Huntington Ingalls Industries (NYSE:HII – Free Report) had its price target lowered by TD Cowen from $360.00 to $340.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the aerospace company’s stock.
Several other analysts also recently commented on the stock. 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. Wells Fargo & Company upped their target price on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. Citigroup upped their target price on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Sanford C. Bernstein cut their price target on Huntington Ingalls Industries from $341.00 to $327.00 and set a “market perform” rating for the company in a research note on Wednesday, September 23rd. Finally, Weiss Ratings raised Huntington Ingalls Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 31st. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $364.62.
Read Our Latest Report on Huntington Ingalls Industries
Huntington Ingalls Industries Price Performance
Huntington Ingalls Industries (NYSE:HII – Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $1.48. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The company’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.86 earnings per share. As a group, research analysts anticipate that Huntington Ingalls Industries will post 18.47 earnings per share for the current year.
Huntington Ingalls Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 28th were issued a $1.38 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $5.52 dividend on an annualized basis and a yield of 2.1%. Huntington Ingalls Industries’s payout ratio is currently 32.90%.
Insiders Place Their Bets
In other Huntington Ingalls Industries news, CEO Christopher Kastner sold 13,070 shares of the company’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 transaction, the chief executive officer directly owned 11,224 shares in the company, valued at $3,646,902.08. This represents a 53.80% decrease in their position. The transaction was disclosed in a document filed 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 Investors Weigh In On Huntington Ingalls Industries
Institutional investors have recently added to or reduced their stakes in the stock. RFG Bristol Wealth Advisors LLC increased its holdings in shares of Huntington Ingalls Industries by 27.4% in the third quarter. RFG Bristol Wealth Advisors LLC now owns 1,781 shares of the aerospace company’s stock worth $476,000 after purchasing an additional 383 shares during the last quarter. Insight Wealth Strategies LLC lifted its position in shares of Huntington Ingalls Industries by 2.2% in the third quarter. Insight Wealth Strategies LLC now owns 22,969 shares of the aerospace company’s stock worth $6,134,000 after buying an additional 485 shares in the last quarter. O Keefe Stevens Advisory Inc. lifted its position in shares of Huntington Ingalls Industries by 13.1% in the third quarter. O Keefe Stevens Advisory Inc. now owns 7,465 shares of the aerospace company’s stock worth $1,994,000 after buying an additional 862 shares in the last quarter. GAMMA Investing LLC boosted its stake in Huntington Ingalls Industries by 15.3% during the third quarter. GAMMA Investing LLC now owns 3,523 shares of the aerospace company’s stock valued at $941,000 after buying an additional 467 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Huntington Ingalls Industries by 16.6% during the third quarter. Farther Finance Advisors LLC now owns 1,428 shares of the aerospace company’s stock valued at $381,000 after buying an additional 203 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.
About Huntington Ingalls Industries
Huntington Ingalls Industries, Inc (NYSE:HII) is a U.S. defense company that designs, builds, maintains and modernizes military ships and provides technology services to government and defense customers. Its principal customers include the U.S. Navy, Marine Corps, Coast Guard, intelligence agencies and other federal organizations.
Through Newport News Shipbuilding, HII builds and services nuclear-powered aircraft carriers and supports the construction and maintenance of nuclear-powered submarines.
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