Huntington Ingalls Industries (NYSE:HII) Stock Price Up 6.3% – Here’s Why

Shares of Huntington Ingalls Industries, Inc. (NYSE:HII) traded up 6.3% during trading on Thursday . The stock traded as high as $293.21 and last traded at $294.8240. Approximately 46,863 shares were traded during trading, a decline of 91% from the average daily volume of 531,557 shares. The stock had previously closed at $277.28.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HII shares. Citigroup decreased their price objective on shares of Huntington Ingalls Industries from $405.00 to $349.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. TD Cowen dropped their target price on Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Weiss Ratings lowered Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Wall Street Zen cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, Wells Fargo & Company assumed coverage on Huntington Ingalls Industries in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 price target on the stock. Four analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $374.00.

Huntington Ingalls Industries Stock Performance

The company has a market cap of $11.32 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.15 and a beta of 0.25. The firm’s fifty day moving average is $294.66 and its 200 day moving average is $362.46. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.09. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the firm posted $3.79 earnings per share. The company’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts predict that Huntington Ingalls Industries, Inc. will post 17.31 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, May 29th. Huntington Ingalls Industries’s dividend payout ratio is 35.91%.

Insiders Place Their Bets

In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of Huntington Ingalls Industries stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $319.58, for a total value of $1,118,530.00. Following the sale, the vice president directly owned 8,391 shares in the company, valued at approximately $2,681,595.78. The trade was a 29.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On Huntington Ingalls Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new position in Huntington Ingalls Industries in the 2nd quarter valued at $25,000. Rakuten Securities Inc. boosted its stake 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 last quarter. Bayban acquired a new stake in Huntington Ingalls Industries during the 1st quarter worth $27,000. NBC Securities Inc. boosted its stake in Huntington Ingalls Industries by 87.2% during the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Huntington Ingalls Industries by 363.3% during the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company’s stock worth $33,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

About Huntington Ingalls Industries

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.