Citigroup Cuts Huntington Ingalls Industries (NYSE:HII) Price Target to $441.00

Huntington Ingalls Industries (NYSE:HII) had its price target lowered by analysts at Citigroup from $465.00 to $441.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. Citigroup’s target price points to a potential upside of 12.10% from the company’s current price.

Several other brokerages have also recently issued reports on HII. Bank of America upgraded shares of Huntington Ingalls Industries from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $300.00 to $400.00 in a report on Thursday, February 12th. Melius Research raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Monday, January 5th. Wells Fargo & Company assumed coverage on Huntington Ingalls Industries in a research note on Wednesday. They issued an “equal weight” rating and a $400.00 price target on the stock. TD Cowen upped their price objective on Huntington Ingalls Industries from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $421.00 price objective on shares of Huntington Ingalls Industries in a report on Wednesday, February 11th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $383.22.

Huntington Ingalls Industries Price Performance

Shares of HII traded up $0.09 during mid-day trading on Thursday, hitting $393.41. 96,061 shares of the company were exchanged, compared to its average volume of 569,929. The company has a 50 day moving average of $416.64 and a 200-day moving average of $353.59. Huntington Ingalls Industries has a 1-year low of $177.42 and a 1-year high of $460.00. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 1.55 and a beta of 0.36. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.13.

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

Insider Transactions at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Chad N. Boudreaux sold 4,400 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $422.45, for a total transaction of $1,858,780.00. Following the sale, the vice president owned 20,360 shares in the company, valued at approximately $8,601,082. This represents a 17.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric D. Chewning sold 1,700 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $433.44, for a total value of $736,848.00. Following the completion of the sale, the executive vice president owned 1,949 shares in the company, valued at $844,774.56. This represents a 46.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Huntington Ingalls Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. NBC Securities Inc. boosted its holdings in Huntington Ingalls Industries by 87.2% in the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Huntington Ingalls Industries during the 2nd quarter worth approximately $25,000. Rakuten Securities Inc. raised its position in shares of Huntington Ingalls Industries by 140.0% in the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 63 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Huntington Ingalls Industries by 120.0% during the 3rd quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company’s stock valued at $32,000 after buying an additional 60 shares during the last quarter. Finally, Motiv8 Investments LLC acquired a new stake in shares of Huntington Ingalls Industries during the fourth quarter worth approximately $38,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

About Huntington Ingalls Industries

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.