Huntington Ingalls Industries (NYSE:HII) Reaches New 1-Year High After Analyst Upgrade

Huntington Ingalls Industries, Inc. (NYSE:HII) shares hit a new 52-week high on Tuesday after The Goldman Sachs Group raised their price target on the stock from $384.00 to $425.00. The Goldman Sachs Group currently has a buy rating on the stock. Huntington Ingalls Industries traded as high as $432.00 and last traded at $425.2640, with a volume of 127559 shares changing hands. The stock had previously closed at $425.90.

HII has been the subject of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Huntington Ingalls Industries in a research note on Wednesday, October 8th. Melius Research raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research note on Monday, January 5th. Wall Street Zen raised Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a research note on Sunday. JPMorgan Chase & Co. raised their price objective on Huntington Ingalls Industries from $287.00 to $342.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Finally, TD Cowen lifted their target price on shares of Huntington Ingalls Industries from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $343.63.

Insider Buying and Selling

In related news, CEO Christopher D. Kastner sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 68,139 shares in the company, valued at approximately $21,876,707.34. This trade represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chad N. Boudreaux sold 787 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $314.17, for a total transaction of $247,251.79. Following the completion of the transaction, the vice president owned 20,441 shares in the company, valued at $6,421,948.97. The trade was a 3.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,103 shares of company stock valued at $5,477,768 over the last 90 days. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On Huntington Ingalls Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in shares of Huntington Ingalls Industries in the 4th quarter valued at $10,443,000. Jackson Square Capital LLC lifted its position in Huntington Ingalls Industries by 1.9% in the fourth quarter. Jackson Square Capital LLC now owns 4,330 shares of the aerospace company’s stock valued at $1,473,000 after buying an additional 82 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new position in Huntington Ingalls Industries during the fourth quarter worth about $220,000. Prime Capital Investment Advisors LLC increased its position in shares of Huntington Ingalls Industries by 16.9% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 831 shares of the aerospace company’s stock valued at $283,000 after acquiring an additional 120 shares during the last quarter. Finally, Oak Thistle LLC acquired a new position in shares of Huntington Ingalls Industries in the 4th quarter worth approximately $1,059,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Huntington Ingalls Industries Price Performance

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 company’s fifty day moving average is $344.01 and its two-hundred day moving average is $300.59. The stock has a market cap of $16.64 billion, a price-to-earnings ratio of 29.32, a P/E/G ratio of 1.68 and a beta of 0.36.

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

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.