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

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

Several other research analysts have also recently weighed in on HWM. Royal Bank of Canada began coverage on Howmet Aerospace in a research note on Monday, March 18th. They set an outperform rating and a $75.00 target price for the company. Robert W. Baird lifted their price objective on shares of Howmet Aerospace from $65.00 to $74.00 and gave the stock an outperform rating in a research note on Monday, April 8th. UBS Group increased their target price 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. KeyCorp lifted their price target on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an overweight rating in a research report on Wednesday, February 21st. Finally, Sanford C. Bernstein assumed coverage on Howmet Aerospace in a report on Friday, January 5th. They issued an outperform rating and a $67.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Howmet Aerospace presently has a consensus rating of Moderate Buy and an average price target of $66.00.

Howmet Aerospace Stock Down 0.1 %

HWM stock opened at $63.41 on Tuesday. The firm’s 50-day moving average is $65.71 and its two-hundred day moving average is $56.42. The company has a market capitalization of $25.90 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 1.65 and a beta of 1.43. Howmet Aerospace has a 52 week low of $42.17 and a 52 week high of $69.55. The company has a current ratio of 1.86, a quick ratio of 0.87 and a debt-to-equity ratio of 0.88.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Tuesday, February 13th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.47 by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 earnings per share. On average, analysts forecast that Howmet Aerospace will post 2.18 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Friday, February 9th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Thursday, February 8th. Howmet Aerospace’s dividend payout ratio is currently 10.93%.

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in Howmet Aerospace during the fourth quarter valued at $508,006,000. JPMorgan Chase & Co. grew its stake in shares of Howmet Aerospace by 118.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock valued at $612,307,000 after buying an additional 7,184,620 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Howmet Aerospace by 87.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,972,420 shares of the company’s stock worth $593,828,000 after buying an additional 5,107,898 shares during the last quarter. FMR LLC raised its position in Howmet Aerospace by 21.2% during the third 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. Finally, Macquarie Group Ltd. lifted its stake in Howmet Aerospace by 5,231.1% in the first quarter. Macquarie Group Ltd. now owns 1,575,116 shares of the company’s stock valued at $66,738,000 after acquiring an additional 1,545,570 shares during the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

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.