Truist Financial Boosts Howmet Aerospace (NYSE:HWM) Price Target to $123.00

Howmet Aerospace (NYSE:HWM) had its price objective hoisted by Truist Financial from $105.00 to $123.00 in a report published on Friday, Marketbeat Ratings reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the stock. KeyCorp raised their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird boosted their price target on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Royal Bank of Canada increased their price objective on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. upped their target price on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One equities 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $101.50.

Howmet Aerospace Trading Up 0.7 %

NYSE HWM opened at $106.33 on Friday. The firm’s 50 day moving average price is $98.22 and its two-hundred day moving average price is $85.76. 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 has a twelve month low of $42.94 and a twelve month high of $106.93. The stock has a market cap of $43.40 billion, a price-to-earnings ratio of 51.36, a PEG ratio of 1.51 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. Howmet Aerospace’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. Equities analysts anticipate that Howmet Aerospace will post 2.59 EPS for the current year.

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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is 15.46%.

Insider Buying and Selling

In related news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction on 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 transaction, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Howmet Aerospace

Several large investors have recently bought and sold shares of the stock. Eastern Bank acquired a new stake in Howmet Aerospace in the 3rd quarter worth $473,000. Signaturefd LLC lifted its stake in shares of Howmet Aerospace by 20.3% in the third quarter. Signaturefd LLC now owns 4,279 shares of the company’s stock valued at $429,000 after buying an additional 722 shares during the period. Sequoia Financial Advisors LLC grew its position in Howmet Aerospace by 42.9% during the third quarter. Sequoia Financial Advisors LLC now owns 3,950 shares of the company’s stock worth $396,000 after buying an additional 1,185 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Howmet Aerospace by 95.8% during the third quarter. Raleigh Capital Management Inc. now owns 1,198 shares of the company’s stock valued at $120,000 after acquiring an additional 586 shares during the period. Finally, Venture Visionary Partners LLC acquired a new position in Howmet Aerospace in the 3rd quarter valued at approximately $248,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

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.