Huntington Ingalls Industries (NYSE:HII) Price Target Raised to $352.00

Huntington Ingalls Industries (NYSE:HII) had its target price hoisted by Sanford C. Bernstein from $304.00 to $352.00 in a research note released on Tuesday morning,Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the aerospace company’s stock.

A number of other equities analysts have also recently commented on the stock. TD Cowen cut their price target on shares of Huntington Ingalls Industries from $360.00 to $340.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Citigroup raised their price objective on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Wolfe Research upgraded shares of Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price objective on the stock in a research report on Friday, July 31st. Wall Street Zen raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Finally, The Goldman Sachs Group reiterated a “conviction-buy” rating and issued a $406.00 target price on shares of Huntington Ingalls Industries in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $369.50.

Huntington Ingalls Industries Stock Down 4.7%

Shares of NYSE HII opened at $289.79 on Tuesday. Huntington Ingalls Industries has a 12 month low of $255.35 and a 12 month high of $460.00. The company has a current ratio of 1.26, a quick ratio of 1.18 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $11.42 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.11 and a beta of 0.17. The business has a 50-day moving average of $278.88 and a 200-day moving average of $333.88.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings data on Thursday, October 29th. The aerospace company reported $5.48 earnings per share for the quarter, topping the consensus estimate of $4.36 by $1.12. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Huntington Ingalls Industries had a net margin of 5.42% and a return on equity of 13.95%. Huntington Ingalls Industries’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.68 earnings per share. Sell-side analysts expect that Huntington Ingalls Industries will post 18.82 earnings per share for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 27th will be issued a dividend of $1.41 per share. The ex-dividend date of this dividend is Friday, November 27th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $1.38. Huntington Ingalls Industries’s payout ratio is 29.71%.

Insiders Place Their Bets

In related news, CEO Christopher Kastner sold 13,070 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was 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 in the company, valued at $3,646,902.08. The trade was a 53.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Huntington Ingalls Industries in the 2nd quarter worth approximately $944,877,000. State Street Corp grew its position in shares of Huntington Ingalls Industries by 8.4% in the 2nd quarter. State Street Corp now owns 2,922,717 shares of the aerospace company’s stock worth $818,039,000 after buying an additional 227,439 shares during the last quarter. First Trust Advisors LP grew its position in shares of Huntington Ingalls Industries by 2.4% in the 1st 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 stake in shares of Huntington Ingalls Industries by 2.3% during the first quarter. Sei Investments Co. now owns 471,429 shares of the aerospace company’s stock valued at $179,097,000 after buying 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 during the second quarter valued at approximately $75,094,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc (NYSE:HII) is an American defense company that designs, builds, maintains and modernizes ships for the U.S. Navy and other government customers. Its shipbuilding activities include nuclear-powered aircraft carriers, submarines, amphibious assault ships, destroyers and other surface vessels, along with fleet sustainment and modernization services.

HII operates through its Newport News Shipbuilding and Ingalls Shipbuilding divisions. Newport News Shipbuilding is involved in the construction and maintenance of nuclear-powered aircraft carriers and submarines, while Ingalls Shipbuilding builds surface combatants and amphibious ships.