Royal Bank of Canada Boosts Howmet Aerospace (NYSE:HWM) Price Target to $90.00

Howmet Aerospace (NYSE:HWM) had its price target lifted by Royal Bank of Canada from $75.00 to $90.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also issued reports on the company. Sanford C. Bernstein initiated coverage on Howmet Aerospace in a report on Friday, January 5th. They issued an outperform rating and a $67.00 target price for the company. The Goldman Sachs Group raised their price objective on Howmet Aerospace from $65.00 to $77.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. UBS Group upped their target price on Howmet Aerospace from $57.00 to $66.00 and gave the company a neutral rating in a report on Thursday, February 15th. JPMorgan Chase & Co. increased their price target on shares of Howmet Aerospace from $55.00 to $60.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. Finally, Truist Financial boosted their price objective on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a buy rating in a research report on Friday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $73.67.

Howmet Aerospace Trading Up 1.2 %

HWM traded up $0.92 during trading on Friday, reaching $79.81. The company had a trading volume of 2,160,566 shares, compared to its average volume of 3,453,474. The firm’s 50-day simple moving average is $66.70 and its 200 day simple moving average is $58.16. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97. The company has a market cap of $32.58 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 1.89 and a beta of 1.41. Howmet Aerospace has a 12-month low of $42.17 and a 12-month high of $80.11.

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

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 9.66%.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HWM. Norges Bank acquired a new stake in Howmet Aerospace in the 4th quarter worth $508,006,000. JPMorgan Chase & Co. increased its stake in Howmet Aerospace by 118.7% during the third 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 during the period. FMR LLC raised its holdings in 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 in the last quarter. Vanguard Group Inc. lifted its position in shares of Howmet Aerospace by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after acquiring an additional 1,274,974 shares during the period. Finally, Capital World Investors grew its holdings in shares of Howmet Aerospace by 41.3% during the 4th quarter. Capital World Investors now owns 3,507,255 shares of the company’s stock worth $189,813,000 after purchasing an additional 1,025,102 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

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.