Bank of America Upgrades Huntington Ingalls Industries (NYSE:HII) to “Neutral”

Huntington Ingalls Industries (NYSE:HII) was upgraded by investment analysts at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Thursday, Marketbeat Ratings reports. The firm presently has a $400.00 price target on the aerospace company’s stock. Bank of America‘s target price suggests a potential upside of 1.71% from the stock’s previous close.

A number of other brokerages have also issued reports on HII. TD Cowen lifted their target price on shares of Huntington Ingalls Industries from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Melius Research raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. JPMorgan Chase & Co. boosted their target price on Huntington Ingalls Industries from $287.00 to $342.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. The Goldman Sachs Group raised their price target on Huntington Ingalls Industries from $384.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, January 20th. Finally, Citigroup lifted their price target on Huntington Ingalls Industries from $450.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $370.38.

Huntington Ingalls Industries Trading Down 1.5%

Shares of NYSE HII opened at $393.26 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Huntington Ingalls Industries has a one year low of $159.41 and a one year high of $436.14. The business has a 50-day moving average price of $374.49 and a two-hundred day moving average price of $316.93. The firm has a market capitalization of $15.43 billion, a PE ratio of 25.59, a PEG ratio of 1.68 and a beta of 0.34.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings results on Thursday, February 5th. The aerospace company reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.72 by $0.32. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.09 billion. Huntington Ingalls Industries had a net margin of 4.85% and a return on equity of 12.28%. The firm’s revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.15 earnings per share. As a group, analysts predict that Huntington Ingalls Industries will post 13.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Chad N. Boudreaux sold 787 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $314.17, for a total value of $247,251.79. Following the completion of the sale, the vice president directly owned 20,441 shares in the company, valued at approximately $6,421,948.97. The trade was a 3.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Edmond E. Jr. Hughes sold 850 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $315.44, for a total value of $268,124.00. Following the transaction, the vice president owned 8,731 shares in the company, valued at approximately $2,754,106.64. This trade represents a 8.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.72% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new stake in Huntington Ingalls Industries during the second quarter worth about $25,000. Rakuten Securities Inc. grew its holdings in shares of Huntington Ingalls Industries by 140.0% during the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. SouthState Corp increased its position in shares of Huntington Ingalls Industries by 310.0% during the second quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 93 shares during the period. Anchor Investment Management LLC raised its stake in shares of Huntington Ingalls Industries by 400.0% in the second quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Finally, NBC Securities Inc. lifted its position in Huntington Ingalls Industries by 87.2% in the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 41 shares during the period. Institutional investors own 90.46% of the company’s stock.

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.