Sanford C. Bernstein Cuts Huntington Ingalls Industries (NYSE:HII) Price Target to $327.00

Huntington Ingalls Industries (NYSE:HII) had its target price decreased by Sanford C. Bernstein from $341.00 to $327.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the aerospace company’s stock.

HII has been the subject of a number of other reports. TD Cowen reduced their price target on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating for the company in a report on Monday, July 13th. Citigroup boosted their price objective on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Weiss Ratings raised shares of Huntington Ingalls Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 31st. Wolfe Research upgraded shares of 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 note on Friday, July 31st. Finally, Wells Fargo & Company lifted their target price on Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.12.

Huntington Ingalls Industries Stock Down 0.8%

Shares of HII stock opened at $263.76 on Wednesday. Huntington Ingalls Industries has a 12 month low of $261.71 and a 12 month high of $460.00. The firm has a market cap of $10.39 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.00 and a beta of 0.23. The stock has a 50 day moving average of $295.53 and a 200-day moving average of $324.16. 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 quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $1.48. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company posted $3.86 earnings per share. Huntington Ingalls Industries’s quarterly revenue was up 10.9% on a year-over-year basis. On average, equities analysts predict that Huntington Ingalls Industries will post 18.47 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 28th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 28th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 32.90%.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, CEO Christopher Kastner sold 13,070 shares of Huntington Ingalls Industries stock in a transaction on Monday, August 10th. The shares were sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the sale, the chief executive officer owned 11,224 shares in the company, valued at $3,646,902.08. The trade was a 53.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Huntington Ingalls Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in HII. Bayban bought a new stake in Huntington Ingalls Industries in the first quarter valued at about $27,000. Cassaday & Co Wealth Management LLC acquired a new position in Huntington Ingalls Industries in the first quarter worth about $36,000. Motiv8 Investments LLC bought a new position in Huntington Ingalls Industries during the fourth quarter worth about $38,000. MV Capital Management Inc. bought a new position in Huntington Ingalls Industries during the fourth quarter worth about $44,000. Finally, Bogart Wealth LLC boosted its holdings in Huntington Ingalls Industries by 1,775.0% during the first quarter. Bogart Wealth LLC now owns 150 shares of the aerospace company’s stock valued at $57,000 after purchasing an additional 142 shares in the last quarter. 90.46% of the stock is owned by institutional investors.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc (NYSE:HII) is a U.S. defense company focused on designing, building, modernizing and maintaining military ships and providing technology services to government customers. It is the largest military shipbuilding company in the United States and one of the few companies capable of designing and constructing nuclear-powered aircraft carriers and submarines.

HII operates through three primary businesses: Newport News Shipbuilding, Ingalls Shipbuilding and Mission Technologies.