Howmet Aerospace (NYSE:HWM) PT Raised to $127.00

Howmet Aerospace (NYSE:HWM) had its price target lifted by investment analysts at Sanford C. Bernstein from $113.00 to $127.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Sanford C. Bernstein’s price objective suggests a potential upside of 19.52% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Barclays lifted their price target on shares of Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Benchmark upped their price objective on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Robert W. Baird upped their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada upped their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Truist Financial upped their price objective on shares of Howmet Aerospace from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $101.50.

Howmet Aerospace Stock Up 0.7 %

Howmet Aerospace stock traded up $0.72 during mid-day trading on Monday, reaching $106.26. The company’s stock had a trading volume of 844,857 shares, compared to its average volume of 2,977,498. The company has a market capitalization of $43.37 billion, a price-to-earnings ratio of 51.19, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. Howmet Aerospace has a 12 month low of $42.94 and a 12 month high of $106.93. The business’s 50 day simple moving average is $97.95 and its 200 day simple moving average is $85.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. As a group, research analysts anticipate that Howmet Aerospace will post 2.59 earnings per share for the current year.

Insider Activity

In related news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the transaction, the executive vice president now owns 92,687 shares in the company, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HWM. Lone Pine Capital LLC acquired a new position in Howmet Aerospace during the second quarter worth $284,539,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Howmet Aerospace by 28.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after purchasing an additional 3,158,186 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Howmet Aerospace by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock valued at $1,223,358,000 after purchasing an additional 2,813,911 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of Howmet Aerospace by 986.0% in the first quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock valued at $184,586,000 after purchasing an additional 2,449,057 shares during the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Howmet Aerospace in the first quarter valued at about $148,996,000. Institutional investors and hedge funds 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.