Huntington Ingalls Industries (NYSE:HII) Given New $420.00 Price Target at TD Cowen

Huntington Ingalls Industries (NYSE:HII) had its target price decreased by investment analysts at TD Cowen from $460.00 to $420.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. TD Cowen’s price objective would indicate a potential upside of 25.25% from the company’s current price.

A number of other brokerages have also recently issued reports on HII. Bank of America raised shares of Huntington Ingalls Industries from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $300.00 to $400.00 in a research report on Thursday, February 12th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $421.00 price objective on shares of Huntington Ingalls Industries in a research report on Wednesday, February 11th. The Goldman Sachs Group upped their price objective on shares of Huntington Ingalls Industries from $384.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. Citigroup cut their price objective on shares of Huntington Ingalls Industries from $465.00 to $441.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Finally, Wells Fargo & Company assumed coverage on shares of Huntington Ingalls Industries in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Huntington Ingalls Industries presently has an average rating of “Hold” and an average price target of $378.78.

Huntington Ingalls Industries Stock Performance

Shares of Huntington Ingalls Industries stock traded up $1.10 during trading on Thursday, reaching $335.32. The company’s stock had a trading volume of 54,036 shares, compared to its average volume of 559,185. The business’s 50-day moving average price is $387.80 and its 200-day moving average price is $371.51. The firm has a market cap of $13.21 billion, a PE ratio of 21.81, a P/E/G ratio of 1.41 and a beta of 0.29. Huntington Ingalls Industries has a 52 week low of $215.04 and a 52 week high of $460.00. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 0.52.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.70 by $0.09. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. Huntington Ingalls Industries’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.79 earnings per share. Equities analysts forecast that Huntington Ingalls Industries will post 17.33 earnings per share for the current year.

Insider Activity

In related news, VP Chad N. Boudreaux sold 4,400 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $422.45, for a total transaction of $1,858,780.00. Following the completion of the sale, the vice president owned 20,360 shares of the company’s stock, valued at $8,601,082. This represents a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Eric D. Chewning sold 1,700 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total transaction of $736,848.00. Following the completion of the transaction, the executive vice president directly owned 1,949 shares of the company’s stock, valued at $844,774.56. This trade represents a 46.59% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HII. Geneos Wealth Management Inc. lifted its holdings in shares of Huntington Ingalls Industries by 40.1% in the first quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock worth $42,000 after acquiring an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Huntington Ingalls Industries by 329.4% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company’s stock worth $88,000 after acquiring an additional 280 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Huntington Ingalls Industries by 432.1% in the second quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company’s stock worth $9,210,000 after acquiring an additional 30,975 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Huntington Ingalls Industries by 23.0% in the second quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company’s stock worth $381,000 after acquiring an additional 294 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of Huntington Ingalls Industries in the second quarter worth about $398,000. Institutional investors own 90.46% of the company’s stock.

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.