Bank of America Has Lowered Expectations for Huntington Ingalls Industries (NYSE:HII) Stock Price

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

HII has been the subject of a number of other research reports. JPMorgan Chase & Co. downgraded Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $280.00 to $285.00 in a report on Monday, September 9th. The Goldman Sachs Group dropped their target price on Huntington Ingalls Industries from $226.00 to $194.00 and set a “sell” rating for the company in a report on Friday, November 1st. Vertical Research downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 target price for the company. in a report on Thursday, October 10th. Wolfe Research downgraded Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. Finally, TD Cowen downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $180.00 target price for the company. in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $228.89.

Huntington Ingalls Industries Stock Performance

Huntington Ingalls Industries stock traded down $1.77 during mid-day trading on Wednesday, hitting $193.56. 493,576 shares of the company’s stock traded hands, compared to its average volume of 335,294. The firm has a 50 day simple moving average of $245.02 and a two-hundred day simple moving average of $253.76. Huntington Ingalls Industries has a fifty-two week low of $184.29 and a fifty-two week high of $299.50. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of 1.75 and a beta of 0.55. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.79 and a quick ratio of 0.73.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings results on Thursday, October 31st. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the business earned $3.70 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts expect that Huntington Ingalls Industries will post 15.31 EPS for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date is Friday, November 29th. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. Huntington Ingalls Industries’s payout ratio is currently 29.36%.

Insider Buying and Selling at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP D R. Wyatt sold 400 shares of Huntington Ingalls Industries stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $205.24, for a total value of $82,096.00. Following the transaction, the vice president now owns 19,627 shares in the company, valued at $4,028,245.48. The trade was a 2.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.

Institutional Trading of Huntington Ingalls Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Huntington Ingalls Industries during the second quarter worth about $26,000. Kathleen S. Wright Associates Inc. bought a new stake in Huntington Ingalls Industries in the third quarter valued at approximately $29,000. Evermay Wealth Management LLC bought a new stake in Huntington Ingalls Industries in the first quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in Huntington Ingalls Industries in the second quarter valued at approximately $35,000. Finally, Rothschild Investment LLC bought a new stake in Huntington Ingalls Industries in the second quarter valued at approximately $37,000. 90.46% of the stock is currently owned by institutional investors.

About Huntington Ingalls Industries

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.