Truist Financial Forecasts Strong Price Appreciation for Howmet Aerospace (NYSE:HWM) Stock

Howmet Aerospace (NYSE:HWM) had its price target boosted by Truist Financial from $161.00 to $192.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

HWM has been the topic of several other research reports. Northcoast Research raised shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. Wells Fargo & Company increased their price target on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. increased their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Benchmark increased their price target on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. Finally, The Goldman Sachs Group increased their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.13.

Howmet Aerospace Trading Down 0.4%

NYSE HWM opened at $170.91 on Thursday. The stock has a market capitalization of $68.99 billion, a P/E ratio of 60.61, a PEG ratio of 1.92 and a beta of 1.44. Howmet Aerospace has a 12 month low of $76.83 and a 12 month high of $177.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The firm’s 50-day moving average is $151.46 and its two-hundred day moving average is $132.94.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, sell-side analysts anticipate that Howmet Aerospace will post 3.27 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 9th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.40 annualized dividend and a yield of 0.23%. Howmet Aerospace’s dividend payout ratio is currently 13.03%.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, CEO John C. Plant sold 800,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $156.96, for a total value of $125,568,000.00. Following the transaction, the chief executive officer now directly owns 236,544 shares in the company, valued at $37,127,946.24. This represents a 77.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Barbara Lou Shultz sold 1,250 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $155.17, for a total transaction of $193,962.50. Following the completion of the transaction, the vice president now owns 23,044 shares in the company, valued at $3,575,737.48. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 831,250 shares of company stock worth $130,517,863 over the last three months. Insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds have recently added to or reduced their stakes in HWM. Brighton Jones LLC increased its stake in Howmet Aerospace by 5.4% in the fourth quarter. Brighton Jones LLC now owns 2,548 shares of the company’s stock valued at $279,000 after purchasing an additional 130 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Howmet Aerospace by 39.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 6,932 shares of the company’s stock valued at $758,000 after acquiring an additional 1,970 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of Howmet Aerospace by 10.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 9,812 shares of the company’s stock valued at $1,073,000 after acquiring an additional 963 shares during the period. Portfolio Design Labs LLC acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $269,000. Finally, Avestar Capital LLC acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $220,000. 90.46% of the stock is currently owned by hedge funds and other 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.