Howmet Aerospace (NYSE:HWM) PT Raised to $90.00 at KeyCorp

Howmet Aerospace (NYSE:HWM) had its price objective raised by KeyCorp from $70.00 to $90.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on HWM. Wells Fargo & Company increased their target price on Howmet Aerospace from $72.00 to $88.00 and gave the company an overweight rating in a research note on Monday, May 6th. Benchmark reiterated a buy rating and issued a $53.00 price objective on shares of Howmet Aerospace in a research report on Friday, April 19th. The Goldman Sachs Group raised their price objective on Howmet Aerospace from $77.00 to $87.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Truist Financial raised their price objective on Howmet Aerospace from $74.00 to $88.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Finally, UBS Group raised their price objective on Howmet Aerospace from $57.00 to $66.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $75.00.

Howmet Aerospace Stock Performance

Shares of NYSE HWM opened at $84.68 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97. The firm has a market cap of $34.56 billion, a price-to-earnings ratio of 40.91, a P/E/G ratio of 1.55 and a beta of 1.41. The business’s 50-day simple moving average is $73.03 and its 200-day simple moving average is $63.11. Howmet Aerospace has a 52 week low of $42.17 and a 52 week high of $85.52.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities research analysts expect that Howmet Aerospace will post 2.39 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Friday, May 10th were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. Howmet Aerospace’s dividend payout ratio is 9.66%.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the sale, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the company. Headinvest LLC acquired a new stake in shares of Howmet Aerospace in the 3rd quarter valued at $30,000. Whittier Trust Co. increased its stake in shares of Howmet Aerospace by 81.4% in the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after buying an additional 228 shares during the period. Lindbrook Capital LLC increased its stake in shares of Howmet Aerospace by 34.4% in the 4th quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock valued at $48,000 after buying an additional 229 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Howmet Aerospace by 62.9% in the 4th quarter. Quadrant Capital Group LLC now owns 976 shares of the company’s stock valued at $53,000 after buying an additional 377 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Howmet Aerospace by 33.1% in the 4th quarter. Blue Trust Inc. now owns 1,089 shares of the company’s stock valued at $59,000 after buying an additional 271 shares during the period. 90.46% of the stock is owned by institutional investors and hedge funds.

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.