Bank of America Forecasts Strong Price Appreciation for Howmet Aerospace (NYSE:HWM) Stock

Howmet Aerospace (NYSE:HWM - Free Report) had its price target boosted by Bank of America from $100.00 to $135.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on HWM. JPMorgan Chase & Co. raised their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an "overweight" rating in a report on Wednesday, July 31st. Robert W. Baird raised their target price on shares of Howmet Aerospace from $113.00 to $144.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Royal Bank of Canada lifted 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. Truist Financial boosted their target price on shares of Howmet Aerospace from $123.00 to $128.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their target price on shares of Howmet Aerospace from $113.00 to $129.00 and gave the company an "overweight" rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $115.41.

Howmet Aerospace Trading Up 1.9 %

Howmet Aerospace stock traded up $2.19 during midday trading on Wednesday, hitting $115.77. 2,247,391 shares of the stock were exchanged, compared to its average volume of 2,939,642. The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $47.03 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 1.54 and a beta of 1.46. The stock's 50-day simple moving average is $101.15 and its 200 day simple moving average is $90.30. Howmet Aerospace has a fifty-two week low of $50.57 and a fifty-two week high of $116.59.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. Howmet Aerospace's dividend payout ratio is currently 12.21%.

Insiders Place Their Bets

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 155,135 shares of the company's stock, valued at $14,982,938.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the 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 sale, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their position. The sale 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 sale, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company's stock.

Hedge Funds Weigh In On Howmet Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of HWM. Cultivar Capital Inc. purchased a new position in Howmet Aerospace in the second quarter worth about $26,000. RiverPark Advisors LLC purchased a new stake in Howmet Aerospace in the third quarter valued at $26,000. LGT Financial Advisors LLC raised its position in shares of Howmet Aerospace by 278.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company's stock worth $28,000 after purchasing an additional 262 shares during the last quarter. Hollencrest Capital Management acquired a new position in shares of Howmet Aerospace during the 3rd quarter worth about $30,000. Finally, Rothschild Investment LLC acquired a new position in shares of Howmet Aerospace during the 2nd quarter worth about $32,000. 90.46% of the stock is currently 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.