Huntington Ingalls Industries (NYSE:HII) was upgraded by investment analysts at Cowen from a “market perform” rating to an “outperform” rating in a report released on Friday.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Credit Suisse Group reaffirmed a “neutral” rating and set a $241.00 target price (up from $211.00) on shares of Huntington Ingalls Industries in a report on Thursday, November 9th. Citigroup reaffirmed a “neutral” rating and set a $233.00 target price (up from $224.00) on shares of Huntington Ingalls Industries in a report on Monday, October 9th. Finally, ValuEngine raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $227.43.
Shares of Huntington Ingalls Industries (NYSE HII) traded up $2.30 during mid-day trading on Friday, reaching $243.77. 514,649 shares of the company’s stock traded hands, compared to its average volume of 770,854. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.52 and a quick ratio of 1.38. The firm has a market capitalization of $11,030.00, a P/E ratio of 18.36, a PEG ratio of 1.25 and a beta of 1.15. Huntington Ingalls Industries has a 1 year low of $183.42 and a 1 year high of $253.44.
Huntington Ingalls Industries declared that its Board of Directors has approved a stock buyback program on Tuesday, November 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
In other news, Director Philip M. Bilden acquired 2,200 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were acquired at an average cost of $234.11 per share, with a total value of $515,042.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP D R. Wyatt sold 800 shares of Huntington Ingalls Industries stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $240.33, for a total transaction of $192,264.00. Following the completion of the transaction, the vice president now directly owns 19,065 shares in the company, valued at $4,581,891.45. The disclosure for this sale can be found here. 2.22% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in HII. Cerebellum GP LLC bought a new position in Huntington Ingalls Industries in the fourth quarter valued at approximately $100,000. Howe & Rusling Inc. boosted its position in Huntington Ingalls Industries by 4,844.4% in the third quarter. Howe & Rusling Inc. now owns 445 shares of the aerospace company’s stock valued at $101,000 after buying an additional 436 shares in the last quarter. Welch Group LLC acquired a new stake in Huntington Ingalls Industries in the fourth quarter valued at approximately $101,000. Toronto Dominion Bank boosted its position in Huntington Ingalls Industries by 6.8% in the second quarter. Toronto Dominion Bank now owns 565 shares of the aerospace company’s stock valued at $105,000 after buying an additional 36 shares in the last quarter. Finally, HL Financial Services LLC acquired a new stake in Huntington Ingalls Industries in the fourth quarter valued at approximately $212,000. 84.12% of the stock is currently owned by institutional investors and hedge funds.
About Huntington Ingalls Industries
Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.
