Wells Fargo & Company Raises Howmet Aerospace (NYSE:HWM) Price Target to $129.00

Howmet Aerospace (NYSE:HWM) had its price target upped by Wells Fargo & Company from $113.00 to $129.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on HWM. KeyCorp downgraded Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Robert W. Baird increased their price objective on Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Barclays increased their price objective on Howmet Aerospace from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, BTIG Research increased their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $115.41.

Howmet Aerospace Trading Down 2.2 %

Shares of NYSE HWM opened at $113.25 on Tuesday. Howmet Aerospace has a 12 month low of $51.22 and a 12 month high of $116.74. The company has a market cap of $46.01 billion, a price-to-earnings ratio of 43.23, a P/E/G ratio of 1.54 and a beta of 1.46. 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 business has a fifty day simple moving average of $101.58 and a 200-day simple moving average of $90.48.

Howmet Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued 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 dividend yield of 0.28%. Howmet Aerospace’s dividend payout ratio (DPR) is 12.21%.

Insider Activity

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction that occurred 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 owns 92,687 shares in the company, valued at $8,985,077.78. This represents a 43.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ken Giacobbe sold 154,909 shares of the company’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 value of $14,961,111.22. Following the completion of the sale, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. This represents a 49.96 % decrease in their position. 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

Several institutional investors and hedge funds have recently made changes to their positions in HWM. Cultivar Capital Inc. acquired a new position in shares of Howmet Aerospace in the second quarter valued at approximately $26,000. RiverPark Advisors LLC acquired a new stake in Howmet Aerospace during the third quarter worth approximately $26,000. LGT Financial Advisors LLC grew its position in Howmet Aerospace by 278.7% during the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after buying an additional 262 shares in the last quarter. Hollencrest Capital Management acquired a new stake in Howmet Aerospace during the third quarter worth approximately $30,000. Finally, Rothschild Investment LLC bought a new stake in Howmet Aerospace during the second quarter worth $32,000. Institutional investors and hedge funds 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.