Howmet Aerospace (NYSE:HWM) Given New $88.00 Price Target at Wells Fargo & Company

Howmet Aerospace (NYSE:HWM) had its price objective upped by Wells Fargo & Company from $72.00 to $88.00 in a research report report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

HWM has been the topic of a number of other reports. Robert W. Baird raised their price objective on shares of Howmet Aerospace from $74.00 to $84.00 and gave the company an outperform rating in a report on Friday, May 3rd. The Goldman Sachs Group lifted their target price on shares of Howmet Aerospace from $77.00 to $87.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Barclays boosted their price objective on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research report on Tuesday, February 20th. Truist Financial boosted their target price on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a buy rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock an outperform rating in a research note on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Howmet Aerospace presently has a consensus rating of Moderate Buy and an average target price of $73.67.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $81.42 on Monday. The firm has a 50 day simple moving average of $67.26 and a 200-day simple moving average of $58.67. Howmet Aerospace has a 1-year low of $42.17 and a 1-year high of $81.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.92. The stock has a market cap of $33.23 billion, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 1.89 and a beta of 1.41.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS. On average, analysts expect that Howmet Aerospace will post 2.37 EPS for the current year.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.20 annualized dividend and a yield of 0.25%. Howmet Aerospace’s payout ratio is 9.66%.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the sale, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is owned by company insiders.

Institutional Trading of Howmet Aerospace

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TD Asset Management Inc raised its position in Howmet Aerospace by 986.0% in 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. Sheets Smith Wealth Management raised its holdings in shares of Howmet Aerospace by 44.7% in the 1st quarter. Sheets Smith Wealth Management now owns 6,532 shares of the company’s stock worth $447,000 after purchasing an additional 2,018 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Howmet Aerospace by 3.2% during the first quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock worth $348,000 after buying an additional 158 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Howmet Aerospace during the 1st quarter valued at $259,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Howmet Aerospace by 37.6% in the 1st quarter. Russell Investments Group Ltd. now owns 270,300 shares of the company’s stock worth $18,497,000 after acquiring an additional 73,908 shares during the last quarter. 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.