Howmet Aerospace (NYSE:HWM) Price Target Raised to $115.00 at BTIG Research

Howmet Aerospace (NYSE:HWM) had its price target hoisted by BTIG Research from $95.00 to $115.00 in a report issued on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on HWM. Barclays lifted their price objective on Howmet Aerospace from $65.00 to $85.00 and gave the stock an overweight rating in a research note on Monday, May 6th. Robert W. Baird increased their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Benchmark upped their target price on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a buy rating in a research report on Friday, July 12th. Truist Financial lifted their price target on Howmet Aerospace from $88.00 to $105.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Finally, Northcoast Research restated a sell rating and set a $70.00 price objective on shares of Howmet Aerospace in a research report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $90.67.

Howmet Aerospace Price Performance

Shares of Howmet Aerospace stock traded up $2.35 on Monday, hitting $89.10. 3,274,219 shares of the company traded hands, compared to its average volume of 3,273,140. Howmet Aerospace has a 52 week low of $42.94 and a 52 week high of $97.29. The business has a 50-day simple moving average of $82.02 and a 200 day simple moving average of $72.51. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 1.53. The stock has a market capitalization of $36.37 billion, a P/E ratio of 43.04, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) 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 company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the firm posted $0.44 EPS. Howmet Aerospace’s revenue for the quarter was up 14.1% compared to the same quarter last year. Research analysts expect that Howmet Aerospace will post 2.6 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be issued a dividend of $0.08 per share. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.36%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 15.46%.

Insider Buying and Selling at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 32,614 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 217,687 shares of the company’s stock, valued at $18,342,306.62. 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 owned by corporate insiders.

Hedge Funds Weigh In On Howmet Aerospace

A number of large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in Howmet Aerospace during the fourth quarter valued at approximately $508,006,000. Price T Rowe Associates Inc. MD boosted its position in shares of 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 purchasing an additional 3,158,186 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Howmet Aerospace by 18.7% during the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after buying an additional 2,813,911 shares during the last quarter. TD Asset Management Inc increased its position in Howmet Aerospace by 986.0% during the 1st quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock valued at $184,586,000 after buying an additional 2,449,057 shares in the last quarter. Finally, Capital Research Global Investors acquired a new position in Howmet Aerospace during the 1st quarter valued at about $148,996,000. 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.