Howmet Aerospace (NYSE:HWM) Hits New 1-Year High After Analyst Upgrade

Howmet Aerospace Inc. (NYSE:HWM)’s share price reached a new 52-week high on Wednesday after Truist Financial raised their price target on the stock from $128.00 to $130.00. Truist Financial currently has a buy rating on the stock. Howmet Aerospace traded as high as $124.15 and last traded at $122.66, with a volume of 268243 shares. The stock had previously closed at $119.19.

A number of other analysts have also weighed in on HWM. Deutsche Bank Aktiengesellschaft upped their target price on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Bank of America upped their target price on Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. KeyCorp lowered Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Susquehanna increased their price objective on Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Finally, UBS Group increased their price objective on Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds have recently made changes to their positions in HWM. Quest Partners LLC increased its position in shares of Howmet Aerospace by 96.5% in the 2nd quarter. Quest Partners LLC now owns 721 shares of the company’s stock valued at $56,000 after acquiring an additional 354 shares during the period. Wealthspire Advisors LLC acquired a new position in shares of Howmet Aerospace in the 2nd quarter valued at $209,000. Envestnet Asset Management Inc. increased its position in shares of Howmet Aerospace by 3.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 402,111 shares of the company’s stock valued at $31,216,000 after acquiring an additional 15,167 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Howmet Aerospace by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,102,155 shares of the company’s stock valued at $163,218,000 after acquiring an additional 56,614 shares during the period. Finally, Renaissance Technologies LLC grew its position in Howmet Aerospace by 341.7% during the 2nd quarter. Renaissance Technologies LLC now owns 709,400 shares of the company’s stock worth $55,071,000 after purchasing an additional 548,800 shares during the period. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Price Performance

The firm has a 50-day simple moving average of $114.16 and a two-hundred day simple moving average of $100.89. The company has a market capitalization of $49.54 billion, a price-to-earnings ratio of 46.54, a P/E/G ratio of 1.56 and a beta of 1.49. The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76.

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.