Zacks Investment Research cut shares of Huntington Ingalls Industries, Inc. (NYSE:HII) from a buy rating to a hold rating in a report issued on Tuesday, October 24th.
According to Zacks, “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 U.S., with more than 70% of the active U.S. Navy fleet consisting of Huntington Ingalls ships. Its solid capital resources fund its operations, which allow the company to consistently generate improved cash flow from operating activities. It also outperformed the broader industry in past one year. However, Huntington Ingalls' limited commercial exposure and high dependence on the government might be a heavy blow to margins amid uncertain U.S. defense spending trends. Moreover, weakness in Newport News unit weigh heavily on the company's overall results.”
Other analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Huntington Ingalls Industries from a hold rating to a buy rating in a research note on Thursday, August 3rd. Cowen and Company restated a hold rating and issued a $225.00 target price on shares of Huntington Ingalls Industries in a research note on Friday, October 6th. ValuEngine upgraded shares of Huntington Ingalls Industries from a hold rating to a buy rating in a research note on Friday, September 1st. Deutsche Bank AG restated a buy rating and issued a $240.00 target price (up previously from $230.00) on shares of Huntington Ingalls Industries in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reiterated a neutral rating and issued a $233.00 price target (up previously from $224.00) on shares of Huntington Ingalls Industries in a report on Monday, October 9th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Huntington Ingalls Industries currently has an average rating of Hold and an average price target of $222.57.
Shares of Huntington Ingalls Industries (HII) opened at $240.66 on Tuesday. The firm has a market cap of $10,892.51, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.38 and a beta of 1.19. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.47 and a current ratio of 1.52. Huntington Ingalls Industries has a 52 week low of $169.87 and a 52 week high of $253.44.
Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings results on Wednesday, November 8th. The aerospace company reported $3.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.49. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Huntington Ingalls Industries had a net margin of 8.31% and a return on equity of 33.37%. Huntington Ingalls Industries’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.27 EPS. analysts forecast that Huntington Ingalls Industries will post 11.99 earnings per share for the current year.
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Huntington Ingalls Industries declared that its board has authorized a stock buyback plan on Tuesday, November 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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 dividend of $0.72 per share. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $0.60. This represents a $2.88 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, November 22nd. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 18.13%.
In other Huntington Ingalls Industries news, VP William R. Ermatinger sold 2,985 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $215.10, for a total transaction of $642,073.50. Following the completion of the transaction, the vice president now directly owns 32,810 shares in the company, valued at approximately $7,057,431. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.22% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in shares of Huntington Ingalls Industries by 25.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 500 shares of the aerospace company’s stock worth $100,000 after purchasing an additional 100 shares during the last quarter. Howe & Rusling Inc. boosted its stake in shares of Huntington Ingalls Industries by 4,844.4% during the 3rd quarter. Howe & Rusling Inc. now owns 445 shares of the aerospace company’s stock worth $101,000 after purchasing an additional 436 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Huntington Ingalls Industries by 6.8% during the 2nd quarter. Toronto Dominion Bank now owns 565 shares of the aerospace company’s stock worth $105,000 after purchasing an additional 36 shares during the last quarter. Global X Management Co. LLC acquired a new stake in shares of Huntington Ingalls Industries during the 2nd quarter worth about $125,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Huntington Ingalls Industries by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 889 shares of the aerospace company’s stock worth $165,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 85.27% of the company’s stock.
About Huntington Ingalls Industries
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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