Howmet Aerospace (NYSE:HWM) Downgraded by KeyCorp

Howmet Aerospace (NYSE:HWM) was downgraded by stock analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research note issued to investors on Thursday, Marketbeat.com reports.

HWM has been the subject of a number of other reports. Truist Financial increased their price target on Howmet Aerospace from $105.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Susquehanna assumed coverage on Howmet Aerospace in a research report on Tuesday, October 8th. They set a “positive” rating and a $120.00 target price for the company. BTIG Research lifted their target price on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their price target on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada raised their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average target price of $101.50.

Howmet Aerospace Price Performance

HWM opened at $102.83 on Thursday. The firm’s fifty day moving average price is $98.58 and its two-hundred day moving average price is $86.12. The company has a market capitalization of $41.97 billion, a price-to-earnings ratio of 49.68, a P/E/G ratio of 1.51 and a beta of 1.46. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. Howmet Aerospace has a 1 year low of $42.94 and a 1 year high of $106.93.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $0.44 earnings per share. As a group, analysts anticipate that Howmet Aerospace will post 2.59 earnings per share for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV raised its holdings in shares of Howmet Aerospace by 6.8% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,944 shares of the company’s stock valued at $195,000 after acquiring an additional 124 shares in the last quarter. Cigna Investments Inc. New increased its stake in Howmet Aerospace by 3.8% in the second quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock valued at $324,000 after acquiring an additional 153 shares during the last quarter. Bleakley Financial Group LLC raised its position in Howmet Aerospace by 3.2% during the first 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 in the last quarter. HB Wealth Management LLC lifted its stake in Howmet Aerospace by 4.9% during the second quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock worth $284,000 after purchasing an additional 171 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Howmet Aerospace by 7.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,609 shares of the company’s stock worth $203,000 after purchasing an additional 178 shares in the last quarter. 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.