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

Howmet Aerospace Inc. (NYSE:HWM) hit a new 52-week high during mid-day trading on Wednesday after Truist Financial raised their price target on the stock from $128.00 to $130.00. Truist Financial currently has a buy rating on the stock. Howmet Aerospace traded as high as $124.15 and last traded at $122.66, with a volume of 268243 shares traded. The stock had previously closed at $119.19.

HWM has been the topic of a number of other research reports. UBS Group increased their price target on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Susquehanna raised their target price on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a research note on Thursday, November 7th. Bank of America raised their target price on shares of Howmet Aerospace from $100.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada raised their target price on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein raised their target price on shares of Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. One investment 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. According to data from MarketBeat.com, Howmet Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Institutional Trading of Howmet Aerospace

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Senator Investment Group LP raised its position in shares of Howmet Aerospace by 24.8% during the 2nd quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock worth $12,110,000 after buying an additional 31,000 shares in the last quarter. Terra Nova Asset Management LLC bought a new stake in shares of Howmet Aerospace during the 3rd quarter worth about $1,264,000. Stifel Financial Corp raised its position in shares of Howmet Aerospace by 12.1% during the 3rd quarter. Stifel Financial Corp now owns 263,830 shares of the company’s stock worth $26,450,000 after buying an additional 28,568 shares in the last quarter. Wealthspire Advisors LLC bought a new stake in shares of Howmet Aerospace during the 2nd quarter worth about $209,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Howmet Aerospace by 1,258.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock worth $206,000 after buying an additional 1,900 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Price Performance

The company has a market capitalization of $49.86 billion, a P/E ratio of 46.84, a P/E/G ratio of 1.56 and a beta of 1.49. The business’s 50-day simple moving average is $114.16 and its 200 day simple moving average is $100.89. The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76.

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.