Citigroup Begins Coverage on Huntington Ingalls Industries (NYSE:HII)

Citigroup assumed coverage on shares of Huntington Ingalls Industries (NYSE:HII) in a report released on Monday, MarketBeat reports. The brokerage issued a buy rating and a $310.00 price target on the aerospace company’s stock.

Several other research analysts have also recently weighed in on the company. StockNews.com cut Huntington Ingalls Industries from a strong-buy rating to a buy rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on Huntington Ingalls Industries from $288.00 to $295.00 and gave the stock an overweight rating in a research report on Thursday, March 21st. Finally, Barclays increased their price objective on Huntington Ingalls Industries from $280.00 to $290.00 and gave the stock an equal weight rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $278.00.

Huntington Ingalls Industries Trading Up 0.3 %

NYSE HII opened at $254.62 on Monday. The company has a market cap of $10.04 billion, a PE ratio of 14.35, a PEG ratio of 2.39 and a beta of 0.60. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 0.54. Huntington Ingalls Industries has a 12 month low of $194.52 and a 12 month high of $299.50. The stock has a 50 day moving average of $273.03 and a 200-day moving average of $264.42.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings results on Thursday, May 2nd. The aerospace company reported $3.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.50 by $0.37. Huntington Ingalls Industries had a return on equity of 18.08% and a net margin of 6.09%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the firm posted $3.23 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Huntington Ingalls Industries will post 16.35 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, May 31st. Huntington Ingalls Industries’s payout ratio is 29.31%.

Insiders Place Their Bets

In other news, VP Jennifer R. Boykin sold 1,043 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $252.03, for a total transaction of $262,867.29. Following the sale, the vice president now directly owns 11,961 shares in the company, valued at $3,014,530.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Jennifer R. Boykin sold 1,043 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $252.03, for a total value of $262,867.29. Following the sale, the vice president now directly owns 11,961 shares in the company, valued at $3,014,530.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Edmond E. Jr. Hughes sold 1,500 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $256.07, for a total value of $384,105.00. Following the transaction, the vice president now owns 8,135 shares in the company, valued at $2,083,129.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,439 shares of company stock valued at $2,071,170. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Ingalls Industries

A number of institutional investors have recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in Huntington Ingalls Industries in the 3rd quarter valued at $25,000. Cranbrook Wealth Management LLC purchased a new stake in Huntington Ingalls Industries in the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC bought a new position in Huntington Ingalls Industries in the 4th quarter worth about $30,000. American National Bank bought a new position in Huntington Ingalls Industries in the 1st quarter worth about $30,000. Finally, Riverview Trust Co bought a new position in Huntington Ingalls Industries in the 1st quarter worth about $30,000. 90.46% of the stock is owned by institutional investors and hedge funds.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.