Howmet Aerospace (NYSE:HWM) PT Raised to $105.00

Howmet Aerospace (NYSE:HWM) had its price objective lifted by Royal Bank of Canada from $90.00 to $105.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other analysts have also recently issued reports on the company. Barclays increased their target price on Howmet Aerospace from $65.00 to $85.00 and gave the company an overweight rating in a research report on Monday, May 6th. Robert W. Baird increased their price objective on Howmet Aerospace from $84.00 to $113.00 and gave the company an outperform rating in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Howmet Aerospace from $72.00 to $88.00 and gave the stock an overweight rating in a research report on Monday, May 6th. Northcoast Research reissued a sell rating and issued a $70.00 price objective on shares of Howmet Aerospace in a report on Friday, June 14th. Finally, Truist Financial increased their price target on shares of Howmet Aerospace from $88.00 to $105.00 and gave the stock a buy rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace currently has a consensus rating of Moderate Buy and a consensus price target of $84.00.

Howmet Aerospace Stock Up 2.0 %

Shares of NYSE:HWM opened at $95.70 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.97 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $81.62 and its 200 day moving average is $71.62. The stock has a market cap of $39.06 billion, a P/E ratio of 46.23, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. Howmet Aerospace has a 52-week low of $42.94 and a 52-week high of $96.93.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the company posted $0.44 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. Sell-side analysts predict that Howmet Aerospace will post 2.39 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.33%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, August 9th. Howmet Aerospace’s dividend payout ratio is presently 9.66%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Howmet Aerospace

A number of large investors have recently made changes to their positions in the stock. Cigna Investments Inc. New increased its stake in shares of Howmet Aerospace by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock worth $324,000 after acquiring an additional 153 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Howmet Aerospace by 3.2% in the 1st quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock valued at $348,000 after purchasing an additional 158 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Howmet Aerospace by 4.9% during the 2nd quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock worth $284,000 after buying an additional 171 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in Howmet Aerospace by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 4,571 shares of the company’s stock valued at $247,000 after acquiring an additional 200 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Howmet Aerospace by 10.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,259 shares of the company’s stock worth $122,000 after acquiring an additional 205 shares during the period. 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.