Huntington Ingalls Industries Inc (HII) Rating Lowered to Hold at Zacks Investment Research

Huntington Ingalls Industries Inc (NYSE:HII) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, May 8th.

According to Zacks, “Huntington Ingalls started off 2017 on a dismal note. Its first quarter revenue as well as earnings figures missed the Zacks Consensus Estimate. On a year over year basis also, results were disappointing. Backlog also dropped slightly. Nevertheless, being the nation’s largest military shipbuilder, Huntington Ingalls continues to boast stable financials and regular cash returns to shareholders. Further, the company outperformed the Zacks categorized Aerospace-Defense industry, in the last twelve months. Going forward, Huntington Ingalls projects invest capital worth $1.5 billion by 2020 to strengthen and protect its core shipbuilding business. That said, Huntington Ingalls' limited commercial exposure and high dependence on the government might be a heavy blow to margins amid uncertain U.S. defense spending trends.”

Several other equities analysts also recently weighed in on HII. Bank of America Corp upgraded shares of Huntington Ingalls Industries from a “neutral” rating to a “buy” rating in a report on Thursday, January 12th. Barclays PLC reiterated a “sell” rating and issued a $179.00 price target on shares of Huntington Ingalls Industries in a report on Friday, January 20th. Stifel Nicolaus upped their price objective on Huntington Ingalls Industries from $135.00 to $150.00 and gave the stock a “sell” rating in a research report on Friday, February 17th. Credit Suisse Group AG restated a “hold” rating and issued a $203.00 price objective on shares of Huntington Ingalls Industries in a research report on Monday, February 20th. Finally, Citigroup Inc lowered Huntington Ingalls Industries from a “buy” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research report on Wednesday, March 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Huntington Ingalls Industries presently has a consensus rating of “Hold” and an average target price of $196.71.

Analyst Recommendations for Huntington Ingalls Industries (NYSE:HII)

Huntington Ingalls Industries (NYSE:HII) traded up 2.71% during mid-day trading on Monday, hitting $195.49. 425,810 shares of the stock traded hands. The company’s 50 day moving average price is $199.17 and its 200-day moving average price is $193.99. Huntington Ingalls Industries has a 1-year low of $146.52 and a 1-year high of $220.68. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 16.52 and a beta of 1.11.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings results on Thursday, May 4th. The aerospace company reported $2.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.72 by $0.16. Huntington Ingalls Industries had a return on equity of 29.26% and a net margin of 6.04%. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company posted $2.38 EPS. Huntington Ingalls Industries’s quarterly revenue was down 2.2% compared to the same quarter last year. Analysts predict that Huntington Ingalls Industries will post $11.15 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Investors of record on Friday, May 26th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Wednesday, May 24th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 26.67%.

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In related news, VP Christopher D. Kastner sold 12,665 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $189.42, for a total transaction of $2,399,004.30. Following the completion of the transaction, the vice president now directly owns 39,581 shares in the company, valued at approximately $7,497,433.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William R. Ermatinger sold 5,000 shares of Huntington Ingalls Industries stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $218.92, for a total value of $1,094,600.00. Following the completion of the transaction, the vice president now owns 35,370 shares of the company’s stock, valued at approximately $7,743,200.40. The disclosure for this sale can be found here. Insiders have sold a total of 26,675 shares of company stock valued at $5,387,544 over the last 90 days. 2.76% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Great West Life Assurance Co. Can increased its stake in Huntington Ingalls Industries by 2.8% in the third quarter. Great West Life Assurance Co. Can now owns 27,888 shares of the aerospace company’s stock worth $4,277,000 after buying an additional 754 shares during the last quarter. Chicago Equity Partners LLC increased its stake in shares of Huntington Ingalls Industries by 30.1% in the third quarter. Chicago Equity Partners LLC now owns 20,215 shares of the aerospace company’s stock valued at $3,101,000 after buying an additional 4,680 shares in the last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in Huntington Ingalls Industries during the third quarter valued at approximately $132,000. Rothschild Asset Management Inc. acquired a new position in Huntington Ingalls Industries during the third quarter valued at approximately $520,000. Finally, First Citizens Bank & Trust Co. raised its position in Huntington Ingalls Industries by 1.3% in the third quarter. First Citizens Bank & Trust Co. now owns 3,728 shares of the aerospace company’s stock valued at $572,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 88.59% of the company’s stock.

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.

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