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

Howmet Aerospace (NYSE:HWM) had its price objective raised by Royal Bank of Canada from $105.00 to $135.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages also recently commented on HWM. Sanford C. Bernstein upped their target price on Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft increased their price objective on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. UBS Group increased their price objective on Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday. BTIG Research increased their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Finally, Susquehanna increased their price objective on Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

Howmet Aerospace Trading Up 2.3 %

Shares of NYSE HWM traded up $2.53 during mid-day trading on Thursday, hitting $113.67. 2,012,326 shares of the company traded hands, compared to its average volume of 2,952,814. Howmet Aerospace has a 1 year low of $48.39 and a 1 year high of $115.38. The stock has a market capitalization of $46.39 billion, a price-to-earnings ratio of 50.21, a PEG ratio of 1.45 and a beta of 1.46. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average of $100.04 and a two-hundred day moving average of $88.92.

Howmet Aerospace Announces Dividend

The business also recently disclosed 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s dividend payout ratio is 14.16%.

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the firm’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 value of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s 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 directly owns 92,687 shares in the company, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

Institutional Trading of Howmet Aerospace

A number of hedge funds have recently modified their holdings of HWM. Cultivar Capital Inc. bought a new stake in shares of Howmet Aerospace in the 2nd quarter worth approximately $26,000. RiverPark Advisors LLC bought a new stake in shares of Howmet Aerospace in the 3rd quarter worth approximately $26,000. LGT Financial Advisors LLC lifted its position in shares of Howmet Aerospace by 278.7% in the 2nd 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. Hollencrest Capital Management bought a new stake in shares of Howmet Aerospace in the 3rd quarter worth approximately $30,000. Finally, Rothschild Investment LLC bought a new stake in shares of Howmet Aerospace in the 2nd quarter worth approximately $32,000. Institutional investors 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.