Howmet Aerospace (NYSE:HWM) Sets New 1-Year High on Analyst Upgrade

Howmet Aerospace Inc. (NYSE:HWM)’s stock price reached a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $170.00 to $210.00. Morgan Stanley currently has an overweight rating on the stock. Howmet Aerospace traded as high as $187.82 and last traded at $187.59, with a volume of 893092 shares changing hands. The stock had previously closed at $184.30.

Several other research analysts also recently weighed in on HWM. Truist Financial boosted their target price on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. Benchmark lifted their price objective on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, April 21st. Royal Bank Of Canada restated an “outperform” rating on shares of Howmet Aerospace in a research note on Monday, June 30th. Wells Fargo & Company lifted their price target on Howmet Aerospace from $118.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, UBS Group boosted their price target on Howmet Aerospace from $120.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus target price of $150.44.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, VP Barbara Lou Shultz sold 1,250 shares of the business’s 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 transaction, the vice president owned 23,044 shares of the company’s stock, valued at approximately $3,575,737.48. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 30,000 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $158.53, for a total value of $4,755,900.00. Following the completion of the transaction, the executive vice president directly owned 131,859 shares in the company, valued at approximately $20,903,607.27. This represents a 18.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 831,250 shares of company stock worth $130,517,863 over the last three months. Company insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

Several large investors have recently modified their holdings of HWM. Vanguard Group Inc. grew its stake in Howmet Aerospace by 1.5% in the first quarter. Vanguard Group Inc. now owns 47,813,262 shares of the company’s stock valued at $6,202,814,000 after purchasing an additional 695,953 shares in the last quarter. JPMorgan Chase & Co. increased its stake 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 valued at $3,171,970,000 after purchasing an additional 4,252,401 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Howmet Aerospace by 0.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company’s stock worth $1,445,210,000 after acquiring an additional 80,972 shares during the last quarter. Janus Henderson Group PLC grew its position in Howmet Aerospace by 10.3% during the 4th quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company’s stock worth $1,197,315,000 after acquiring an additional 1,026,130 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Howmet Aerospace by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company’s stock valued at $1,070,267,000 after buying an additional 308,574 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Price Performance

The stock has a market cap of $76.29 billion, a P/E ratio of 61.56, a price-to-earnings-growth ratio of 2.71 and a beta of 1.43. The company has a current ratio of 2.30, a quick ratio of 1.07 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $172.73 and a 200 day simple moving average of $143.51.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. On average, analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

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.