Howmet Aerospace (NYSE:HWM) PT Raised to $87.00

Howmet Aerospace (NYSE:HWM) had its price target boosted by The Goldman Sachs Group from $77.00 to $87.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 10.29% from the stock’s current price.

A number of other analysts also recently weighed in on HWM. Robert W. Baird increased their price objective on Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday. Benchmark reiterated a “buy” rating and issued a $53.00 target price on shares of Howmet Aerospace in a report on Friday, April 19th. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a report on Friday, January 5th. They set an “outperform” rating and a $67.00 price target for the company. Truist Financial upped their price objective on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada lifted their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $69.77.

Howmet Aerospace Price Performance

HWM traded up $1.78 on Friday, hitting $78.88. 6,147,895 shares of the stock were exchanged, compared to its average volume of 3,471,711. Howmet Aerospace has a 12 month low of $42.17 and a 12 month high of $79.47. The business has a 50-day moving average of $66.44 and a two-hundred day moving average of $57.73. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.86 and a quick ratio of 0.87. The firm has a market capitalization of $32.21 billion, a price-to-earnings ratio of 43.22, a PEG ratio of 1.74 and a beta of 1.41.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the firm posted $0.42 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. Sell-side analysts forecast that Howmet Aerospace will post 2.18 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the transaction, the executive vice president now directly owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Howmet Aerospace

Several large investors have recently bought and sold shares of HWM. Norges Bank bought a new position in Howmet Aerospace during the 4th quarter valued at $508,006,000. JPMorgan Chase & Co. increased its position in shares of Howmet Aerospace by 118.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock valued at $612,307,000 after purchasing an additional 7,184,620 shares during the last quarter. FMR LLC increased its position in shares of Howmet Aerospace by 21.2% during the 3rd quarter. FMR LLC now owns 15,086,149 shares of the company’s stock valued at $697,734,000 after purchasing an additional 2,635,894 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Howmet Aerospace by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after purchasing an additional 1,274,974 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Howmet Aerospace by 41.3% during the 4th quarter. Capital World Investors now owns 3,507,255 shares of the company’s stock valued at $189,813,000 after purchasing an additional 1,025,102 shares during the last quarter. 90.46% of the stock is currently owned by 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.