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

Howmet Aerospace Inc. (NYSE:HWM - Get Free Report) shares reached a new 52-week high during trading on Wednesday after Bank of America raised their price target on the stock from $100.00 to $135.00. Bank of America currently has a buy rating on the stock. Howmet Aerospace traded as high as $116.53 and last traded at $116.53, with a volume of 1178 shares. The stock had previously closed at $113.58.

HWM has been the topic of several other research reports. Wells Fargo & Company boosted their target price on Howmet Aerospace from $113.00 to $129.00 and gave the stock an "overweight" rating in a research report on Tuesday. KeyCorp cut Howmet Aerospace from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Susquehanna lifted their target price on shares of Howmet Aerospace from $120.00 to $132.00 and gave the stock a "positive" rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $115.41.

Insider Buying and Selling at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the transaction, the chief financial officer now directly owns 155,135 shares of the company's stock, valued at $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Ken Giacobbe sold 154,909 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 155,135 shares of the company's stock, valued at $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares of the company's stock, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.12% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC increased its stake in shares of Howmet Aerospace by 8.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,347 shares of the company's stock worth $1,598,000 after purchasing an additional 1,882 shares during the last quarter. Empowered Funds LLC raised its position in Howmet Aerospace by 323.3% in the first quarter. Empowered Funds LLC now owns 19,828 shares of the company's stock valued at $1,357,000 after purchasing an additional 15,144 shares during the last quarter. Atomi Financial Group Inc. grew its holdings in shares of Howmet Aerospace by 13.0% during the first quarter. Atomi Financial Group Inc. now owns 4,567 shares of the company's stock worth $313,000 after purchasing an additional 527 shares during the last quarter. NorthRock Partners LLC bought a new position in Howmet Aerospace in the 1st quarter valued at approximately $224,000. Finally, Headlands Technologies LLC acquired a new stake in Howmet Aerospace during the 1st quarter worth approximately $75,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Stock Performance

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 $47.02 billion, a price-to-earnings ratio of 44.41, a PEG ratio of 1.54 and a beta of 1.46. The company's 50-day simple moving average is $101.15 and its 200-day simple moving average is $90.30.

Howmet Aerospace Announces Dividend

The firm also recently declared 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. This represents a $0.32 annualized dividend and a yield of 0.28%. The ex-dividend date is Friday, November 8th. Howmet Aerospace's dividend payout ratio (DPR) is presently 12.21%.

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.