Howmet Aerospace (NYSE:HWM) Downgraded by KeyCorp

KeyCorp lowered shares of Howmet Aerospace (NYSE:HWM) from an overweight rating to a sector weight rating in a research note published on Thursday morning, Marketbeat Ratings reports.

A number of other equities analysts also recently commented on HWM. Royal Bank of Canada upped their target price on Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their target price on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Truist Financial lifted their price target on Howmet Aerospace from $105.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $101.50.

Howmet Aerospace Price Performance

HWM opened at $101.39 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The stock’s 50 day simple moving average is $98.79 and its 200 day simple moving average is $86.76. The firm has a market cap of $41.39 billion, a price-to-earnings ratio of 48.98, a PEG ratio of 1.51 and a beta of 1.46. Howmet Aerospace has a 1 year low of $42.94 and a 1 year high of $106.93.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. As a group, analysts predict that Howmet Aerospace will post 2.59 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. Howmet Aerospace’s dividend payout ratio is presently 15.46%.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction on 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 owns 92,687 shares in the company, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction on 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 transaction, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Howmet Aerospace

Hedge funds have recently modified their holdings of the company. Lone Pine Capital LLC bought a new position in shares of Howmet Aerospace in the second quarter worth about $284,539,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Howmet Aerospace by 28.8% during 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 purchasing an additional 3,158,186 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Howmet Aerospace by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after purchasing an additional 2,813,911 shares during the last quarter. TD Asset Management Inc increased its stake in Howmet Aerospace by 986.0% in the 1st 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 during the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Howmet Aerospace during the 1st quarter worth approximately $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.