Huntington Ingalls Industries (NYSE:HII) Stock Gets Price Target Reduction from Citigroup

Huntington Ingalls Industries (NYSE:HII) had its target price cut by Citigroup from $379.00 to $352.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Other research analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Huntington Ingalls Industries from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, August 31st. The Goldman Sachs Group reissued a “conviction-buy” rating and set a $406.00 target price on shares of Huntington Ingalls Industries in a research report on Friday, October 30th. Wall Street Zen upgraded shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Wells Fargo & Company raised their price target on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. Finally, Sanford C. Bernstein raised their price target on shares of Huntington Ingalls Industries from $304.00 to $352.00 and gave the company a “market perform” rating in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $366.12.

Huntington Ingalls Industries Price Performance

Shares of HII opened at $308.40 on Tuesday. Huntington Ingalls Industries has a 12-month low of $255.35 and a 12-month high of $460.00. The business’s fifty day moving average is $280.22 and its 200 day moving average is $331.06. The company has a quick ratio of 1.18, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. The stock has a market cap of $12.15 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.11 and a beta of 0.17.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings results on Thursday, October 29th. The aerospace company reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $1.12. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.38 billion. Huntington Ingalls Industries had a net margin of 5.42% and a return on equity of 13.95%. Huntington Ingalls Industries’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.68 EPS. Sell-side analysts anticipate that Huntington Ingalls Industries will post 19.42 earnings per share for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 27th will be issued a $1.41 dividend. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.38. This represents a $5.64 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Friday, November 27th. Huntington Ingalls Industries’s dividend payout ratio is currently 29.71%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Gabelli Funds LLC boosted its position in Huntington Ingalls Industries by 12.2% during the third quarter. Gabelli Funds LLC now owns 1,162 shares of the aerospace company’s stock worth $310,000 after purchasing an additional 126 shares during the period. Benjamin Edwards Inc. purchased a new position in shares of Huntington Ingalls Industries in the third quarter worth about $315,000. State Street Corp raised its position in shares of Huntington Ingalls Industries by 0.5% in the third quarter. State Street Corp now owns 2,936,650 shares of the aerospace company’s stock valued at $784,291,000 after purchasing an additional 13,933 shares during the period. Advisors Asset Management Inc. bought a new stake in shares of Huntington Ingalls Industries in the third quarter valued at approximately $4,987,000. Finally, Private Advisor Group LLC raised its position in shares of Huntington Ingalls Industries by 86.7% in the third quarter. Private Advisor Group LLC now owns 7,087 shares of the aerospace company’s stock valued at $1,893,000 after purchasing an additional 3,291 shares during the period. 90.46% of the stock is owned by institutional investors.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc. (NYSE: HII) is a U.S. defense contractor focused on shipbuilding and technology services. Its shipyards design, build, and maintain vessels for the U.S. Navy and other government customers, including nuclear-powered aircraft carriers, submarines, destroyers, and amphibious ships. The company operates Newport News Shipbuilding in Virginia and Ingalls Shipbuilding in Mississippi. Newport News is the sole designer and builder of U.S. Navy nuclear-powered aircraft carriers and, alongside General Dynamics Electric Boat, builds the Navy’s nuclear-powered submarines.