KeyCorp Lowers Howmet Aerospace (NYSE:HWM) to Sector Weight

KeyCorp downgraded shares of Howmet Aerospace (NYSE:HWM) from an overweight rating to a sector weight rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports.

A number of other research analysts also recently commented on the company. Truist Financial increased their price target on Howmet Aerospace from $105.00 to $123.00 and gave the company a “buy” rating in a report on Friday, October 18th. Robert W. Baird increased their target price on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. BTIG Research lifted their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Benchmark upped their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Susquehanna began coverage on shares of Howmet Aerospace in a report on Tuesday, October 8th. They set a “positive” rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.50.

Howmet Aerospace Stock Up 0.8 %

Shares of NYSE:HWM opened at $101.39 on Thursday. The company has a market capitalization of $41.39 billion, a price-to-earnings ratio of 48.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The company has a 50 day moving average of $98.79 and a two-hundred day moving average of $86.61. Howmet Aerospace has a 52-week low of $42.94 and a 52-week high of $106.93. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 EPS. As a group, analysts forecast that Howmet Aerospace will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s dividend payout ratio (DPR) is 15.46%.

Insider Buying and Selling

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction 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 directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares in the company, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC acquired a new position in Howmet Aerospace during the 1st quarter worth $263,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Howmet Aerospace by 2.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,746 shares of the company’s stock worth $872,000 after purchasing an additional 246 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Howmet Aerospace by 16.3% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 23,508 shares of the company’s stock valued at $1,609,000 after buying an additional 3,299 shares in the last quarter. Oak Thistle LLC increased its stake in Howmet Aerospace by 8.3% during the 1st quarter. Oak Thistle LLC now owns 8,150 shares of the company’s stock valued at $558,000 after buying an additional 626 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Howmet Aerospace by 16.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 141,223 shares of the company’s stock worth $9,664,000 after buying an additional 19,431 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

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.