Howmet Aerospace (NYSE:HWM) PT Raised to $90.00 at Royal Bank of Canada

Howmet Aerospace (NYSE:HWM) had its target price upped by Royal Bank of Canada from $75.00 to $90.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also issued reports on HWM. JPMorgan Chase & Co. boosted their price target on shares of Howmet Aerospace from $55.00 to $60.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. Robert W. Baird boosted their target price on shares of Howmet Aerospace from $74.00 to $84.00 and gave the company an outperform rating in a report on Friday. Benchmark reiterated a buy rating and issued a $53.00 price target on shares of Howmet Aerospace in a research report on Friday, April 19th. Barclays increased their price objective on Howmet Aerospace from $60.00 to $65.00 and gave the stock an overweight rating in a report on Tuesday, February 20th. Finally, Truist Financial raised their target price on Howmet Aerospace from $74.00 to $88.00 and gave the stock a buy rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $73.67.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $80.18 on Friday. The business’s 50 day simple moving average is $66.98 and its 200 day simple moving average is $58.41. Howmet Aerospace has a 12 month low of $42.17 and a 12 month high of $80.20. The company has a market cap of $32.73 billion, a price-to-earnings ratio of 38.73, a PEG ratio of 1.89 and a beta of 1.41. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Howmet Aerospace will post 2.37 EPS for the current year.

Howmet Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be given a $0.05 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.20 annualized dividend and a yield of 0.25%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 9.66%.

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the transaction, the executive vice president now directly owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

A number of institutional investors have recently made changes to their positions in the business. Venturi Wealth Management LLC lifted its stake in Howmet Aerospace by 61.3% in the third quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock worth $26,000 after purchasing an additional 212 shares during the last quarter. Headinvest LLC bought a new stake in shares of Howmet Aerospace in the 3rd quarter valued at about $30,000. Whittier Trust Co. grew its position in Howmet Aerospace by 81.4% during the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after acquiring an additional 228 shares during the last quarter. Lindbrook Capital LLC increased its stake in Howmet Aerospace by 34.4% in the 4th quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock worth $48,000 after purchasing an additional 229 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in Howmet Aerospace by 62.9% in the fourth quarter. Quadrant Capital Group LLC now owns 976 shares of the company’s stock valued at $53,000 after purchasing an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

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.