Huntington Ingalls Industries (NYSE:HII) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Huntington Ingalls Industries (NYSE:HII) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other equities research analysts also recently issued reports on HII. The Goldman Sachs Group reiterated a “conviction-buy” rating and issued a $406.00 target price on shares of Huntington Ingalls Industries in a research note on Friday. Wells Fargo & Company upped their target price on Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Sanford C. Bernstein decreased their target price on Huntington Ingalls Industries from $327.00 to $304.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 14th. Wolfe Research upgraded shares of Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 target price on the stock in a research report on Friday, July 31st. Finally, TD Cowen decreased their price target on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $361.86.

Huntington Ingalls Industries Stock Performance

Shares of NYSE HII opened at $313.27 on Friday. Huntington Ingalls Industries has a 12 month low of $255.35 and a 12 month high of $460.00. The company has a market cap of $12.34 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.04 and a beta of 0.21. The business’s 50 day moving average is $278.31 and its two-hundred day moving average is $335.62. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Thursday, October 29th. The aerospace company reported $5.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.36 by $1.12. The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $3.68 EPS. On average, equities analysts expect that Huntington Ingalls Industries will post 18.60 EPS for the current year.

Huntington Ingalls Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 27th will be given a $1.41 dividend. The ex-dividend date is Friday, November 27th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 1.8%. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.38. Huntington Ingalls Industries’s dividend payout ratio is 29.71%.

Insider Activity at Huntington Ingalls Industries

In related news, CEO Christopher Kastner sold 13,070 shares of the firm’s stock in a transaction 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 sale, the chief executive officer owned 11,224 shares of the company’s stock, valued at $3,646,902.08. This trade represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Ingalls Industries

A number of institutional investors have recently bought and sold shares of HII. CenterBook Partners LP grew its holdings in Huntington Ingalls Industries by 120.0% during the 3rd quarter. CenterBook Partners LP now owns 12,473 shares of the aerospace company’s stock valued at $3,331,000 after buying an additional 6,803 shares in the last quarter. Kestra Advisory Services LLC lifted its position in Huntington Ingalls Industries by 1.8% during the third quarter. Kestra Advisory Services LLC now owns 30,192 shares of the aerospace company’s stock valued at $8,063,000 after purchasing an additional 537 shares during the last quarter. Pathway Financial Advisers LLC increased its holdings in shares of Huntington Ingalls Industries by 26.3% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,573 shares of the aerospace company’s stock worth $687,000 after buying an additional 536 shares during the last quarter. Covestor Ltd boosted its stake in Huntington Ingalls Industries by 216.9% during the third quarter. Covestor Ltd now owns 412 shares of the aerospace company’s stock worth $111,000 after buying an additional 282 shares during the period. Finally, Provenance Wealth Advisors LLC boosted its stake in shares of Huntington Ingalls Industries by 6,250.0% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 127 shares of the aerospace company’s stock worth $34,000 after purchasing an additional 125 shares during the period. 90.46% of the stock is owned by institutional investors.

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.