Howmet Aerospace (NYSE:HWM) Price Target Raised to $88.00 at Truist Financial

Howmet Aerospace (NYSE:HWM) had its price objective upped by Truist Financial from $74.00 to $88.00 in a report published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the company. The Goldman Sachs Group upped their target price on Howmet Aerospace from $65.00 to $77.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. lifted their target price on shares of Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. Benchmark reissued a buy rating and issued a $53.00 price target on shares of Howmet Aerospace in a research note on Friday, April 19th. Robert W. Baird raised their price objective on Howmet Aerospace from $74.00 to $84.00 and gave the company an outperform rating in a research note on Friday. Finally, KeyCorp boosted their target price on Howmet Aerospace from $60.00 to $70.00 and gave the company an overweight rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Howmet Aerospace has an average rating of Moderate Buy and an average price target of $69.77.

Howmet Aerospace Price Performance

Shares of NYSE HWM traded up $1.79 during mid-day trading on Friday, reaching $78.89. 6,147,936 shares of the company were exchanged, compared to its average volume of 3,546,927. Howmet Aerospace has a 52 week low of $42.17 and a 52 week high of $79.47. The company’s 50 day moving average price is $66.70 and its 200 day moving average price is $57.97. The stock has a market capitalization of $32.22 billion, a PE ratio of 38.11, a PEG ratio of 1.86 and a beta of 1.41. The company has a quick ratio of 0.87, a current ratio of 1.97 and a debt-to-equity ratio of 0.86.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. Sell-side analysts forecast that Howmet Aerospace will post 2.35 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 9.66%.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the transaction, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.12% of the stock is currently owned by insiders.

Institutional Trading of Howmet Aerospace

Institutional investors and hedge funds have recently bought and sold shares of the stock. AE Wealth Management LLC bought a new stake in shares of Howmet Aerospace during the third quarter valued at approximately $262,000. Commonwealth Equity Services LLC lifted its holdings in shares of Howmet Aerospace by 18.7% during the third quarter. Commonwealth Equity Services LLC now owns 47,733 shares of the company’s stock valued at $2,208,000 after purchasing an additional 7,534 shares during the last quarter. Chevy Chase Trust Holdings LLC boosted its position in shares of Howmet Aerospace by 4.0% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 220,120 shares of the company’s stock worth $10,181,000 after purchasing an additional 8,516 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Howmet Aerospace by 3.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 28,617 shares of the company’s stock worth $1,324,000 after buying an additional 874 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Howmet Aerospace by 54.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 55,686 shares of the company’s stock valued at $2,575,000 after buying an additional 19,709 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

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.