Howmet Aerospace (NYSE:HWM) Stock Price Expected to Rise, Bank of America Analyst Says

Howmet Aerospace (NYSE:HWM) had its price objective hoisted by research analysts at Bank of America from $100.00 to $135.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 19.21% from the company’s current price.

A number of other analysts have also recently commented on HWM. BTIG Research upped their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. KeyCorp cut Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Susquehanna raised their price objective on Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Truist Financial raised their price objective on Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Robert W. Baird raised their target price on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $115.41.

Howmet Aerospace Stock Performance

HWM stock opened at $113.25 on Wednesday. The business’s fifty day moving average is $101.58 and its 200-day moving average is $90.48. 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 company has a market cap of $46.01 billion, a P/E ratio of 43.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.46. Howmet Aerospace has a twelve month low of $51.22 and a twelve month high of $116.74.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The trade was a 49.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. The trade was a 43.25 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Howmet Aerospace

A number of hedge funds have recently modified their holdings of the business. True Wealth Design LLC lifted its holdings in shares of Howmet Aerospace by 4,836.8% during the third quarter. True Wealth Design LLC now owns 938 shares of the company’s stock worth $94,000 after purchasing an additional 919 shares during the period. Captrust Financial Advisors boosted its stake in Howmet Aerospace by 25.2% in the third quarter. Captrust Financial Advisors now owns 23,802 shares of the company’s stock valued at $2,386,000 after acquiring an additional 4,787 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Howmet Aerospace by 2.2% in the third quarter. Hantz Financial Services Inc. now owns 27,262 shares of the company’s stock valued at $2,733,000 after acquiring an additional 599 shares during the last quarter. Vinva Investment Management Ltd boosted its stake in Howmet Aerospace by 186.5% in the third quarter. Vinva Investment Management Ltd now owns 46,525 shares of the company’s stock valued at $4,616,000 after acquiring an additional 30,285 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Howmet Aerospace by 36.8% in the third quarter. Public Sector Pension Investment Board now owns 20,455 shares of the company’s stock valued at $2,051,000 after acquiring an additional 5,500 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Company Profile

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.