Huntington Ingalls Industries (NYSE:HII) Hits New 52-Week High – Here’s What Happened

Huntington Ingalls Industries, Inc. (NYSE:HII) reached a new 52-week high during trading on Monday . The company traded as high as $396.81 and last traded at $393.5420, with a volume of 46208 shares traded. The stock had previously closed at $386.99.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HII shares. Citigroup began coverage on Huntington Ingalls Industries in a research note on Friday, December 12th. They set a “buy” rating and a $376.00 target price for the company. Sanford C. Bernstein reiterated a “market perform” rating and issued a $362.00 price target on shares of Huntington Ingalls Industries in a report on Friday, November 7th. Wall Street Zen lowered shares of Huntington Ingalls Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday. Melius raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $325.75.

Huntington Ingalls Industries Stock Up 1.3%

The firm’s 50 day simple moving average is $327.66 and its 200-day simple moving average is $291.36. The company has a current ratio of 1.14, a quick ratio of 1.06 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $15.38 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 1.57 and a beta of 0.36.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings data on Thursday, October 30th. The aerospace company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.56 EPS. Equities analysts expect that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a $1.38 dividend. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. This represents a $5.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, November 28th. Huntington Ingalls Industries’s dividend payout ratio is 38.12%.

Insider Buying and Selling

In other news, CEO Christopher D. Kastner sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was 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 in the company, valued at $21,876,707.34. This represents a 18.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Chad N. Boudreaux sold 787 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $314.17, for a total value of $247,251.79. Following the completion of the sale, the vice president directly owned 20,441 shares of the company’s stock, valued at approximately $6,421,948.97. The trade was a 3.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,103 shares of company stock worth $5,477,768 over the last 90 days. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HII. CYBER HORNET ETFs LLC acquired a new stake in Huntington Ingalls Industries in the 2nd quarter valued at about $25,000. Rakuten Securities Inc. increased its position in Huntington Ingalls Industries by 140.0% during the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after buying an additional 63 shares during the last quarter. SouthState Corp raised its stake in Huntington Ingalls Industries by 310.0% in the second quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock valued at $30,000 after buying an additional 93 shares during the period. Anchor Investment Management LLC lifted its position in shares of Huntington Ingalls Industries by 400.0% in the second quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Huntington Ingalls Industries by 120.0% during the 3rd quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company’s stock worth $32,000 after acquiring an additional 60 shares during the period. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Huntington Ingalls Industries Company Profile

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.