Huntington Ingalls Industries (HII) Trading Down 6%

Huntington Ingalls Industries Inc (NYSE:HII) shares traded down 6% during mid-day trading on Thursday . The company traded as low as $232.28 and last traded at $233.08. 650,022 shares were traded during trading, an increase of 36% from the average session volume of 476,722 shares. The stock had previously closed at $247.91.

A number of research analysts recently issued reports on the stock. Goldman Sachs Group cut shares of Huntington Ingalls Industries from a “neutral” rating to a “sell” rating and set a $208.00 price target for the company. in a research report on Thursday. Buckingham Research initiated coverage on shares of Huntington Ingalls Industries in a research report on Wednesday, September 12th. They set a “buy” rating and a $297.00 price target for the company. Vertical Research initiated coverage on shares of Huntington Ingalls Industries in a research note on Tuesday, June 26th. They set a “buy” rating for the company. Zacks Investment Research upgraded shares of Huntington Ingalls Industries from a “sell” rating to a “hold” rating and set a $262.00 price objective for the company in a research note on Friday, August 3rd. Finally, ValuEngine lowered shares of Huntington Ingalls Industries from a “hold” rating to a “sell” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Huntington Ingalls Industries presently has an average rating of “Hold” and an average target price of $265.33.

The company has a market cap of $11.09 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 0.99 and a beta of 0.99. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 1.43.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings data on Thursday, August 2nd. The aerospace company reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $1.19. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.88 billion. Huntington Ingalls Industries had a net margin of 7.84% and a return on equity of 39.78%. Huntington Ingalls Industries’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the business earned $3.21 EPS. Equities analysts forecast that Huntington Ingalls Industries Inc will post 17.24 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were paid a $0.72 dividend. The ex-dividend date was Thursday, August 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.27%. Huntington Ingalls Industries’s dividend payout ratio is presently 23.72%.

In other news, VP Jerri F. Dickseski sold 271 shares of Huntington Ingalls Industries stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $257.84, for a total value of $69,874.64. Following the completion of the sale, the vice president now directly owns 34,750 shares in the company, valued at $8,959,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.32% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. FMR LLC grew its stake in shares of Huntington Ingalls Industries by 18.5% in the second quarter. FMR LLC now owns 3,813,494 shares of the aerospace company’s stock worth $826,727,000 after acquiring an additional 595,334 shares during the period. Bank of Montreal Can bought a new stake in shares of Huntington Ingalls Industries in the second quarter worth approximately $185,624,000. Wells Fargo & Company MN grew its stake in shares of Huntington Ingalls Industries by 10.0% in the second quarter. Wells Fargo & Company MN now owns 800,478 shares of the aerospace company’s stock worth $173,535,000 after acquiring an additional 72,743 shares during the period. Boston Partners grew its stake in shares of Huntington Ingalls Industries by 2.5% in the second quarter. Boston Partners now owns 589,518 shares of the aerospace company’s stock worth $127,802,000 after acquiring an additional 14,395 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Huntington Ingalls Industries by 537.7% in the first quarter. Millennium Management LLC now owns 354,169 shares of the aerospace company’s stock worth $91,291,000 after acquiring an additional 298,629 shares during the period. Hedge funds and other institutional investors own 85.63% of the company’s stock.

About Huntington Ingalls Industries (NYSE:HII)

Huntington Ingalls Industries, Inc engages in the designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships that include deck amphibious ships and transport dock ships; surface combatants; and national security cutters for the U.S.

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