Howmet Aerospace (NYSE:HWM) Price Target Raised to $77.00 at The Goldman Sachs Group

Howmet Aerospace (NYSE:HWM) had its target price hoisted by The Goldman Sachs Group from $65.00 to $77.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Barclays upped their price target on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an overweight rating in a research note on Tuesday, February 20th. Sanford C. Bernstein initiated coverage on shares of Howmet Aerospace in a research note on Friday, January 5th. They issued an outperform rating and a $67.00 price target on the stock. Robert W. Baird upped their price target on shares of Howmet Aerospace from $65.00 to $74.00 and gave the company an outperform rating in a research note on Monday, April 8th. UBS Group upped their price target on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a neutral rating in a research note on Thursday, February 15th. Finally, Truist Financial raised shares of Howmet Aerospace from a hold rating to a buy rating and upped their price objective for the stock from $47.00 to $74.00 in a research report on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $66.00.

Howmet Aerospace Price Performance

NYSE:HWM opened at $64.03 on Tuesday. Howmet Aerospace has a one year low of $42.17 and a one year high of $69.55. The company has a market cap of $26.15 billion, a P/E ratio of 34.99, a P/E/G ratio of 1.67 and a beta of 1.43. The firm’s fifty day moving average price is $65.44 and its two-hundred day moving average price is $56.19. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.86 and a quick ratio of 0.87.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.47 by $0.06. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the company posted $0.38 earnings per share. Howmet Aerospace’s revenue was up 14.4% compared to the same quarter last year. Equities analysts expect that Howmet Aerospace will post 2.18 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. Howmet Aerospace’s dividend payout ratio (DPR) is currently 10.93%.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Howmet Aerospace by 2.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,746 shares of the company’s stock worth $872,000 after acquiring an additional 246 shares during the last quarter. S.A. Mason LLC lifted its holdings in shares of Howmet Aerospace by 31.8% in the first quarter. S.A. Mason LLC now owns 1,035 shares of the company’s stock worth $71,000 after acquiring an additional 250 shares during the last quarter. Ballentine Partners LLC acquired a new position in shares of Howmet Aerospace in the first quarter valued at approximately $265,000. Park Avenue Securities LLC acquired a new position in shares of Howmet Aerospace in the first quarter valued at approximately $263,000. Finally, Czech National Bank increased its stake in shares of Howmet Aerospace by 0.5% in the first quarter. Czech National Bank now owns 68,824 shares of the company’s stock valued at $4,710,000 after buying an additional 315 shares during the period. Institutional investors own 90.46% of the company’s stock.

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.