Huntington Ingalls Industries (NYSE:HII) Coverage Initiated at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company began coverage on shares of Huntington Ingalls Industries (NYSE:HII) in a research report issued on Wednesday. The brokerage set an “equal weight” rating and a $400.00 price target on the aerospace company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 5.49% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price target on Huntington Ingalls Industries from $384.00 to $425.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Melius Research upgraded shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research report on Monday, January 5th. TD Cowen upped their price target on shares of Huntington Ingalls Industries from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Citigroup lifted their price objective on shares of Huntington Ingalls Industries from $450.00 to $465.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings upgraded shares of Huntington Ingalls Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 19th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $385.89.

Huntington Ingalls Industries Stock Up 2.7%

Shares of HII stock opened at $379.18 on Wednesday. The company’s fifty day simple moving average is $417.24 and its two-hundred day simple moving average is $353.32. Huntington Ingalls Industries has a 52 week low of $177.42 and a 52 week high of $460.00. The stock has a market cap of $14.88 billion, a P/E ratio of 24.67, a PEG ratio of 1.51 and a beta of 0.32. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 0.53.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Thursday, February 5th. The aerospace company reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.72 by $0.32. Huntington Ingalls Industries had a return on equity of 12.28% and a net margin of 4.85%.The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the business posted $3.15 earnings per share. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. Analysts predict that Huntington Ingalls Industries will post 13.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP Chad N. Boudreaux sold 4,400 shares of Huntington Ingalls Industries stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $422.45, for a total transaction of $1,858,780.00. Following the completion of the transaction, the vice president directly owned 20,360 shares of the company’s stock, valued at approximately $8,601,082. The trade was a 17.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric D. Chewning sold 1,700 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total transaction of $736,848.00. Following the completion of the sale, the executive vice president directly owned 1,949 shares in the company, valued at $844,774.56. This trade represents a 46.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Korea Investment CORP bought a new position in Huntington Ingalls Industries in the 2nd quarter valued at $1,604,000. Primoris Wealth Advisors LLC bought a new stake in shares of Huntington Ingalls Industries during the third quarter worth $2,260,000. CWA Asset Management Group LLC boosted its stake in shares of Huntington Ingalls Industries by 51.2% during the third quarter. CWA Asset Management Group LLC now owns 24,746 shares of the aerospace company’s stock valued at $7,125,000 after purchasing an additional 8,384 shares during the period. SS&H Financial Advisors Inc. boosted its stake in shares of Huntington Ingalls Industries by 76.7% during the third quarter. SS&H Financial Advisors Inc. now owns 8,120 shares of the aerospace company’s stock valued at $2,338,000 after purchasing an additional 3,525 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in shares of Huntington Ingalls Industries by 31.2% in the third quarter. Jones Financial Companies Lllp now owns 12,560 shares of the aerospace company’s stock worth $3,502,000 after purchasing an additional 2,990 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

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.