Wells Fargo & Company Raises Howmet Aerospace (NYSE:HWM) Price Target to $88.00

Howmet Aerospace (NYSE:HWM) had its price target lifted by Wells Fargo & Company from $72.00 to $88.00 in a report published on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

HWM has been the subject of a number of other reports. Royal Bank of Canada increased their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Robert W. Baird upped 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, May 3rd. JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a report on Wednesday, February 14th. UBS Group raised their price objective on Howmet Aerospace from $57.00 to $66.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Finally, Benchmark reissued a buy rating and set a $53.00 target price on shares of Howmet Aerospace in a report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Howmet Aerospace presently has an average rating of Moderate Buy and an average target price of $73.67.

Howmet Aerospace Price Performance

HWM opened at $82.03 on Monday. Howmet Aerospace has a 12 month low of $42.17 and a 12 month high of $82.03. The company has a fifty day simple moving average of $67.55 and a 200 day simple moving average of $58.83. The stock has a market cap of $33.48 billion, a P/E ratio of 39.54, a P/E/G ratio of 1.89 and a beta of 1.41. The company has a quick ratio of 0.92, a current ratio of 1.97 and a debt-to-equity ratio of 0.86.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the business posted $0.42 EPS. Howmet Aerospace’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts expect that Howmet Aerospace will post 2.37 EPS for the current year.

Howmet Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 9.66%.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now directly owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HWM. Vanguard Group Inc. increased its position in Howmet Aerospace by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after purchasing an additional 1,274,974 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Howmet Aerospace by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 23,507,379 shares of the company’s stock worth $1,087,216,000 after buying an additional 897,463 shares in the last quarter. FMR LLC lifted its stake in shares of Howmet Aerospace by 21.2% in the 3rd quarter. FMR LLC now owns 15,086,149 shares of the company’s stock valued at $697,734,000 after acquiring an additional 2,635,894 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Howmet Aerospace by 118.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock valued at $612,307,000 after acquiring an additional 7,184,620 shares in the last quarter. Finally, Norges Bank bought a new stake in Howmet Aerospace during the 4th quarter worth $508,006,000. Institutional investors 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.