Wells Fargo & Co. Reiterates “Hold” Rating for Huntington Ingalls Industries Inc. (HII)
Huntington Ingalls Industries Inc. (NYSE:HII)‘s stock had its “hold” rating reiterated by equities researchers at Wells Fargo & Co. in a report released on Monday.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. Cowen and Company lowered shares of Huntington Ingalls Industries from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $185.00 to $165.00 in a research report on Tuesday, September 20th. Finally, Citigroup Inc. boosted their price target on shares of Huntington Ingalls Industries from $180.00 to $191.00 and gave the company a “buy” rating in a research report on Tuesday, September 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Huntington Ingalls Industries currently has a consensus rating of “Hold” and an average target price of $159.00.
Huntington Ingalls Industries (NYSE:HII) opened at 171.25 on Monday. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 19.06 and a beta of 1.15. Huntington Ingalls Industries has a 1-year low of $118.20 and a 1-year high of $178.41. The company’s 50 day moving average is $158.07 and its 200-day moving average is $161.39.
Huntington Ingalls Industries (NYSE:HII) last issued its earnings results on Thursday, November 3rd. The company reported $2.27 earnings per share for the quarter, missing the consensus estimate of $2.40 by $0.13. Huntington Ingalls Industries had a net margin of 6.04% and a return on equity of 29.26%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the firm posted $1.98 earnings per share. Huntington Ingalls Industries’s revenue was down 6.5% on a year-over-year basis. On average, analysts predict that Huntington Ingalls Industries will post $10.39 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Friday, November 25th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.40%. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, November 22nd. Huntington Ingalls Industries’s payout ratio is 22.22%.
In related news, VP Jerri F. Dickseski sold 625 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $153.25, for a total transaction of $95,781.25. Following the completion of the sale, the vice president now directly owns 34,045 shares of the company’s stock, valued at $5,217,396.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher D. Kastner sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $165.90, for a total transaction of $331,800.00. Following the sale, the vice president now directly owns 39,581 shares of the company’s stock, valued at $6,566,487.90. The disclosure for this sale can be found here. Corporate insiders own 2.76% of the company’s stock.
Several large investors have recently bought and sold shares of HII. Bank of Montreal Can acquired a new stake in Huntington Ingalls Industries during the second quarter worth $151,600,000. Morgan Stanley increased its stake in Huntington Ingalls Industries by 191.0% in the third quarter. Morgan Stanley now owns 415,124 shares of the company’s stock worth $63,690,000 after buying an additional 272,489 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Huntington Ingalls Industries during the second quarter worth $40,761,000. Capital World Investors acquired a new stake in Huntington Ingalls Industries during the second quarter worth $36,463,000. Finally, D. E. Shaw & Co. Inc. increased its stake in Huntington Ingalls Industries by 65.0% in the third quarter. D. E. Shaw & Co. Inc. now owns 490,497 shares of the company’s stock worth $75,252,000 after buying an additional 193,144 shares during the period. 89.15% of the stock is owned by institutional investors and hedge funds.
About Huntington Ingalls Industries
Huntington Ingalls Industries, Inc (HII) designs, builds, overhauls and repairs ships for the United States Navy and the United States Coast Guard. The Company is the designer, builder and refueler of nuclear powered aircraft carriers, a builder of amphibious assault and expeditionary warfare ships for the United States Navy and the sole builder of National Security Cutters (NSCs) for the United States Coast Guard.
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