Bank of America Trims Huntington Ingalls Industries (HII) Target Price to $305.00

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Huntington Ingalls Industries (NYSE:HII) had its price target cut by Bank of America from $335.00 to $305.00 in a report released on Friday, MarketBeat reports. They currently have a buy rating on the aerospace company’s stock.

Other research analysts have also issued research reports about the company. Seaport Global Securities assumed coverage on Huntington Ingalls Industries in a research report on Thursday, August 23rd. They set a neutral rating and a $260.00 target price for the company. Cowen restated a buy rating and set a $250.00 target price on shares of Huntington Ingalls Industries in a research report on Thursday, August 2nd. ValuEngine upgraded Huntington Ingalls Industries from a sell rating to a hold rating in a research report on Monday, October 22nd. UBS Group assumed coverage on Huntington Ingalls Industries in a research report on Wednesday, August 15th. They set a buy rating and a $290.00 target price for the company. Finally, Buckingham Research assumed coverage on Huntington Ingalls Industries in a research report on Wednesday, September 12th. They set a buy rating and a $297.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $262.83.

NYSE HII traded up $3.59 during trading hours on Friday, hitting $223.65. 569,941 shares of the company were exchanged, compared to its average volume of 422,193. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.43 and a quick ratio of 1.31. Huntington Ingalls Industries has a 52 week low of $201.91 and a 52 week high of $276.69. The stock has a market capitalization of $10.14 billion, a P/E ratio of 18.42, a PEG ratio of 0.91 and a beta of 1.13.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Thursday, November 8th. The aerospace company reported $5.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.14 by $1.15. Huntington Ingalls Industries had a return on equity of 39.78% and a net margin of 7.84%. The company had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $1.90 billion. During the same period in the previous year, the firm posted $3.27 earnings per share. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that Huntington Ingalls Industries will post 17.24 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, November 29th. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $0.72. Huntington Ingalls Industries’s payout ratio is 23.72%.

In related news, VP Jerri F. Dickseski sold 271 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $257.84, for a total value of $69,874.64. Following the completion of the sale, the vice president now owns 34,750 shares in the company, valued at $8,959,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.22% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in HII. Royal Bank of Canada boosted its holdings in shares of Huntington Ingalls Industries by 59.7% in the first quarter. Royal Bank of Canada now owns 14,624 shares of the aerospace company’s stock valued at $3,768,000 after purchasing an additional 5,467 shares during the period. IFM Investors Pty Ltd boosted its holdings in shares of Huntington Ingalls Industries by 43.1% in the second quarter. IFM Investors Pty Ltd now owns 2,107 shares of the aerospace company’s stock valued at $457,000 after purchasing an additional 635 shares during the period. Gateway Investment Advisers LLC purchased a new stake in shares of Huntington Ingalls Industries in the second quarter valued at approximately $15,248,000. Palo Capital Inc. purchased a new stake in shares of Huntington Ingalls Industries in the second quarter valued at approximately $2,803,000. Finally, Bank of Montreal Can purchased a new stake in shares of Huntington Ingalls Industries in the second quarter valued at approximately $185,624,000. Hedge funds and other institutional investors own 85.56% of the company’s stock.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc engages in the designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships that include deck amphibious ships and transport dock ships; surface combatants; and national security cutters for the U.S.

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Analyst Recommendations for Huntington Ingalls Industries (NYSE:HII)

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