Howmet Aerospace (NYSE:HWM) Shares Gap Down – What’s Next?

Howmet Aerospace Inc. (NYSE:HWM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $127.46, but opened at $123.60. Howmet Aerospace shares last traded at $126.44, with a volume of 301,333 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on HWM shares. Truist Financial restated a “buy” rating and set a $140.00 price target (up from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Barclays upped their target price on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Wells Fargo & Company reiterated an “equal weight” rating and set a $118.00 price target (down from $132.00) on shares of Howmet Aerospace in a report on Tuesday. The Goldman Sachs Group boosted their price objective on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Northcoast Research raised Howmet Aerospace from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.50.

Howmet Aerospace Stock Down 0.4 %

The stock’s 50 day moving average is $128.63 and its 200 day moving average is $118.43. The company has a market capitalization of $50.24 billion, a PE ratio of 43.98, a PEG ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. On average, sell-side analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, May 9th. Howmet Aerospace’s payout ratio is presently 14.18%.

Institutional Investors Weigh In On Howmet Aerospace

A number of institutional investors and hedge funds have recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new stake in Howmet Aerospace during the 4th quarter worth approximately $25,000. Meeder Asset Management Inc. increased its holdings in shares of Howmet Aerospace by 208.1% in the fourth quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Howmet Aerospace in the fourth quarter worth $25,000. R Squared Ltd purchased a new stake in shares of Howmet Aerospace in the fourth quarter worth $26,000. Finally, Washington Trust Advisors Inc. bought a new stake in Howmet Aerospace during the fourth quarter valued at $29,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

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.