Benchmark Raises Howmet Aerospace (NYSE:HWM) Price Target to $85.00

Howmet Aerospace (NYSE:HWM) had its price objective raised by Benchmark from $53.00 to $85.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. KeyCorp increased their price target on Howmet Aerospace from $70.00 to $90.00 and gave the stock an overweight rating in a report on Tuesday, May 28th. Truist Financial increased their price target on Howmet Aerospace from $74.00 to $88.00 and gave the stock a buy rating in a report on Friday, May 3rd. Northcoast Research restated a sell rating and set a $70.00 price target on shares of Howmet Aerospace in a report on Friday, June 14th. Argus increased their target price on Howmet Aerospace from $75.00 to $90.00 and gave the stock a buy rating in a report on Monday, May 6th. Finally, Royal Bank of Canada increased their target price on Howmet Aerospace from $75.00 to $90.00 and gave the stock an outperform rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $77.76.

Howmet Aerospace Stock Performance

Shares of HWM stock opened at $79.23 on Friday. The business’s 50 day simple moving average is $81.45 and its 200 day simple moving average is $69.13. Howmet Aerospace has a one year low of $42.94 and a one year high of $85.52. The stock has a market capitalization of $32.34 billion, a PE ratio of 38.28, a PEG ratio of 1.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.92.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 EPS. As a group, research analysts forecast that Howmet Aerospace will post 2.39 earnings per share for the current year.

Howmet Aerospace Announces Dividend

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

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 32,614 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the completion of the sale, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at approximately $18,342,306.62. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

Several large investors have recently added to or reduced their stakes in HWM. Norges Bank purchased a new stake in Howmet Aerospace in the 4th quarter worth about $508,006,000. Price T Rowe Associates Inc. MD increased its holdings in Howmet Aerospace by 28.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after acquiring an additional 3,158,186 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Howmet Aerospace by 18.7% in the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after acquiring an additional 2,813,911 shares during the last quarter. TD Asset Management Inc increased its holdings in Howmet Aerospace by 986.0% in the 1st quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock worth $184,586,000 after acquiring an additional 2,449,057 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in Howmet Aerospace during the 1st quarter valued at about $148,996,000. 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.