Huntington Ingalls Industries (NYSE:HII) Sets New 52-Week High – Here’s Why

Huntington Ingalls Industries, Inc. (NYSE:HII) hit a new 52-week high on Thursday . The company traded as high as $436.14 and last traded at $424.2810, with a volume of 102453 shares traded. The stock had previously closed at $425.39.

Analyst Upgrades and Downgrades

Several analysts have commented on HII shares. Melius Research raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Wall Street Zen raised shares of Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a research report on Sunday, January 18th. JPMorgan Chase & Co. increased their price objective on Huntington Ingalls Industries from $287.00 to $342.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. The Goldman Sachs Group boosted their target price 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, TD Cowen increased their price target on Huntington Ingalls Industries from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $343.63.

Huntington Ingalls Industries Stock Up 0.4%

The company has a quick ratio of 1.06, a current ratio of 1.14 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $16.76 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 1.70 and a beta of 0.36. The business’s 50-day moving average is $354.99 and its 200-day moving average is $306.44.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings data on Thursday, October 30th. The aerospace company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.29 by $0.39. Huntington Ingalls Industries had a net margin of 4.74% and a return on equity of 11.79%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $2.56 EPS. Huntington Ingalls Industries’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current year.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, CAO Nicolas G. Schuck sold 466 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $314.36, for a total transaction of $146,491.76. Following the sale, the chief accounting officer directly owned 2,418 shares in the company, valued at $760,122.48. This represents a 16.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher D. Kastner sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $321.06, for a total transaction of $4,815,900.00. Following the completion of the transaction, the chief executive officer directly owned 68,139 shares of the company’s stock, valued at $21,876,707.34. This represents a 18.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,103 shares of company stock valued at $5,477,768. Insiders own 0.86% of the company’s stock.

Institutional Trading of Huntington Ingalls Industries

Several hedge funds have recently modified their holdings of the stock. NBC Securities Inc. raised its position in Huntington Ingalls Industries by 87.2% in the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Huntington Ingalls Industries in the second quarter worth approximately $25,000. Rakuten Securities Inc. grew its holdings in 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 acquiring an additional 63 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Huntington Ingalls Industries by 120.0% in the 3rd quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 60 shares during the last quarter. Finally, Community Bank N.A. purchased a new stake in shares of Huntington Ingalls Industries during the 3rd quarter worth $35,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

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.