Howmet Aerospace (NYSE:HWM) PT Raised to $105.00 at Truist Financial

Howmet Aerospace (NYSE:HWM) had its price target raised by Truist Financial from $88.00 to $105.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

HWM has been the topic of a number of other reports. Wells Fargo & Company boosted their price objective on Howmet Aerospace from $72.00 to $88.00 and gave the company an overweight rating in a research note on Monday, May 6th. 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 research note on Wednesday. Barclays raised their price target on shares of Howmet Aerospace from $65.00 to $85.00 and gave the company an overweight rating in a research report on Monday, May 6th. Royal Bank of Canada increased their price target on Howmet Aerospace from $75.00 to $90.00 and gave the company an outperform rating in a research report on Friday, May 3rd. Finally, BTIG Research began coverage on shares of Howmet Aerospace in a report on Wednesday, June 26th. They issued a buy rating and a $95.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Howmet Aerospace has a consensus rating of Moderate Buy and a consensus price target of $88.33.

Howmet Aerospace Price Performance

Shares of HWM opened at $90.16 on Wednesday. Howmet Aerospace has a 1-year low of $42.94 and a 1-year high of $97.29. The company has a market cap of $36.80 billion, a price-to-earnings ratio of 43.56, a PEG ratio of 1.58 and a beta of 1.45. The company’s fifty day simple moving average is $81.98 and its 200 day simple moving average is $72.15. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $1.88 billion during 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%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. On average, research analysts forecast that Howmet Aerospace will post 2.6 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be given a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is 15.46%.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the sale, the executive vice president now owns 217,687 shares of the company’s stock, valued at approximately $18,342,306.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI lifted its holdings in shares of Howmet Aerospace by 21.3% in the second quarter. National Bank of Canada FI now owns 108,576 shares of the company’s stock worth $8,393,000 after buying an additional 19,058 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in Howmet Aerospace by 4.6% during the 2nd quarter. Chase Investment Counsel Corp now owns 51,945 shares of the company’s stock worth $4,032,000 after acquiring an additional 2,269 shares during the period. Range Financial Group LLC purchased a new stake in Howmet Aerospace in the 2nd quarter worth approximately $321,000. TD Asset Management Inc lifted its stake in Howmet Aerospace by 16.9% in 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, Foundations Investment Advisors LLC bought a new position in Howmet Aerospace in the 2nd quarter valued at $220,000. Institutional investors own 90.46% of the company’s stock.

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.