Huntington Ingalls Industries (NYSE:HII) Price Target Cut to $195.00 by Analysts at Bank of America

Huntington Ingalls Industries (NYSE:HII) had its target price decreased by Bank of America from $250.00 to $195.00 in a report published on Wednesday,Benzinga reports. Bank of America currently has an underperform rating on the aerospace company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Barclays cut their price objective on shares of Huntington Ingalls Industries from $290.00 to $220.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. The Goldman Sachs Group cut their price objective on Huntington Ingalls Industries from $226.00 to $194.00 and set a “sell” rating for the company in a research report on Friday, November 1st. JPMorgan Chase & Co. lowered shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $280.00 to $285.00 in a research note on Monday, September 9th. Wolfe Research downgraded shares of Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a research note on Thursday, October 10th. Finally, StockNews.com lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $228.89.

Huntington Ingalls Industries Price Performance

Shares of Huntington Ingalls Industries stock opened at $204.00 on Wednesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.79 and a quick ratio of 0.73. The business has a 50 day simple moving average of $248.05 and a two-hundred day simple moving average of $254.76. The stock has a market capitalization of $7.98 billion, a P/E ratio of 11.52, a PEG ratio of 1.74 and a beta of 0.55. Huntington Ingalls Industries has a 12 month low of $184.29 and a 12 month high of $299.50.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Thursday, October 31st. The aerospace company reported $2.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.84 by ($1.28). Huntington Ingalls Industries had a net margin of 5.99% and a return on equity of 16.89%. The firm had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the business posted $3.70 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, analysts predict that Huntington Ingalls Industries will post 15.41 EPS for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.65%. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. Huntington Ingalls Industries’s payout ratio is presently 29.36%.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, VP D R. Wyatt sold 400 shares of Huntington Ingalls Industries stock in a transaction on Monday, November 11th. The shares were sold at an average price of $205.24, for a total transaction of $82,096.00. Following the sale, the vice president now directly owns 19,627 shares in the company, valued at $4,028,245.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Hedge Funds Weigh In On Huntington Ingalls Industries

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of Huntington Ingalls Industries by 5.6% in the third quarter. FMR LLC now owns 3,519,111 shares of the aerospace company’s stock valued at $930,383,000 after purchasing an additional 187,411 shares during the period. Van ECK Associates Corp grew its position in Huntington Ingalls Industries by 94.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,778,210 shares of the aerospace company’s stock valued at $455,222,000 after buying an additional 863,800 shares during the last quarter. AQR Capital Management LLC increased its stake in Huntington Ingalls Industries by 41.6% in the 2nd quarter. AQR Capital Management LLC now owns 732,587 shares of the aerospace company’s stock valued at $180,458,000 after buying an additional 215,362 shares during the period. Earnest Partners LLC raised its position in Huntington Ingalls Industries by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 638,680 shares of the aerospace company’s stock worth $157,326,000 after buying an additional 11,693 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Huntington Ingalls Industries by 8.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 521,426 shares of the aerospace company’s stock worth $128,443,000 after acquiring an additional 40,942 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

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.