JPMorgan Chase & Co. Downgrades Huntington Ingalls Industries (NYSE:HII) to Neutral

JPMorgan Chase & Co. downgraded shares of Huntington Ingalls Industries (NYSE:HII) from an overweight rating to a neutral rating in a research note issued to investors on Monday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $285.00 price objective on the aerospace company’s stock, up from their prior price objective of $280.00.

Separately, Citigroup initiated coverage on shares of Huntington Ingalls Industries in a report on Monday, May 20th. They set a buy rating and a $310.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $275.50.

Huntington Ingalls Industries Stock Up 0.3 %

NYSE:HII opened at $258.32 on Monday. The firm’s 50 day simple moving average is $266.19 and its 200 day simple moving average is $267.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.82 and a quick ratio of 0.76. Huntington Ingalls Industries has a one year low of $199.11 and a one year high of $299.50. The company has a market cap of $10.19 billion, a PE ratio of 14.56, a P/E/G ratio of 2.35 and a beta of 0.52.

Huntington Ingalls Industries (NYSE:HII) last posted its earnings results on Thursday, August 1st. The aerospace company reported $4.38 EPS for the quarter, topping the consensus estimate of $3.61 by $0.77. Huntington Ingalls Industries had a net margin of 6.35% and a return on equity of 18.55%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the company earned $3.27 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. On average, research analysts anticipate that Huntington Ingalls Industries will post 16.55 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $1.30 dividend. The ex-dividend date is Friday, August 30th. This represents a $5.20 annualized dividend and a dividend yield of 2.01%. Huntington Ingalls Industries’s dividend payout ratio is currently 29.31%.

Institutional Trading of Huntington Ingalls Industries

Hedge funds have recently modified their holdings of the stock. Riverview Trust Co bought a new stake in shares of Huntington Ingalls Industries in the 1st quarter valued at $30,000. American National Bank bought a new stake in shares of Huntington Ingalls Industries in the 1st quarter valued at $30,000. Fidelis Capital Partners LLC bought a new stake in shares of Huntington Ingalls Industries in the 1st quarter valued at $31,000. Larson Financial Group LLC increased its stake in shares of Huntington Ingalls Industries by 158.5% in the 1st quarter. Larson Financial Group LLC now owns 106 shares of the aerospace company’s stock valued at $31,000 after acquiring an additional 65 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Huntington Ingalls Industries during the 2nd quarter valued at $26,000. Institutional investors own 90.46% of the company’s stock.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.