Royal Bank of Canada Issues Positive Forecast for Howmet Aerospace (NYSE:HWM) Stock Price

Howmet Aerospace (NYSE:HWM) had its price target hoisted by Royal Bank of Canada from $165.00 to $200.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

HWM has been the topic of several other research reports. Barclays raised their target price on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group raised their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company boosted their price objective 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. BTIG Research reiterated a “buy” rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Finally, Benchmark boosted their price target on shares of Howmet Aerospace from $85.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.59.

Howmet Aerospace Price Performance

Shares of HWM opened at $172.88 on Monday. The firm has a market capitalization of $69.79 billion, a price-to-earnings ratio of 61.31, a PEG ratio of 1.92 and a beta of 1.44. The firm’s fifty day simple moving average is $147.18 and its 200-day simple moving average is $131.55. Howmet Aerospace has a twelve month low of $76.83 and a twelve month high of $177.25. The company has a current ratio of 2.17, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, May 1st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Howmet Aerospace will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

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

Insider Buying and Selling

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

Institutional Trading of Howmet Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Howmet Aerospace in the fourth quarter valued at about $1,001,558,000. JPMorgan Chase & Co. grew its holdings in shares of Howmet Aerospace by 21.1% in the 1st quarter. JPMorgan Chase & Co. now owns 24,450,547 shares of the company’s stock worth $3,171,970,000 after acquiring an additional 4,252,401 shares during the period. Nuveen LLC purchased a new position in Howmet Aerospace in the 1st quarter valued at approximately $366,209,000. Winslow Capital Management LLC acquired a new position in Howmet Aerospace during the fourth quarter worth $265,844,000. Finally, GAMMA Investing LLC boosted its position in Howmet Aerospace by 15,741.8% during the first quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company’s stock worth $1,723,040,000 after purchasing an additional 1,319,792 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

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.