Howmet Aerospace (NYSE:HWM) Sets New 52-Week High After Analyst Upgrade

Howmet Aerospace Inc. (NYSE:HWM)’s stock price hit a new 52-week high during mid-day trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $124.00 to $139.00. The Goldman Sachs Group currently has a buy rating on the stock. Howmet Aerospace traded as high as $137.41 and last traded at $136.62, with a volume of 3218206 shares traded. The stock had previously closed at $133.42.

Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein boosted their price target on shares of Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Royal Bank of Canada upped their price objective on shares of Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird boosted their price target on shares of Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company boosted their price target on shares of Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Finally, Barclays boosted their price objective on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $121.41.

Institutional Trading of Howmet Aerospace

Hedge funds have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp purchased a new stake in Howmet Aerospace in the fourth quarter worth $25,000. Meeder Asset Management Inc. grew its position in shares of Howmet Aerospace by 208.1% in the fourth quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock valued at $25,000 after purchasing an additional 154 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Howmet Aerospace in the fourth quarter valued at $25,000. RiverPark Advisors LLC purchased a new position in shares of Howmet Aerospace in the third quarter valued at $26,000. Finally, R Squared Ltd purchased a new position in shares of Howmet Aerospace in the fourth quarter valued at $26,000. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Stock Performance

The company has a market capitalization of $55.50 billion, a PE ratio of 52.14, a PEG ratio of 1.45 and a beta of 1.50. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $119.90 and a two-hundred day moving average price of $108.88.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a return on equity of 24.50% and a net margin of 14.81%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Analysts predict that Howmet Aerospace Inc. will post 2.66 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, February 7th. This represents a $0.40 annualized dividend and a yield of 0.29%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s payout ratio is 12.21%.

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.