Huntington Ingalls Industries (NYSE:HII) Price Target Raised to $425.00 at The Goldman Sachs Group

Huntington Ingalls Industries (NYSE:HII) had its price target upped by stock analysts at The Goldman Sachs Group from $384.00 to $425.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 1.32% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Sanford C. Bernstein reiterated a “market perform” rating and issued a $362.00 price target on shares of Huntington Ingalls Industries in a report on Friday, November 7th. Melius raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Citigroup raised their price objective on Huntington Ingalls Industries from $376.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Wall Street Zen raised shares of Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Finally, JPMorgan Chase & Co. boosted their price target on Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Huntington Ingalls Industries has an average rating of “Hold” and an average target price of $343.63.

Huntington Ingalls Industries Stock Performance

NYSE:HII traded down $6.42 during trading hours on Tuesday, hitting $419.48. 329,610 shares of the company were exchanged, compared to its average volume of 685,650. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.14 and a quick ratio of 1.06. Huntington Ingalls Industries has a 52-week low of $158.88 and a 52-week high of $432.00. The stock has a market capitalization of $16.46 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 1.72 and a beta of 0.36. The company’s 50 day moving average price is $340.10 and its 200-day moving average price is $298.59.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Thursday, October 30th. The aerospace company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $3.29 by $0.39. Huntington Ingalls Industries had a net margin of 4.74% and a return on equity of 11.79%. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period in the previous year, the company earned $2.56 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts forecast that Huntington Ingalls Industries will post 13.99 earnings per share for the current year.

Insider Activity

In other Huntington Ingalls Industries news, CEO Christopher D. Kastner sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $321.06, for a total transaction of $4,815,900.00. Following the completion of the sale, the chief executive officer owned 68,139 shares of the company’s stock, valued at $21,876,707.34. This trade represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nicolas G. Schuck sold 466 shares of Huntington Ingalls Industries stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $314.36, for a total value of $146,491.76. Following the completion of the sale, the chief accounting officer owned 2,418 shares in the company, valued at $760,122.48. This represents a 16.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 17,103 shares of company stock worth $5,477,768. Corporate insiders own 0.86% of the company’s stock.

Institutional Trading of Huntington Ingalls Industries

A number of hedge funds and other institutional investors have recently modified their holdings of HII. CYBER HORNET ETFs LLC purchased a new position in Huntington Ingalls Industries in the 2nd quarter valued at approximately $25,000. Rakuten Securities Inc. increased its holdings in Huntington Ingalls Industries by 140.0% during the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 63 shares during the period. SouthState Corp grew its position in shares of Huntington Ingalls Industries by 310.0% during the second quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock worth $30,000 after buying an additional 93 shares in the last quarter. Anchor Investment Management LLC raised its holdings in Huntington Ingalls Industries by 400.0% in the second quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Huntington Ingalls Industries by 120.0% in the third quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 60 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.