Howmet Aerospace (NYSE:HWM) Reaches New 12-Month High on Analyst Upgrade

Howmet Aerospace Inc. (NYSE:HWM)’s share price reached a new 52-week high during trading on Wednesday after Morgan Stanley raised their price target on the stock from $125.00 to $155.00. Morgan Stanley currently has an overweight rating on the stock. Howmet Aerospace traded as high as $137.41 and last traded at $136.62, with a volume of 3218206 shares trading hands. The stock had previously closed at $133.42.

A number of other research firms also recently commented on HWM. Robert W. Baird lifted their target price on Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group lifted their price target on shares of Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Barclays boosted their price objective on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, KeyCorp lowered Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.28.

Hedge Funds Weigh In On Howmet Aerospace

A number of hedge funds have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Howmet Aerospace during the fourth quarter valued at about $25,000. Meeder Asset Management Inc. boosted its position in shares of Howmet Aerospace by 208.1% during the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Howmet Aerospace during the 4th quarter worth about $25,000. RiverPark Advisors LLC purchased a new position in shares of Howmet Aerospace in the third quarter valued at approximately $26,000. Finally, R Squared Ltd purchased a new position in Howmet Aerospace in the 4th quarter valued at approximately $26,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

The company has a 50 day moving average of $120.86 and a 200 day moving average of $109.29. The stock has a market capitalization of $55.96 billion, a price-to-earnings ratio of 48.99, a PEG ratio of 1.51 and a beta of 1.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. As a group, equities research analysts anticipate that Howmet Aerospace Inc. will post 3.24 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Friday, February 7th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.29%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s payout ratio is 14.18%.

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.