Howmet Aerospace (NYSE:HWM) Reaches New 12-Month High After Analyst Upgrade

Howmet Aerospace Inc. (NYSE:HWM)’s share price hit a new 52-week high on Wednesday after Bank of America raised their price target on the stock from $100.00 to $135.00. Bank of America currently has a buy rating on the stock. Howmet Aerospace traded as high as $116.53 and last traded at $116.53, with a volume of 1178 shares trading hands. The stock had previously closed at $113.58.

Several other equities research analysts have also weighed in on HWM. Wells Fargo & Company upped their price objective on Howmet Aerospace from $113.00 to $129.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group increased their price objective on Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Barclays lifted their price objective on Howmet Aerospace from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Monday. BTIG Research increased their target price on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.41.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated 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 owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’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 transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was 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 company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lone Pine Capital LLC acquired a new stake in Howmet Aerospace in the second quarter worth $284,539,000. Price T Rowe Associates Inc. MD increased its position in shares of Howmet Aerospace by 28.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after buying an additional 3,158,186 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $1,223,358,000 after buying an additional 2,813,911 shares during the period. TD Asset Management Inc lifted its holdings in Howmet Aerospace by 986.0% during the first quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock worth $184,586,000 after acquiring an additional 2,449,057 shares in the last quarter. Finally, Capital Research Global Investors acquired a new position in Howmet Aerospace in the first quarter valued at about $148,996,000. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

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 company has a market cap of $47.34 billion, a price-to-earnings ratio of 43.34, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. The stock has a 50-day moving average price of $101.15 and a 200 day moving average price of $90.30.

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders 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 yield of 0.27%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s payout ratio is currently 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.