Howmet Aerospace Inc. (NYSE:HWM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Howmet Aerospace Inc. (NYSE:HWM) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $150.44.

HWM has been the subject of a number of recent analyst reports. Benchmark boosted their target price on Howmet Aerospace from $85.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. Royal Bank Of Canada restated an “outperform” rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Wells Fargo & Company raised their price objective on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Morgan Stanley increased their target price on Howmet Aerospace from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Finally, BTIG Research restated a “buy” rating on shares of Howmet Aerospace in a report on Monday, May 5th.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 131,859 shares of the company’s stock, valued at $20,903,607.27. This trade represents a 18.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John C. Plant sold 800,000 shares of the firm’s stock in a transaction dated 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 directly owned 236,544 shares of the company’s stock, valued at $37,127,946.24. The trade was a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 831,250 shares of company stock valued at $130,517,863 over the last 90 days. 1.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new position in Howmet Aerospace in the 4th quarter valued at $25,000. Meeder Asset Management Inc. grew its holdings in Howmet Aerospace by 208.1% during the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after acquiring an additional 154 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Howmet Aerospace during the fourth quarter worth $25,000. Kapitalo Investimentos Ltda acquired a new stake in Howmet Aerospace during the fourth quarter worth approximately $30,000. Finally, Pinpoint Asset Management Ltd grew its position in Howmet Aerospace by 42.8% in the first quarter. Pinpoint Asset Management Ltd now owns 237 shares of the company’s stock valued at $31,000 after acquiring an additional 71 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $187.74 on Tuesday. The firm has a market cap of $75.79 billion, a price-to-earnings ratio of 61.15, a P/E/G ratio of 2.80 and a beta of 1.43. Howmet Aerospace has a 1 year low of $78.34 and a 1 year high of $191.61. 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 fifty day simple moving average of $173.39 and a 200 day simple moving average of $144.55.

Howmet Aerospace (NYSE:HWM) last released its 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 firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Howmet Aerospace had a net margin of 16.64% and a return on equity of 27.25%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, sell-side analysts predict that Howmet Aerospace will post 3.27 earnings per share for the current fiscal year.

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.