Bank of America Cuts Huntington Ingalls Industries (NYSE:HII) Price Target to $195.00

Huntington Ingalls Industries (NYSE:HII) had its target price lowered by Bank of America from $250.00 to $195.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has an underperform rating on the aerospace company’s stock.

A number of other research analysts also recently issued reports on HII. Alembic Global Advisors downgraded shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and set a $210.00 target price on the stock. in a research report on Friday, November 1st. JPMorgan Chase & Co. downgraded shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and upped their target price for the company from $280.00 to $285.00 in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Huntington Ingalls Industries from $273.00 to $191.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group cut their price target on shares of Huntington Ingalls Industries from $226.00 to $194.00 and set a “sell” rating on the stock in a research report on Friday, November 1st. Finally, Vertical Research downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 price target on the stock. in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $228.89.

Huntington Ingalls Industries Price Performance

NYSE:HII traded down $1.77 during mid-day trading on Wednesday, reaching $193.56. 493,576 shares of the company were exchanged, compared to its average volume of 335,294. Huntington Ingalls Industries has a 12 month low of $184.29 and a 12 month high of $299.50. The company has a fifty day moving average of $245.02 and a 200 day moving average of $253.76. The company has a quick ratio of 0.73, a current ratio of 0.79 and a debt-to-equity ratio of 0.41. The stock has a market cap of $7.57 billion, a PE ratio of 10.93, a PEG ratio of 1.75 and a beta of 0.55.

Huntington Ingalls Industries (NYSE:HII) last released its earnings results on Thursday, October 31st. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.84 by ($1.28). Huntington Ingalls Industries had a net margin of 5.99% and a return on equity of 16.89%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same quarter in the previous year, the company posted $3.70 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, research analysts anticipate that Huntington Ingalls Industries will post 15.31 EPS for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $1.35 per share. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 2.79%. The ex-dividend date is Friday, November 29th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 29.36%.

Insiders Place Their Bets

In other news, VP D R. Wyatt sold 400 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $205.24, for a total transaction of $82,096.00. Following the completion of the transaction, the vice president now directly owns 19,627 shares of the company’s stock, valued at $4,028,245.48. This trade represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Huntington Ingalls Industries

Several hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its stake in shares of Huntington Ingalls Industries by 94.5% in the third quarter. Van ECK Associates Corp now owns 1,778,210 shares of the aerospace company’s stock valued at $455,222,000 after buying an additional 863,800 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Huntington Ingalls Industries by 41.6% in the second quarter. AQR Capital Management LLC now owns 732,587 shares of the aerospace company’s stock valued at $180,458,000 after buying an additional 215,362 shares in the last quarter. FMR LLC grew its stake in shares of Huntington Ingalls Industries by 5.6% in the third quarter. FMR LLC now owns 3,519,111 shares of the aerospace company’s stock valued at $930,383,000 after buying an additional 187,411 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of Huntington Ingalls Industries in the third quarter valued at $47,698,000. Finally, American Century Companies Inc. grew its stake in shares of Huntington Ingalls Industries by 42.1% in the second quarter. American Century Companies Inc. now owns 473,778 shares of the aerospace company’s stock valued at $116,706,000 after buying an additional 140,338 shares in the last quarter. 90.46% of the stock is owned by institutional investors.

Huntington Ingalls Industries Company Profile

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.