Huntington Ingalls Industries Inc (NYSE:HII) hit a new 52-week high on Wednesday . The stock traded as high as $273.66 and last traded at $274.18, with a volume of 389398 shares trading hands. The stock had previously closed at $266.11.
Several equities research analysts have recently weighed in on HII shares. Credit Suisse Group raised shares of Huntington Ingalls Industries from a “neutral” rating to an “outperform” rating and set a $241.00 target price on the stock in a research note on Friday, February 16th. Stifel Nicolaus reissued a “sell” rating and issued a $230.00 target price on shares of Huntington Ingalls Industries in a research note on Friday, February 16th. Sanford C. Bernstein reissued a “market perform” rating and issued a $271.00 target price (up previously from $242.00) on shares of Huntington Ingalls Industries in a research note on Tuesday. ValuEngine raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Investment Research raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating and set a $266.00 target price on the stock in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $261.38.
The company has a debt-to-equity ratio of 0.73, a current ratio of 1.58 and a quick ratio of 1.45. The stock has a market capitalization of $11,899.58, a price-to-earnings ratio of 26.18, a P/E/G ratio of 1.33 and a beta of 1.15.
Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings results on Thursday, February 15th. The aerospace company reported $3.11 EPS for the quarter, topping the Zacks’ consensus estimate of $2.93 by $0.18. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Huntington Ingalls Industries had a net margin of 6.44% and a return on equity of 31.01%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.20 earnings per share. research analysts expect that Huntington Ingalls Industries Inc will post 13.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 23rd will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, February 22nd. Huntington Ingalls Industries’s payout ratio is presently 27.56%.
Huntington Ingalls Industries declared that its board has approved a share buyback program on Tuesday, November 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, Director Philip M. Bilden purchased 2,200 shares of the business’s stock in a transaction dated Friday, November 24th. The shares were purchased at an average cost of $234.11 per share, for a total transaction of $515,042.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.22% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Huntington Ingalls Industries by 2.4% in the fourth quarter. BlackRock Inc. now owns 4,727,701 shares of the aerospace company’s stock worth $1,114,317,000 after purchasing an additional 112,168 shares during the last quarter. Bank of Montreal Can grew its holdings in Huntington Ingalls Industries by 4.7% during the 4th quarter. Bank of Montreal Can now owns 855,162 shares of the aerospace company’s stock worth $201,561,000 after acquiring an additional 38,150 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in Huntington Ingalls Industries by 6.4% during the 3rd quarter. Allianz Asset Management GmbH now owns 352,377 shares of the aerospace company’s stock worth $79,792,000 after acquiring an additional 21,103 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Huntington Ingalls Industries by 31.5% during the 3rd quarter. Principal Financial Group Inc. now owns 287,477 shares of the aerospace company’s stock worth $65,096,000 after acquiring an additional 68,842 shares in the last quarter. Finally, Martingale Asset Management L P grew its holdings in Huntington Ingalls Industries by 2.1% during the 4th quarter. Martingale Asset Management L P now owns 176,413 shares of the aerospace company’s stock worth $41,582,000 after acquiring an additional 3,600 shares in the last quarter. Hedge funds and other institutional investors own 82.05% of the company’s stock.
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Huntington Ingalls Industries Company Profile
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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