Key Client Fiduciary Advisors LLC, a prominent investment management firm, recently acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM) during the second quarter of this year. According to the company’s disclosure with the Securities & Exchange Commission, the fund purchased 5,600 shares of Howmet Aerospace stock valued at approximately $278,000.
As an international leader in engineered metal products for aerospace and defense applications, Howmet Aerospace has drawn significant attention from analysts and researchers alike. Several research reports have analyzed the company’s prospects and recommended investing in its stock.
Bank of America, for example, raised the price target on Howmet Aerospace shares from $52.00 to $58.00 and bestowed a “buy” rating on the stock in a research report published on August 3rd this year. Similarly, Benchmark reaffirmed a “buy” rating with a target price of $53.00 for Howmet Aerospace shares in its research report released on August 2nd.
JPMorgan Chase & Co., another renowned financial institution, also increased their price target on Howmet Aerospace from $48.00 to $53.00 while giving the stock an “overweight” rating in their research report published on August 2nd. Additionally, Barclays raised their price objective for Howmet Aerospace shares from $52.00 to $57.00 and assigned an “overweight” rating to the company in their research report issued on August 8th.
Furthermore, Truist Financial expressed confidence in Howmet Aerospace by increasing their target price for its shares from $42.00 to $47.00 while maintaining a “hold” rating for the stock in their report published on July 21st.
Overall, eleven out of twelve research analysts have assigned a buy rating to Howmet Aerospace stock while one has given it a hold rating. According to data from Bloomberg, the stock currently holds an average rating of “Moderate Buy,” with an average price target of $52.08.
On Wednesday, September 20, shares of Howmet Aerospace opened at $47.12. The company boasts a debt-to-equity ratio of 1.07, indicating a balanced financial structure. Additionally, it has a current ratio of 2.22 and a quick ratio of 1.00both suggesting sufficient liquidity to meet short-term obligations.
In terms of performance indicators, Howmet Aerospace’s fifty-day moving average price stands at $49.06, while its two-hundred-day moving average price is $45.87. Furthermore, the stock has witnessed a one-year low of $30.59 and a one-year high of $51.34.
As for its market capitalization, Howmet Aerospace Inc.’s value is estimated at approximately $19.42 billionan impressive figure that highlights the company’s prominence in the industry.
When considering the stock’s valuation metrics, prospective investors may note that it currently trades at a price-to-earnings (P/E) ratio of 37.40 and holds a price-to-earnings-growth (PEG) ratio of 1.47a moderate valuation according to industry standards.
Moreover, the stock exhibits a beta coefficient of 1.43, implying that it tends to be more volatile than the market as a wholebut this factor does not diminish its potential for growth.
In conclusion, Key Client Fiduciary Advisors LLC’s recent purchase highlights the growing investor interest in Howmet Aerospace Inc., and research reports from reputable institutions further support this positive sentiment toward the company’s stock.
[bs_slider_forecast ticker=”BMO”]
Investor Changes, Executive Sales, Analyst Reports, and Quarterly Performance: A Close Look at Howmet Aerospace
In recent months, various large investors have made significant changes to their holdings of Howmet Aerospace (NYSE: HWM). US Bancorp DE, for instance, increased its position in the company by 9.7% during the first quarter and now holds 20,717 shares valued at $745,000. HighTower Advisors LLC also raised its holdings in Howmet Aerospace, witnessing a growth of 299.5% during the same period. The company now owns 31,892 shares valued at $1,147,000.
Panagora Asset Management Inc. felt compelled to lift its stake in Howmet Aerospace as well, with a 2.2% increase in the first quarter resulting in ownership of 31,230 shares worth $1,122,000. Similarly, Commonwealth of Pennsylvania Public School Empls Retrmt SYS now possesses 50,781 shares valued at $1,825,000 after experiencing a 5.2% growth rate.
Another institution that recognized potential is APG Asset Management N.V., which boosted its holdings by an encouraging 4%. The company presently has 20,900 Howmet Aerospace shares worth $675,000 under its name. It is important to note that hedge funds and other institutional investors collectively own a dominant majority (88.67%) of Howmet Aerospace’s stock.
On another note concerning major developments within the company itself is the sale of stock by EVP Neil Edward Marchuk on August 9th. Marchuk sold an impressive tally of 80,000 shares at an average price of $50.06 per share amounting to a total value of $4,004,800.
Despite this substantial transaction signaling executive insider activity and potentially raising questions for investors about future direction or strategic objectives for Howmet Aerospace, it should be noted that insiders overall own only a modest percentage (1.23%) of the company’s stock.
Regarding research and analysis, Howmet Aerospace has been the subject of several research reports. Bank of America recently raised its price target for the stock from $52.00 to $58.00 and provided a “buy” rating in its research report on Thursday, August 3rd. Benchmark reaffirmed a “buy” rating while setting a target price of $53.00 in their research report on Wednesday, August 2nd.
JPMorgan Chase & Co., however, took a more bullish stance by increasing their price target from $48.00 to $53.00 and assigning an “overweight” rating to Howmet Aerospace’s stock in their research report, which was also released on August 2nd.
Barclays followed suit by raising their price objective from $52.00 to $57.00 and granting the company an “overweight” rating in their research report on Tuesday, August 8th.
Meanwhile, citing data from Bloomberg, it is revealed that one analyst holds a neutral perspective by giving the stock a “hold” rating; however, there are eleven analysts who have assigned a “buy” rating to Howmet Aerospace’s stock on average.
Howmet Aerospace released its quarterly earnings results on Tuesday, August 1st. The company announced earnings per share (EPS) of $0.44 for the quarter – surpassing analysts’ consensus estimate of $0.43 by $0.01.
Additionally, the company reported quarterly revenue of $1.65 billion – slightly higher than analysts’ expectations of $1.61 billion.
Notably, Howmet Aerospace demonstrated impressive returns during this period with a return on equity of 18.83% and a net margin of 8.58%.
Analysts specializing in equities predict that Howmet Aerospace will post an EPS of 1.73 for the current year as per Bloomberg data.
The firm also declared its most recent quarterly dividend payment to shareholders on Friday, August 25th. Shareholders of record on Friday, August 4th received a dividend of $0.04 per share.
This dividend equates to an annualized payout ratio of 12.70% and a yield of 0.34%. The ex-dividend date was Thursday, August 3rd.
Despite the complexities of investor modifications and executive stock sales, along with robust research reports and noteworthy quarterly performance results, Howmet Aerospace continues to navigate the industry with persistence and strength in an ever-evolving market.
