Howmet Aerospace: GARP Fundamentals, But Bearish Near-Term Chart Features

Summary

  • Defense equities continue to be a warm blanket for nervous investors.
  • Despite soft 2023 relative performance, you'll find impressive uptrends in many of the industry's individual charts.
  • With a low PEG ratio, shares look cheap for a GARP idea, but buying on a technical pullback could be the prudent play.

View of the wing and engine of a passenger aircraft and a landing airplane flying in the sky.

aapsky

The Aerospace & Defense industry has outperformed the S&P 500 by nearly 20 percentage points in the last year, but there has been recent relative weakness as growth has returned to favor. Still, a popular long-term thesis is that ongoing investment and reshoring should

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