Truist Financial Issues Positive Forecast for Howmet Aerospace (NYSE:HWM) Stock Price

Howmet Aerospace (NYSE:HWM) had its target price upped by Truist Financial from $161.00 to $192.00 in a research note released on Thursday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

HWM has been the subject of several other research reports. Northcoast Research raised shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 9th. Wells Fargo & Company lifted their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Benchmark lifted their target price on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Finally, The Goldman Sachs Group lifted their target price on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.88.

Howmet Aerospace Price Performance

HWM stock opened at $171.37 on Thursday. The company has a fifty day moving average price of $150.34 and a 200-day moving average price of $132.46. The company has a market capitalization of $69.18 billion, a P/E ratio of 60.77, a PEG ratio of 1.92 and a beta of 1.44. Howmet Aerospace has a 52-week low of $76.83 and a 52-week high of $177.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, equities analysts expect that Howmet Aerospace will post 3.27 EPS for the current year.

Howmet Aerospace Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO John C. Plant sold 800,000 shares of Howmet Aerospace stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the completion of the transaction, the chief executive officer now directly owns 236,544 shares in the company, valued at $37,127,946.24. This trade represents a 77.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Neil Edward Marchuk sold 30,000 shares of Howmet Aerospace stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the transaction, the executive vice president now owns 131,859 shares of the company’s stock, valued at $20,903,607.27. This represents a 18.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 831,250 shares of company stock worth $130,517,863. 1.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp acquired a new position in shares of Howmet Aerospace during the fourth quarter valued at about $25,000. Meeder Asset Management Inc. grew its holdings in shares of Howmet Aerospace by 208.1% during the fourth quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock valued at $25,000 after buying an additional 154 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Howmet Aerospace during the fourth quarter valued at about $25,000. Pinpoint Asset Management Ltd grew its holdings in shares of Howmet Aerospace by 42.8% during the first quarter. Pinpoint Asset Management Ltd now owns 237 shares of the company’s stock valued at $31,000 after buying an additional 71 shares during the last quarter. Finally, Hemington Wealth Management grew its holdings in shares of Howmet Aerospace by 46.6% during the first quarter. Hemington Wealth Management now owns 255 shares of the company’s stock valued at $33,000 after buying an additional 81 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

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.