Huntington Ingalls Industries (NYSE:HII) Price Target Raised to $375.00

Huntington Ingalls Industries (NYSE:HII) had its target price hoisted by JPMorgan Chase & Co. from $370.00 to $375.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the aerospace company’s stock.

A number of other equities research analysts also recently commented on the company. Wall Street Zen upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Citigroup increased their target price on Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings upgraded Huntington Ingalls Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 31st. TD Cowen decreased their target price on Huntington Ingalls Industries from $360.00 to $340.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Finally, Wolfe Research upgraded Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 target price for the company in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $369.50.

Huntington Ingalls Industries Stock Performance

Shares of Huntington Ingalls Industries stock opened at $289.79 on Tuesday. The firm has a fifty day moving average of $278.88 and a two-hundred day moving average of $333.88. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.11 and a beta of 0.17. Huntington Ingalls Industries has a 52 week low of $255.35 and a 52 week high of $460.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.18 and a current ratio of 1.26.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings results on Thursday, October 29th. The aerospace company reported $5.48 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $1.12. Huntington Ingalls Industries had a return on equity of 13.95% and a net margin of 5.42%. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the business posted $3.68 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, equities research analysts predict that Huntington Ingalls Industries will post 18.82 EPS for the current year.

Huntington Ingalls Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 27th will be issued a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 1.9%. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.38. The ex-dividend date is Friday, November 27th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 29.71%.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, CEO Christopher Kastner sold 13,070 shares of the business’s stock in a transaction on Monday, August 10th. The shares were 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 owned 11,224 shares of the company’s stock, valued at $3,646,902.08. The trade was a 53.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Huntington Ingalls Industries

Several hedge funds have recently added to or reduced their stakes in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Huntington Ingalls Industries during the second quarter worth about $2,376,000. Corient Private Wealth LP lifted its holdings in shares of Huntington Ingalls Industries by 51.5% during the 2nd quarter. Corient Private Wealth LP now owns 25,114 shares of the aerospace company’s stock valued at $7,029,000 after purchasing an additional 8,532 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Huntington Ingalls Industries during the 2nd quarter valued at about $75,094,000. Meeder Asset Management Inc. grew its position in shares of Huntington Ingalls Industries by 102.3% in the 1st quarter. Meeder Asset Management Inc. now owns 13,009 shares of the aerospace company’s stock valued at $4,942,000 after purchasing an additional 6,579 shares during the period. Finally, WCM Investment Management LLC acquired a new position in shares of Huntington Ingalls Industries in the 1st quarter valued at approximately $16,291,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc (NYSE:HII) is an American defense company that designs, builds, maintains and modernizes ships for the U.S. Navy and other government customers. Its shipbuilding activities include nuclear-powered aircraft carriers, submarines, amphibious assault ships, destroyers and other surface vessels, along with fleet sustainment and modernization services.

HII operates through its Newport News Shipbuilding and Ingalls Shipbuilding divisions. Newport News Shipbuilding is involved in the construction and maintenance of nuclear-powered aircraft carriers and submarines, while Ingalls Shipbuilding builds surface combatants and amphibious ships.