Zacks Investment Research upgraded shares of Huntington Ingalls Industries, Inc. (NYSE:HII) from a hold rating to a buy rating in a report published on Friday. Zacks Investment Research currently has $282.00 price target on the aerospace company’s stock.
According to Zacks, “Huntington Ingalls’ top-line as well as bottom-line figures in the third quarter of 2017 exceeded the respective Zacks Consensus Estimate. Year-over-year quarterly results also remained impressive. Being the nation’s largest military shipbuilder, Huntington Ingalls continues to boast stable financials and regular cash returns to shareholders. It is the sole designer and manufacturer of nuclear powered aircraft carriers in the United States, with more than 70% of the active U.S. Navy fleet consisting of Huntington Ingalls ships. Its solid capital resources fund operations, which allow the company to consistently generate improved cash flow. It also outperformed the broader industry over a year. However, Huntington Ingalls' limited commercial exposure and high dependence on the government might dent margins amid uncertain U.S. defense spending trends.”
Several other research firms have also weighed in on HII. BidaskClub raised Huntington Ingalls Industries from a hold rating to a buy rating in a research note on Thursday, August 3rd. Cowen and Company reaffirmed a hold rating and issued a $225.00 price objective on shares of Huntington Ingalls Industries in a research note on Friday, October 6th. ValuEngine raised Huntington Ingalls Industries from a hold rating to a buy rating in a research note on Friday, September 1st. Deutsche Bank AG reaffirmed a buy rating and issued a $240.00 price objective (up from $230.00) on shares of Huntington Ingalls Industries in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reissued a neutral rating and set a $233.00 price target (up from $224.00) on shares of Huntington Ingalls Industries in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Huntington Ingalls Industries has a consensus rating of Hold and an average target price of $222.57.
Shares of Huntington Ingalls Industries (NYSE:HII) traded down $1.89 during midday trading on Friday, hitting $240.66. The company had a trading volume of 284,700 shares, compared to its average volume of 275,564. The company has a quick ratio of 1.47, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. Huntington Ingalls Industries has a 52 week low of $169.87 and a 52 week high of $253.44. The company has a market capitalization of $10,892.51, a PE ratio of 20.02, a P/E/G ratio of 1.38 and a beta of 1.19.
Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings data on Wednesday, November 8th. The aerospace company reported $3.27 earnings per share for the quarter, beating the consensus estimate of $2.78 by $0.49. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. Huntington Ingalls Industries had a return on equity of 33.37% and a net margin of 8.31%. Huntington Ingalls Industries’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $2.27 earnings per share. research analysts anticipate that Huntington Ingalls Industries will post 11.99 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be issued a $0.72 dividend. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $0.60. This represents a $2.88 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, November 22nd. Huntington Ingalls Industries’s payout ratio is presently 18.13%.
Huntington Ingalls Industries announced that its Board of Directors has authorized a share buyback program on Tuesday, November 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other Huntington Ingalls Industries news, VP William R. Ermatinger sold 2,985 shares of Huntington Ingalls Industries stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $215.10, for a total value of $642,073.50. Following the completion of the sale, the vice president now directly owns 32,810 shares in the company, valued at $7,057,431. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.22% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Howe & Rusling Inc. increased its holdings in shares of Huntington Ingalls Industries by 4,844.4% during the third quarter. Howe & Rusling Inc. now owns 445 shares of the aerospace company’s stock valued at $101,000 after acquiring an additional 436 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of Huntington Ingalls Industries by 6.8% during the second quarter. Toronto Dominion Bank now owns 565 shares of the aerospace company’s stock valued at $105,000 after acquiring an additional 36 shares in the last quarter. Global X Management Co. LLC bought a new stake in shares of Huntington Ingalls Industries during the second quarter valued at approximately $125,000. Pacer Advisors Inc. increased its holdings in shares of Huntington Ingalls Industries by 7.0% during the second quarter. Pacer Advisors Inc. now owns 889 shares of the aerospace company’s stock valued at $165,000 after acquiring an additional 58 shares in the last quarter. Finally, Puplava Financial Services Inc. increased its holdings in shares of Huntington Ingalls Industries by 10.2% during the second quarter. Puplava Financial Services Inc. now owns 1,138 shares of the aerospace company’s stock valued at $212,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Huntington Ingalls Industries Company Profile
Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.
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