Huntington Ingalls Industries Inc. (HII) Sees Strong Trading Volume
Shares of Huntington Ingalls Industries Inc. (NYSE:HII) saw strong trading volume on Wednesday . 404,288 shares were traded during mid-day trading, an increase of 25% from the previous session’s volume of 322,862 shares.The stock last traded at $149.39 and had previously closed at $149.11.
Several analysts recently weighed in on the company. Zacks Investment Research raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating and set a $189.00 price objective for the company in a report on Monday, July 25th. Citigroup Inc. boosted their price objective on Huntington Ingalls Industries from $180.00 to $191.00 and gave the company a “buy” rating in a report on Tuesday, September 6th. Deutsche Bank AG reissued a “buy” rating and issued a $190.00 price objective (up from $167.00) on shares of Huntington Ingalls Industries in a report on Monday, July 11th. Cowen and Company lowered Huntington Ingalls Industries from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $185.00 to $165.00 in a report on Tuesday. Finally, Wells Fargo & Co. lowered Huntington Ingalls Industries from an “outperform” rating to a “market perform” rating in a report on Friday, August 5th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Huntington Ingalls Industries has a consensus rating of “Hold” and a consensus target price of $159.00.
The stock has a 50-day moving average of $164.97 and a 200 day moving average of $156.16. The firm has a market capitalization of $7.02 billion, a price-to-earnings ratio of 16.63 and a beta of 1.41.
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Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, August 4th. The company reported $2.32 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $2.32. Huntington Ingalls Industries had a net margin of 6.00% and a return on equity of 30.49%. The company earned $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the company earned $1.99 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Analysts anticipate that Huntington Ingalls Industries Inc. will post $10.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, August 26th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Wednesday, August 24th. Huntington Ingalls Industries’s dividend payout ratio is currently 22.17%.
In other news, VP D R. Wyatt sold 800 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $169.00, for a total transaction of $135,200.00. Following the completion of the transaction, the vice president now owns 20,249 shares of the company’s stock, valued at $3,422,081. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jerri F. Dickseski sold 750 shares of the company’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $169.34, for a total transaction of $127,005.00. Following the transaction, the vice president now directly owns 34,670 shares of the company’s stock, valued at approximately $5,871,017.80. The disclosure for this sale can be found here. Insiders own 2.76% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Huntington Ingalls Industries by 1.6% in the first quarter. Geode Capital Management LLC now owns 402,266 shares of the company’s stock worth $55,086,000 after buying an additional 6,275 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Huntington Ingalls Industries by 1.7% in the first quarter. UBS Asset Management Americas Inc. now owns 58,039 shares of the company’s stock worth $7,947,000 after buying an additional 985 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Huntington Ingalls Industries by 179.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 135,788 shares of the company’s stock worth $18,595,000 after buying an additional 87,135 shares in the last quarter. Clark Capital Management Group Inc. bought a new position in shares of Huntington Ingalls Industries during the first quarter worth approximately $235,000. Finally, Riverhead Capital Management LLC raised its position in shares of Huntington Ingalls Industries by 88.1% in the first quarter. Riverhead Capital Management LLC now owns 17,867 shares of the company’s stock worth $2,447,000 after buying an additional 8,367 shares in the last quarter. 88.59% of the stock is owned by institutional investors and hedge funds.
About Huntington Ingalls Industries
Huntington Ingalls Industries, Inc (HII) designs, builds, overhauls and repairs ships for the United States Navy and the United States Coast Guard. The Company is the designer, builder and refueler of nuclear powered aircraft carriers, a builder of amphibious assault and expeditionary warfare ships for the United States Navy and the sole builder of National Security Cutters (NSCs) for the United States Coast Guard.
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