Huntington Ingalls Industries (NYSE:HII) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Huntington Ingalls Industries (NYSE:HII) from a strong-buy rating to a buy rating in a research report released on Saturday.

Several other brokerages have also weighed in on HII. Melius Research raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Monday, January 5th. JPMorgan Chase & Co. lifted their target price on Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. TD Cowen upped their price target on Huntington Ingalls Industries from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Citigroup raised their price objective on Huntington Ingalls Industries from $376.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Huntington Ingalls Industries in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Huntington Ingalls Industries has an average rating of “Hold” and a consensus price target of $343.63.

Huntington Ingalls Industries Price Performance

HII opened at $420.22 on Friday. The company has a market capitalization of $16.49 billion, a P/E ratio of 29.02, a PEG ratio of 1.69 and a beta of 0.34. The company has a 50-day moving average of $362.00 and a 200-day moving average of $310.33. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.06 and a current ratio of 1.14. Huntington Ingalls Industries has a 1-year low of $158.88 and a 1-year high of $436.14.

Insider Activity

In other news, CEO Christopher D. Kastner sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $321.06, for a total transaction of $4,815,900.00. Following the completion of the transaction, the chief executive officer owned 68,139 shares of the company’s stock, valued at approximately $21,876,707.34. The trade was a 18.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Edmond E. Jr. Hughes sold 850 shares of Huntington Ingalls Industries stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $315.44, for a total transaction of $268,124.00. Following the completion of the sale, the vice president owned 8,731 shares in the company, valued at approximately $2,754,106.64. This represents a 8.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 16,637 shares of company stock valued at $5,331,276. 0.86% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Huntington Ingalls Industries

A number of institutional investors and hedge funds have recently bought and sold shares of HII. Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Huntington Ingalls Industries during the 4th quarter worth about $353,000. Truist Financial Corp boosted its holdings in shares of Huntington Ingalls Industries by 2.5% in the fourth quarter. Truist Financial Corp now owns 11,175 shares of the aerospace company’s stock valued at $3,800,000 after acquiring an additional 275 shares in the last quarter. Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies acquired a new position in shares of Huntington Ingalls Industries during the fourth quarter valued at approximately $533,000. Benjamin Edwards Inc. bought a new stake in Huntington Ingalls Industries during the fourth quarter worth approximately $225,000. Finally, Composition Wealth LLC acquired a new stake in Huntington Ingalls Industries in the fourth quarter worth approximately $246,000. Institutional investors own 90.46% of the company’s stock.

About Huntington Ingalls Industries

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.