Huntington Ingalls Industries (NYSE:HII) Price Target Cut to $340.00 by Analysts at TD Cowen

Huntington Ingalls Industries (NYSE:HII) had its price target lowered by stock analysts at TD Cowen from $360.00 to $340.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the aerospace company’s stock. TD Cowen’s price objective would indicate a potential upside of 27.72% from the stock’s previous close.

HII has been the topic of several other research reports. Citigroup upped their target price on Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings raised Huntington Ingalls Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 31st. Wolfe Research upgraded shares of Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price objective on the stock in a research report on Friday, July 31st. Sanford C. Bernstein lowered their price objective on shares of Huntington Ingalls Industries from $341.00 to $327.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 23rd. Finally, Wells Fargo & Company raised their target price on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $364.62.

Huntington Ingalls Industries Price Performance

Shares of HII stock traded up $1.18 during midday trading on Friday, reaching $266.20. 68,485 shares of the company traded hands, compared to its average volume of 526,548. The firm’s 50 day simple moving average is $291.62 and its two-hundred day simple moving average is $313.75. The firm has a market cap of $10.49 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 0.98 and a beta of 0.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.23 and a quick ratio of 1.14. Huntington Ingalls Industries has a 1-year low of $256.79 and a 1-year high of $460.00.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results 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 business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the firm posted $3.86 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts expect that Huntington Ingalls Industries will post 18.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Huntington Ingalls Industries news, CEO Christopher Kastner sold 13,070 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the completion of the sale, the chief executive officer directly owned 11,224 shares in the company, valued at $3,646,902.08. This represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HII. GAMMA Investing LLC grew its position in shares of Huntington Ingalls Industries by 15.3% during the third quarter. GAMMA Investing LLC now owns 3,523 shares of the aerospace company’s stock worth $941,000 after buying an additional 467 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Huntington Ingalls Industries by 16.6% in the third quarter. Farther Finance Advisors LLC now owns 1,428 shares of the aerospace company’s stock valued at $381,000 after acquiring an additional 203 shares in the last quarter. Gradient Investments LLC raised its holdings in Huntington Ingalls Industries by 36.1% in the third quarter. Gradient Investments LLC now owns 66,041 shares of the aerospace company’s stock valued at $17,638,000 after acquiring an additional 17,514 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in Huntington Ingalls Industries during the 3rd quarter valued at $319,000. Finally, Steph & Co. acquired a new position in Huntington Ingalls Industries during the 3rd quarter worth $452,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc (NYSE:HII) is a U.S. defense company that designs, builds, maintains and modernizes military ships and provides technology services to government and defense customers. Its principal customers include the U.S. Navy, Marine Corps, Coast Guard, intelligence agencies and other federal organizations.

Through Newport News Shipbuilding, HII builds and services nuclear-powered aircraft carriers and supports the construction and maintenance of nuclear-powered submarines.