Howmet Aerospace (NYSE:HWM) Sets New 12-Month High After Analyst Upgrade

Shares of Howmet Aerospace Inc. (NYSE:HWM) reached a new 52-week high during mid-day trading on Wednesday after Bank of America raised their price target on the stock from $100.00 to $135.00. Bank of America currently has a buy rating on the stock. Howmet Aerospace traded as high as $116.53 and last traded at $116.53, with a volume of 1178 shares traded. The stock had previously closed at $113.58.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of Howmet Aerospace from $113.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Barclays upped their target price on shares of Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.41.

Insider Buying and Selling

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The trade was a 49.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. The trade was a 43.25 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Howmet Aerospace

A number of hedge funds and other institutional investors have recently bought and sold shares of HWM. Headlands Technologies LLC bought a new stake in Howmet Aerospace during the 1st quarter valued at $75,000. Russell Investments Group Ltd. grew its position in shares of Howmet Aerospace by 37.6% during the 1st quarter. Russell Investments Group Ltd. now owns 270,300 shares of the company’s stock valued at $18,497,000 after purchasing an additional 73,908 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of Howmet Aerospace during the 1st quarter valued at $259,000. Bleakley Financial Group LLC grew its position in shares of Howmet Aerospace by 3.2% during the 1st quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock valued at $348,000 after purchasing an additional 158 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Howmet Aerospace by 18.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 452,643 shares of the company’s stock valued at $30,974,000 after purchasing an additional 69,662 shares in the last quarter. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

The business’s 50-day moving average price is $101.58 and its 200 day moving average price is $90.48. The stock has a market capitalization of $46.01 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24.

Howmet Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Howmet Aerospace’s dividend payout ratio (DPR) is currently 12.21%.

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.