Huntington Ingalls Industries (NYSE:HII) Sets New 1-Year Low – Here’s Why

Huntington Ingalls Industries, Inc. (NYSE:HII) reached a new 52-week low on Tuesday. The stock traded as low as $255.55 and last traded at $255.9540, with a volume of 125,850 shares traded. The stock had previously closed at $264.03.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HII shares. Sanford C. Bernstein dropped their price target on Huntington Ingalls Industries from $341.00 to $327.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 23rd. Wells Fargo & Company increased their price target on Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. TD Cowen decreased their price target on shares of Huntington Ingalls Industries from $360.00 to $340.00 and set a “buy” rating on the stock in a research note on Friday. Wolfe Research upgraded shares of Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 target price on the stock in a research report on Friday, July 31st. Finally, Citigroup increased their price target on Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $364.62.

Huntington Ingalls Industries Trading Down 2.5%

The company’s 50-day simple moving average is $289.13 and its 200 day simple moving average is $311.85. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $10.15 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.00 and a beta of 0.21.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $1.48. Huntington Ingalls Industries had a return on equity of 12.89% and a net margin of 5.01%. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm earned $3.86 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts expect that Huntington Ingalls Industries, Inc. will post 18.47 EPS for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.1%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 32.90%.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, CEO Christopher Kastner sold 13,070 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $324.92, for a total value of $4,246,704.40. Following the completion of the sale, the chief executive officer owned 11,224 shares of the company’s stock, valued at approximately $3,646,902.08. The trade was a 53.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Ingalls Industries

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Huntington Ingalls Industries during the second quarter worth about $944,877,000. State Street Corp increased its stake in Huntington Ingalls Industries by 8.4% in the second quarter. State Street Corp now owns 2,922,717 shares of the aerospace company’s stock valued at $818,039,000 after purchasing an additional 227,439 shares during the period. First Trust Advisors LP grew its holdings in shares of Huntington Ingalls Industries by 2.4% during the first quarter. First Trust Advisors LP now owns 832,452 shares of the aerospace company’s stock worth $316,249,000 after buying an additional 19,843 shares during the last quarter. Sei Investments Co. increased its position in Huntington Ingalls Industries by 2.3% in the 1st quarter. Sei Investments Co. now owns 471,429 shares of the aerospace company’s stock valued at $179,097,000 after acquiring an additional 10,406 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Huntington Ingalls Industries in the 2nd quarter valued at approximately $75,094,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc (NYSE:HII) is a U.S. defense company that designs, builds, maintains and modernizes military ships and provides technology services to government and defense customers. Its principal customers include the U.S. Navy, Marine Corps, Coast Guard, intelligence agencies and other federal organizations.

Through Newport News Shipbuilding, HII builds and services nuclear-powered aircraft carriers and supports the construction and maintenance of nuclear-powered submarines.