Huntington Ingalls Industries (NYSE:HII – Get Free Report) had its price target lowered by equities researchers at TD Cowen from $420.00 to $360.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the aerospace company’s stock. TD Cowen’s target price points to a potential upside of 26.53% from the company’s previous close.
Other research analysts have also issued research reports about the company. Wells Fargo & Company assumed coverage on Huntington Ingalls Industries in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 target price on the stock. Citigroup lowered their price objective on shares of Huntington Ingalls Industries from $405.00 to $349.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings cut shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $374.00.
Check Out Our Latest Analysis on HII
Huntington Ingalls Industries Stock Down 0.6%
Huntington Ingalls Industries (NYSE:HII – Get Free Report) last posted its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.09. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the business earned $3.79 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, analysts forecast that Huntington Ingalls Industries will post 17.31 earnings per share for the current fiscal year.
Insider Activity
In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the firm’s stock in a transaction on 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 completion of the transaction, the vice president owned 8,391 shares in the company, valued at $2,681,595.78. This trade represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.80% of the company’s stock.
Institutional Investors Weigh In On Huntington Ingalls Industries
A number of hedge funds and other institutional investors have recently modified their holdings of HII. Northwestern Mutual Wealth Management Co. raised its position in shares of Huntington Ingalls Industries by 38,526.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company’s stock worth $675,572,000 after buying an additional 1,981,424 shares during the period. Van ECK Associates Corp increased its stake in Huntington Ingalls Industries by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company’s stock worth $560,004,000 after acquiring an additional 400,428 shares during the last quarter. Geode Capital Management LLC increased its stake in Huntington Ingalls Industries by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,116,501 shares of the aerospace company’s stock worth $379,098,000 after acquiring an additional 56,618 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Huntington Ingalls Industries by 85.0% in the 4th quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company’s stock worth $369,186,000 after purchasing an additional 498,690 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Huntington Ingalls Industries by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 978,365 shares of the aerospace company’s stock worth $332,717,000 after purchasing an additional 11,743 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.
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.
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