W. Baird increased their target price on Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial lifted their target price on Howmet Aerospace from $105.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Benchmark lifted their price objective on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Barclays boosted their price objective on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th.

Howmet Aerospace Trading Down 3.5 %

NYSE:HWM opened at $102.65 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 business’s 50-day simple moving average is $98.40 and its 200-day simple moving average is $86.01. Howmet Aerospace has a fifty-two week low of $42.94 and a fifty-two week high of $106.93. The stock has a market capitalization of $41.90 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. Sell-side analysts expect that Howmet Aerospace will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm 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 dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s dividend payout ratio is 15.46%.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value 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 $8,985,077.78. 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 can be accessed through this link. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

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