Howmet Aerospace Inc. (NYSE:HWM - Get Free Report) hit a new 52-week high during mid-day trading on Thursday after Morgan Stanley raised their price target on the stock from $170.00 to $210.00. Morgan Stanley currently has an overweight rating on the stock. Howmet Aerospace traded as high as $187.82 and last traded at $187.59, with a volume of 893092 shares changing hands. The stock had previously closed at $184.30.
A number of other brokerages have also recently issued reports on HWM. Wells Fargo & Company raised their target price on Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. BTIG Research reiterated a "buy" rating on shares of Howmet Aerospace in a report on Monday, May 5th. Susquehanna lifted their price objective on Howmet Aerospace from $170.00 to $210.00 and gave the company a "positive" rating in a report on Monday. Truist Financial lifted their price objective on Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, UBS Group boosted their target price on Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.44.
Get Our Latest Stock Report on HWM
Insider Buying and Selling
In related news, EVP Neil Edward Marchuk sold 30,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the transaction, the executive vice president directly owned 131,859 shares of the company's stock, valued at approximately $20,903,607.27. The trade was a 18.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $156.96, for a total value of $125,568,000.00. Following the transaction, the chief executive officer directly owned 236,544 shares in the company, valued at $37,127,946.24. The trade was a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 831,250 shares of company stock valued at $130,517,863. 1.04% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC acquired a new stake in shares of Howmet Aerospace during the 2nd quarter worth $287,000. Overbrook Management Corp lifted its position in shares of Howmet Aerospace by 18.4% during the 2nd quarter. Overbrook Management Corp now owns 52,899 shares of the company's stock worth $9,846,000 after buying an additional 8,226 shares during the last quarter. Tritonpoint Wealth LLC bought a new position in Howmet Aerospace in the second quarter valued at about $224,000. Guyasuta Investment Advisors Inc. raised its position in Howmet Aerospace by 33.1% in the second quarter. Guyasuta Investment Advisors Inc. now owns 6,067 shares of the company's stock valued at $1,129,000 after purchasing an additional 1,509 shares during the last quarter. Finally, Avior Wealth Management LLC bought a new position in Howmet Aerospace in the second quarter valued at about $244,000. 90.46% of the stock is owned by institutional investors and hedge funds.
Howmet Aerospace Trading Up 1.8%
The company has a market cap of $75.75 billion, a price-to-earnings ratio of 61.10, a PEG ratio of 2.71 and a beta of 1.43. The firm has a 50 day moving average price of $172.10 and a two-hundred day moving average price of $142.97. The company has a quick ratio of 1.07, a current ratio of 2.30 and a debt-to-equity ratio of 0.70.
Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business's quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.
Howmet Aerospace Company Profile
(
Get Free Report)
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.
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