Huntington Ingalls Industries (NYSE:HII) Price Target Raised to $340.00

Huntington Ingalls Industries (NYSE:HII) had its price target raised by Wells Fargo & Company from $325.00 to $340.00 in a research note released on Tuesday,Benzinga reports. They currently have an equal weight rating on the aerospace company’s stock.

A number of other analysts have also commented on the company. Citigroup raised their price target on Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. TD Cowen decreased their price objective 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. Wolfe Research raised 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 report on Friday, July 31st. Wall Street Zen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Weiss Ratings cut shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $378.88.

Huntington Ingalls Industries Trading Up 1.4%

HII opened at $322.31 on Tuesday. Huntington Ingalls Industries has a one year low of $259.00 and a one year high of $460.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.23 and a quick ratio of 1.14. The business has a 50 day simple moving average of $291.08 and a two-hundred day simple moving average of $356.15. The firm has a market capitalization of $12.70 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.33 and a beta of 0.24.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, topping analysts’ consensus estimates of $3.79 by $1.48. Huntington Ingalls Industries had a return on equity of 12.89% and a net margin of 5.01%.The firm had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company earned $3.86 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Analysts predict that Huntington Ingalls Industries will post 17.68 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $1.38 per share. The ex-dividend date is Friday, August 28th. This represents a $5.52 annualized dividend and a dividend yield of 1.7%. Huntington Ingalls Industries’s payout ratio is currently 32.90%.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $319.58, for a total value of $1,118,530.00. Following the completion of the transaction, the vice president owned 8,391 shares in the company, valued at approximately $2,681,595.78. This represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is currently owned by insiders.

Institutional Trading of Huntington Ingalls Industries

Hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its stake in Huntington Ingalls Industries by 40.1% during 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 in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Huntington Ingalls Industries by 329.4% during the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company’s stock valued at $88,000 after purchasing an additional 280 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Huntington Ingalls Industries by 432.1% during the second quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company’s stock valued at $9,210,000 after purchasing an additional 30,975 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Huntington Ingalls Industries by 23.0% during the second quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company’s stock valued at $381,000 after purchasing an additional 294 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Huntington Ingalls Industries during the second quarter valued at approximately $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.