Howmet Aerospace (NYSE:HWM) Lowered to Sector Weight at KeyCorp

Howmet Aerospace (NYSE:HWM) was downgraded by analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a research note issued on Thursday, Marketbeat Ratings reports.

Several other analysts have also recently weighed in on the company. Barclays boosted their price target on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. BTIG Research upped their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Benchmark raised their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Sanford C. Bernstein boosted their price objective on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised 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, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $101.50.

Howmet Aerospace Stock Up 0.2 %

Shares of NYSE HWM opened at $102.83 on Thursday. The stock has a market capitalization of $41.97 billion, a P/E ratio of 49.68, a PEG ratio of 1.51 and a beta of 1.46. The stock’s fifty day moving average is $98.58 and its 200 day moving average is $86.12. Howmet Aerospace has a 52 week low of $42.94 and a 52 week high of $106.93. 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 (NYSE:HWM) last released its earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the firm earned $0.44 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Sell-side analysts forecast that Howmet Aerospace will post 2.59 earnings per share for the current fiscal year.

Insider Transactions at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 owns 92,687 shares in the company, valued at $8,985,077.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Ken Giacobbe sold 154,909 shares of the company’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 transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

A number of large investors have recently modified their holdings of HWM. JPMorgan Chase & Co. increased its stake in Howmet Aerospace by 18.7% during the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock valued at $1,223,358,000 after purchasing an additional 2,813,911 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Howmet Aerospace by 28.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after acquiring an additional 3,158,186 shares in the last quarter. Lone Pine Capital LLC bought a new stake in shares of Howmet Aerospace during the second quarter worth about $284,539,000. TD Asset Management Inc raised its holdings in shares of 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 acquiring an additional 455,180 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in Howmet Aerospace in the 1st quarter valued at about $148,996,000. 90.46% of the stock is currently owned by institutional investors.

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.