Howmet Aerospace (NYSE:HWM) Hits New 1-Year High After Analyst Upgrade

Shares of Howmet Aerospace Inc. (NYSE:HWM) hit a new 52-week high during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $128.00 to $130.00. Truist Financial currently has a buy rating on the stock. Howmet Aerospace traded as high as $124.15 and last traded at $122.66, with a volume of 268243 shares traded. The stock had previously closed at $119.19.

Several other equities research analysts have also recently weighed in on the company. Robert W. Baird boosted their price objective on Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. KeyCorp cut Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Barclays boosted their price objective on Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Finally, Bank of America boosted their price objective on Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Institutional Trading of Howmet Aerospace

Large investors have recently modified their holdings of the company. Senator Investment Group LP boosted its holdings in shares of Howmet Aerospace by 24.8% in the second quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock valued at $12,110,000 after purchasing an additional 31,000 shares during the period. Terra Nova Asset Management LLC purchased a new stake in shares of Howmet Aerospace in the third quarter valued at approximately $1,264,000. Stifel Financial Corp boosted its holdings in shares of Howmet Aerospace by 12.1% in the third quarter. Stifel Financial Corp now owns 263,830 shares of the company’s stock valued at $26,450,000 after purchasing an additional 28,568 shares during the period. Wealthspire Advisors LLC purchased a new stake in shares of Howmet Aerospace in the second quarter valued at approximately $209,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Howmet Aerospace by 1,258.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock valued at $206,000 after purchasing an additional 1,900 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Up 2.3 %

The company has a debt-to-equity ratio of 0.76, a current ratio of 2.24 and a quick ratio of 0.98. The stock has a market cap of $49.54 billion, a PE ratio of 46.54, a price-to-earnings-growth ratio of 1.56 and a beta of 1.49. The business has a fifty day moving average of $114.16 and a 200-day moving average of $100.89.

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.