Howmet Aerospace (NYSE:HWM) Sets New 12-Month High on Analyst Upgrade

Howmet Aerospace Inc. (NYSE:HWM)’s share price reached a new 52-week high during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $100.00 to $135.00. Bank of America currently has a buy rating on the stock. Howmet Aerospace traded as high as $116.53 and last traded at $116.53, with a volume of 1178 shares trading hands. The stock had previously closed at $113.58.

HWM has been the topic of several other research reports. JPMorgan Chase & Co. upped their price target on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Truist Financial raised their price objective on Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. BTIG Research lifted their target price on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Susquehanna raised their price objective on shares of Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company increased their target price on shares of Howmet Aerospace from $113.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and an average target price of $115.41.

Insider Transactions at Howmet Aerospace

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

Hedge Funds Weigh In On Howmet Aerospace

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Howmet Aerospace by 18.7% in 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 period. Price T Rowe Associates Inc. MD lifted its stake 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 valued at $966,959,000 after purchasing an additional 3,158,186 shares in the last quarter. Lone Pine Capital LLC purchased a new stake in shares of Howmet Aerospace during the 2nd quarter worth about $284,539,000. TD Asset Management Inc increased its position in Howmet Aerospace by 16.9% during the 2nd quarter. TD Asset Management Inc now owns 3,152,629 shares of the company’s stock worth $244,739,000 after purchasing an additional 455,180 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Howmet Aerospace by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,305,249 shares of the company’s stock valued at $231,101,000 after buying an additional 114,457 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Trading Up 1.9 %

The business’s 50-day simple moving average is $101.15 and its two-hundred day simple moving average is $90.30. The stock has a market capitalization of $47.02 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 1.54 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.24 and a quick ratio of 0.98.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Howmet Aerospace’s dividend payout ratio is currently 12.21%.

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.