Huntington Ingalls Industries (NYSE:HII) Now Covered by Citigroup

Citigroup assumed coverage on shares of Huntington Ingalls Industries (NYSE:HII) in a research report released on Friday, MarketBeat.com reports. The firm issued a buy rating and a $376.00 price target on the aerospace company’s stock.

HII has been the topic of a number of other reports. Wall Street Zen raised Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 29th. TD Cowen increased their target price on Huntington Ingalls Industries from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Zacks Research cut Huntington Ingalls Industries from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 14th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $362.00 price objective on shares of Huntington Ingalls Industries in a report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Huntington Ingalls Industries in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $325.75.

Huntington Ingalls Industries Price Performance

Shares of NYSE:HII opened at $327.10 on Friday. The company has a market capitalization of $12.84 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.69 and a beta of 0.37. Huntington Ingalls Industries has a 1-year low of $158.88 and a 1-year high of $333.31. The firm’s 50 day simple moving average is $304.95 and its two-hundred day simple moving average is $273.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.14 and a quick ratio of 1.06.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Thursday, October 30th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.29 by $0.39. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Huntington Ingalls Industries had a net margin of 4.74% and a return on equity of 11.79%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.56 earnings per share. Research analysts expect that Huntington Ingalls Industries will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, November 28th. Huntington Ingalls Industries’s payout ratio is 38.12%.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, CEO Christopher D. Kastner sold 15,000 shares of the company’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 sale, the chief executive officer owned 68,139 shares of the company’s stock, valued at $21,876,707.34. This represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Chad N. Boudreaux sold 787 shares of Huntington Ingalls Industries stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $314.17, for a total transaction of $247,251.79. Following the completion of the transaction, the vice president directly owned 20,441 shares of the company’s stock, valued at $6,421,948.97. The trade was a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,103 shares of company stock worth $5,477,768. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Huntington Ingalls Industries

Several large investors have recently added to or reduced their stakes in HII. CYBER HORNET ETFs LLC purchased a new position in shares of Huntington Ingalls Industries in the 2nd quarter worth approximately $25,000. Rakuten Securities Inc. raised its holdings in Huntington Ingalls Industries by 140.0% during the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock valued at $26,000 after buying an additional 63 shares during the period. SouthState Corp boosted its stake in Huntington Ingalls Industries by 310.0% during the second quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock worth $30,000 after buying an additional 93 shares during the period. Anchor Investment Management LLC boosted its stake in Huntington Ingalls Industries by 400.0% during the second quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company’s stock worth $30,000 after buying an additional 100 shares during the period. Finally, Versant Capital Management Inc increased its position in Huntington Ingalls Industries by 120.0% during the third quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 60 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

About Huntington Ingalls Industries

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.