Bank of America Increases Howmet Aerospace (NYSE:HWM) Price Target to $135.00

Howmet Aerospace (NYSE:HWM) had its price target upped by Bank of America from $100.00 to $135.00 in a research note issued to investors on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other analysts also recently weighed in on HWM. Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays upped their price objective on shares of Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Robert W. Baird lifted their target price on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Susquehanna lifted their price objective on Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a research note 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average price target of $115.41.

Howmet Aerospace Price Performance

Shares of HWM stock opened at $112.01 on Wednesday. The business’s fifty day moving average is $102.37 and its 200 day moving average is $91.12. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76. The stock has a market cap of $45.51 billion, a price-to-earnings ratio of 42.75, a PEG ratio of 1.57 and a beta of 1.46. Howmet Aerospace has a twelve month low of $51.22 and a twelve month high of $116.74.

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 paid a $0.08 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.29%. Howmet Aerospace’s dividend payout ratio is presently 12.21%.

Insider Activity

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The trade was a 43.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The trade was a 49.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. RiverPark Advisors LLC purchased a new stake in shares of Howmet Aerospace during the 3rd quarter valued at about $26,000. Hollencrest Capital Management bought a new stake in Howmet Aerospace during the third quarter valued at approximately $30,000. Cultivar Capital Inc. purchased a new stake in Howmet Aerospace during the second quarter valued at approximately $26,000. LGT Financial Advisors LLC raised its position in Howmet Aerospace by 278.7% in the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after acquiring an additional 262 shares during the period. Finally, Rothschild Investment LLC purchased a new position in shares of Howmet Aerospace during the 2nd quarter worth $32,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

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.