The Goldman Sachs Group Increases Howmet Aerospace (NYSE:HWM) Price Target to $87.00

Howmet Aerospace (NYSE:HWM - Get Free Report) had its target price upped by stock analysts at The Goldman Sachs Group from $77.00 to $87.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's price target indicates a potential upside of 10.29% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird upped their price target on Howmet Aerospace from $74.00 to $84.00 and gave the stock an "outperform" rating in a report on Friday. Benchmark reaffirmed a "buy" rating and issued a $53.00 price target on shares of Howmet Aerospace in a report on Friday, April 19th. Barclays increased their target price on Howmet Aerospace from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 20th. Truist Financial increased their target price on Howmet Aerospace from $74.00 to $88.00 and gave the company a "buy" rating in a report on Friday. Finally, KeyCorp increased their target price on Howmet Aerospace from $60.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $69.77.

Howmet Aerospace Stock Performance

Shares of HWM stock traded up $1.78 on Friday, hitting $78.88. The company had a trading volume of 6,147,895 shares, compared to its average volume of 3,471,711. The firm has a market cap of $32.21 billion, a P/E ratio of 43.22, a price-to-earnings-growth ratio of 1.74 and a beta of 1.41. The company has a 50-day moving average price of $66.44 and a 200-day moving average price of $57.73. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. Howmet Aerospace has a twelve month low of $42.17 and a twelve month high of $79.47.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.74 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The company's revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. As a group, equities research analysts predict that Howmet Aerospace will post 2.18 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.12% of the company's stock.

Institutional Investors Weigh In On Howmet Aerospace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Howmet Aerospace by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company's stock worth $2,448,804,000 after purchasing an additional 1,274,974 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Howmet Aerospace by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 23,507,379 shares of the company's stock worth $1,087,216,000 after buying an additional 897,463 shares during the period. FMR LLC boosted its stake in shares of Howmet Aerospace by 21.2% during the third quarter. FMR LLC now owns 15,086,149 shares of the company's stock worth $697,734,000 after buying an additional 2,635,894 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Howmet Aerospace by 118.7% during the third quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company's stock worth $612,307,000 after buying an additional 7,184,620 shares during the period. Finally, Norges Bank acquired a new stake in shares of Howmet Aerospace during the fourth quarter worth about $508,006,000. Hedge funds and other 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.

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