Huntington Ingalls Industries (NYSE:HII) Reaches New 12-Month High Following Analyst Upgrade

Huntington Ingalls Industries, Inc. (NYSE:HII) reached a new 52-week high on Monday after Melius upgraded the stock from a hold rating to a buy rating. The stock traded as high as $365.92 and last traded at $364.4190, with a volume of 106650 shares. The stock had previously closed at $349.75.

Several other brokerages have also recently commented on HII. JPMorgan Chase & Co. increased their target price on Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. The Goldman Sachs Group boosted their target price on shares of Huntington Ingalls Industries from $316.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. TD Cowen raised their price target on shares of Huntington Ingalls Industries from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Huntington Ingalls Industries in a report on Wednesday, October 8th. Finally, Citigroup assumed coverage on Huntington Ingalls Industries in a research note on Friday, December 12th. They issued a “buy” rating and a $376.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $325.75.

Insider Buying and Selling

In related news, CAO Nicolas G. Schuck sold 466 shares of Huntington Ingalls Industries stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $314.36, for a total transaction of $146,491.76. Following the transaction, the chief accounting officer owned 2,418 shares of the company’s stock, valued at $760,122.48. This trade represents a 16.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher D. Kastner sold 15,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 68,139 shares of the company’s stock, valued at approximately $21,876,707.34. This represents a 18.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 17,103 shares of company stock worth $5,477,768. Corporate insiders own 0.72% of the company’s stock.

Institutional Trading of Huntington Ingalls Industries

A number of large investors have recently made changes to their positions in HII. Baird Financial Group Inc. lifted its holdings in Huntington Ingalls Industries by 16.6% during the first quarter. Baird Financial Group Inc. now owns 6,600 shares of the aerospace company’s stock worth $1,347,000 after acquiring an additional 942 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Huntington Ingalls Industries by 5.3% during the 1st quarter. Royal Bank of Canada now owns 106,415 shares of the aerospace company’s stock valued at $21,713,000 after purchasing an additional 5,383 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Huntington Ingalls Industries by 15.5% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 60,660 shares of the aerospace company’s stock valued at $12,377,000 after purchasing an additional 8,130 shares during the period. Advisors Asset Management Inc. increased its stake in Huntington Ingalls Industries by 26.5% during the 1st quarter. Advisors Asset Management Inc. now owns 9,276 shares of the aerospace company’s stock worth $1,893,000 after purchasing an additional 1,941 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Huntington Ingalls Industries by 57.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 175,765 shares of the aerospace company’s stock worth $35,863,000 after buying an additional 64,294 shares during the period. Institutional investors own 90.46% of the company’s stock.

Huntington Ingalls Industries Stock Performance

The stock has a market cap of $14.29 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 1.48 and a beta of 0.36. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.14 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $321.37 and its two-hundred day simple moving average is $286.56.

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

Huntington Ingalls Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given a dividend of $1.38 per share. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. This represents a $5.52 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, November 28th. Huntington Ingalls Industries’s payout ratio is currently 38.12%.

About Huntington Ingalls Industries

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.