Citigroup Initiates Coverage on Huntington Ingalls Industries (NYSE:HII)

Citigroup started coverage on shares of Huntington Ingalls Industries (NYSE:HII) in a research report released on Monday, Marketbeat.com reports. The firm issued a buy rating and a $310.00 price target on the aerospace company’s stock.

HII has been the topic of a number of other reports. Barclays lifted their price objective on shares of Huntington Ingalls Industries from $280.00 to $290.00 and gave the stock an equal weight rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of Huntington Ingalls Industries from $288.00 to $295.00 and gave the stock an overweight rating in a report on Thursday, March 21st. Finally, StockNews.com downgraded shares of Huntington Ingalls Industries from a strong-buy rating to a buy rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $278.00.

Huntington Ingalls Industries Stock Performance

NYSE:HII opened at $254.62 on Monday. The company has a fifty day moving average of $273.03 and a 200-day moving average of $264.42. The firm has a market capitalization of $10.04 billion, a P/E ratio of 14.35, a P/E/G ratio of 2.39 and a beta of 0.60. The company has a quick ratio of 0.89, a current ratio of 0.96 and a debt-to-equity ratio of 0.54. Huntington Ingalls Industries has a twelve month low of $194.52 and a twelve month high of $299.50.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings results on Thursday, May 2nd. The aerospace company reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.50 by $0.37. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. Huntington Ingalls Industries had a net margin of 6.09% and a return on equity of 18.08%. Huntington Ingalls Industries’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.23 EPS. As a group, sell-side analysts anticipate that Huntington Ingalls Industries will post 16.35 EPS for the current year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, May 31st. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 29.31%.

Insider Buying and Selling at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Edgar A. Green III sold 3,603 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $290.75, for a total transaction of $1,047,572.25. Following the sale, the vice president now directly owns 7,461 shares of the company’s stock, valued at $2,169,285.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Edgar A. Green III sold 3,603 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $290.75, for a total transaction of $1,047,572.25. Following the sale, the vice president now directly owns 7,461 shares in the company, valued at $2,169,285.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jennifer R. Boykin sold 1,043 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $252.03, for a total value of $262,867.29. Following the sale, the vice president now owns 11,961 shares in the company, valued at $3,014,530.83. The disclosure for this sale can be found here. Insiders have sold a total of 7,439 shares of company stock valued at $2,071,170 over the last three months. 0.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Huntington Ingalls Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in shares of Huntington Ingalls Industries in the third quarter worth approximately $25,000. Cranbrook Wealth Management LLC purchased a new stake in Huntington Ingalls Industries in the fourth quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Huntington Ingalls Industries in the fourth quarter worth approximately $30,000. American National Bank purchased a new stake in Huntington Ingalls Industries in the first quarter worth approximately $30,000. Finally, Riverview Trust Co purchased a new stake in Huntington Ingalls Industries in the first quarter worth approximately $30,000. 90.46% of the stock is currently 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.