Howmet Aerospace (NYSE:HWM) Shares Break Above Fifty Day Moving Average – Here’s What Happened

Howmet Aerospace Inc. (NYSE:HWM)’s stock price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $221.28 and traded as high as $225.58. Howmet Aerospace shares last traded at $223.6610, with a volume of 3,000,669 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on HWM shares. TD Cowen lowered their target price on Howmet Aerospace from $320.00 to $280.00 and set a “buy” rating for the company in a report on Friday, October 9th. Weiss Ratings raised Howmet Aerospace from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 19th. Royal Bank Of Canada reduced their price objective on Howmet Aerospace from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. KeyCorp upgraded Howmet Aerospace from a “sector weight” rating to an “overweight” rating and set a $237.00 price objective for the company in a report on Tuesday, November 3rd. Finally, Citigroup reissued a “buy” rating on shares of Howmet Aerospace in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $295.81.

Howmet Aerospace Stock Up 2.1%

The stock has a 50-day moving average of $221.28 and a 200-day moving average of $248.23. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.86 and a quick ratio of 0.90. The firm has a market cap of $88.94 billion, a price-to-earnings ratio of 43.77, a P/E/G ratio of 1.60 and a beta of 1.31.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Thursday, October 29th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.09. Howmet Aerospace had a net margin of 21.10% and a return on equity of 36.44%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the firm posted $0.95 earnings per share. The firm’s quarterly revenue was up 29.4% compared to the same quarter last year. Sell-side analysts predict that Howmet Aerospace Inc. will post 5.49 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 6th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, November 6th. Howmet Aerospace’s dividend payout ratio is currently 10.96%.

Hedge Funds Weigh In On Howmet Aerospace

Several large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Howmet Aerospace in the 2nd quarter valued at approximately $12,318,939,000. State Street Corp boosted its holdings in shares of Howmet Aerospace by 3.3% during the 2nd quarter. State Street Corp now owns 18,933,928 shares of the company’s stock worth $5,090,576,000 after buying an additional 612,866 shares in the last quarter. Bank of America Corp DE grew its holdings in Howmet Aerospace by 1.7% in the first quarter. Bank of America Corp DE now owns 10,728,447 shares of the company’s stock worth $2,472,478,000 after purchasing an additional 177,533 shares during the period. Jupiter Topco LLC acquired a new stake in shares of Howmet Aerospace in the 2nd quarter valued at about $2,065,086,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Howmet Aerospace during the second quarter valued at approximately $1,099,765,000. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Company Profile

Howmet Aerospace designs and manufactures engineered metal products for the aerospace, commercial transportation and industrial markets. Its products include components for aircraft engines and airframes, fastening systems, and forged aluminum wheels for commercial trucks. The company operates through businesses focused on engine products, fastening systems, engineered structures and forged wheels. Its components and systems are used by aerospace manufacturers and suppliers, as well as customers in transportation and other industrial sectors.