Shares of Howmet Aerospace Inc. (NYSE:HWM – Get Rating) hit a new 52-week high during trading on Tuesday after Morgan Stanley raised their price target on the stock from $45.00 to $47.00. Morgan Stanley currently has an overweight rating on the stock. Howmet Aerospace traded as high as $39.77 and last traded at $39.47, with a volume of 12367 shares trading hands. The stock had previously closed at $38.88.

A number of other analysts have also commented on the company. Wells Fargo & Company lifted their price target on Howmet Aerospace from $40.00 to $43.00 and gave the company an "overweight" rating in a research note on Wednesday, November 9th. KeyCorp lifted their price target on Howmet Aerospace from $38.00 to $39.00 and gave the company an "overweight" rating in a research note on Tuesday, November 1st. Bank of America started coverage on Howmet Aerospace in a research note on Monday, October 10th. They set a "buy" rating and a $40.00 price target on the stock. Wolfe Research reaffirmed an "outperform" rating and issued a $44.00 price objective on shares of Howmet Aerospace in a research note on Tuesday, October 11th. Finally, Vertical Research cut their price objective on Howmet Aerospace to $45.00 in a research note on Friday, November 4th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Howmet Aerospace presently has an average rating of "Moderate Buy" and a consensus price target of $41.22.

Hedge Funds Weigh In On Howmet Aerospace

Several institutional investors have recently added to or reduced their stakes in HWM. Bessemer Group Inc. lifted its stake in Howmet Aerospace by 46,868.0% in the third quarter. Bessemer Group Inc. now owns 5,192,316 shares of the company's stock valued at $160,596,000 after buying an additional 5,181,261 shares during the period. BlackRock Inc. increased its holdings in shares of Howmet Aerospace by 10.9% during the first quarter. BlackRock Inc. now owns 39,523,278 shares of the company's stock valued at $1,420,466,000 after acquiring an additional 3,870,223 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Howmet Aerospace by 219.4% during the first quarter. JPMorgan Chase & Co. now owns 3,400,152 shares of the company's stock valued at $122,203,000 after acquiring an additional 2,335,681 shares in the last quarter. Prudential Financial Inc. increased its holdings in shares of Howmet Aerospace by 605.0% during the second quarter. Prudential Financial Inc. now owns 2,323,840 shares of the company's stock valued at $72,814,000 after acquiring an additional 1,994,197 shares in the last quarter. Finally, Ceredex Value Advisors LLC bought a new stake in shares of Howmet Aerospace during the second quarter valued at approximately $61,584,000. 90.86% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Stock Performance

Howmet Aerospace (NYSE:HWM – Get Rating) last released its quarterly earnings data on Monday, October 31st. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.44 billion. Howmet Aerospace had a return on equity of 16.76% and a net margin of 8.00%. The company's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. On average, equities analysts expect that Howmet Aerospace Inc. will post 1.4 EPS for the current year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 4th were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, November 3rd. This represents a $0.16 annualized dividend and a yield of 0.41%. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.02. Howmet Aerospace's dividend payout ratio is 15.53%.

About Howmet Aerospace

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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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