Howmet Aerospace (NYSE:HWM) Downgraded by KeyCorp to “Sector Weight”

KeyCorp cut shares of Howmet Aerospace (NYSE:HWM) from an overweight rating to a sector weight rating in a report issued on Thursday, MarketBeat Ratings reports.

HWM has been the topic of several other reports. BTIG Research upped their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Truist Financial increased their target price on shares of Howmet Aerospace from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein raised their price objective on Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Benchmark upped their target price on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.50.

Howmet Aerospace Price Performance

NYSE:HWM opened at $100.62 on Thursday. Howmet Aerospace has a 12-month low of $42.94 and a 12-month high of $106.93. The firm has a market capitalization of $41.07 billion, a price-to-earnings ratio of 48.61, a P/E/G ratio of 1.51 and a beta of 1.46. The stock’s 50 day moving average price is $98.58 and its two-hundred day moving average price is $86.12. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 EPS. On average, analysts anticipate that Howmet Aerospace will post 2.59 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.32%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 15.46%.

Insider Activity

In related news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was 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 in the company, valued at $14,982,938.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace 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 transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is owned by corporate insiders.

Institutional Trading of Howmet Aerospace

Several large investors have recently modified their holdings of the stock. Senator Investment Group LP boosted its stake in Howmet Aerospace by 24.8% during the second quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock worth $12,110,000 after acquiring an additional 31,000 shares in the last quarter. Terra Nova Asset Management LLC acquired a new position in shares of Howmet Aerospace during the third quarter valued at about $1,264,000. Wealthspire Advisors LLC bought a new position in shares of Howmet Aerospace during the 2nd quarter worth about $209,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Howmet Aerospace by 1,258.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock valued at $206,000 after buying an additional 1,900 shares during the period. Finally, Blair William & Co. IL increased its position in Howmet Aerospace by 51.6% in the 1st quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock valued at $1,744,000 after buying an additional 8,676 shares in the last quarter. Institutional investors and hedge funds 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.