Key Points
- CEO Christopher Kastner sold 13,070 HII shares for approximately $4.25 million at an average price of $324.92 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct ownership by 53.8% to 11,224 shares.
- Huntington Ingalls reported quarterly earnings of $5.27 per share, surpassing estimates of $3.79, while revenue rose 10.9% year over year to $3.42 billion.
- The company declared a quarterly dividend of $1.38, equivalent to $5.52 annually and a 1.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $378.88.
Huntington Ingalls Industries, Inc. (NYSE:HII - Get Free Report) CEO Christopher Kastner sold 13,070 shares of Huntington Ingalls Industries stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the completion of the transaction, the chief executive officer directly owned 11,224 shares in the company, valued at $3,646,902.08. This trade represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Huntington Ingalls Industries Stock Down 0.9%
Shares of HII opened at $327.73 on Wednesday. The firm has a 50 day simple moving average of $292.76 and a two-hundred day simple moving average of $354.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.23 and a quick ratio of 1.14. Huntington Ingalls Industries, Inc. has a one year low of $262.66 and a one year high of $460.00. The company has a market cap of $12.91 billion, a P/E ratio of 19.53, a P/E/G ratio of 1.27 and a beta of 0.24.
Huntington Ingalls Industries (NYSE:HII - Get Free Report) last issued its earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, beating analysts' consensus estimates of $3.79 by $1.48. Huntington Ingalls Industries had a return on equity of 12.89% and a net margin of 5.01%.The firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the business posted $3.86 EPS. The company's revenue was up 10.9% compared to the same quarter last year. Research analysts forecast that Huntington Ingalls Industries, Inc. will post 18.04 EPS for the current fiscal year.
Huntington Ingalls Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a $1.38 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $5.52 annualized dividend and a yield of 1.7%. Huntington Ingalls Industries's dividend payout ratio (DPR) is 32.90%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Wolfe Research upgraded shares of Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 price objective for the company in a research report on Friday, July 31st. Wells Fargo & Company raised their target price on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 4th. Wall Street Zen cut shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Huntington Ingalls Industries in a report on Monday, August 3rd. Finally, Citigroup raised their price objective on Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $378.88.
Get Our Latest Analysis on Huntington Ingalls Industries
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in HII. Vise Technologies Inc. grew its holdings in Huntington Ingalls Industries by 21.4% during the 2nd quarter. Vise Technologies Inc. now owns 3,409 shares of the aerospace company's stock worth $954,000 after acquiring an additional 601 shares during the last quarter. Northcape Wealth Management LLC raised its stake in shares of Huntington Ingalls Industries by 0.7% during the second quarter. Northcape Wealth Management LLC now owns 8,123 shares of the aerospace company's stock valued at $2,273,000 after acquiring an additional 58 shares during the last quarter. Wellington Shields & Co. LLC lifted its holdings in shares of Huntington Ingalls Industries by 14.5% during the second quarter. Wellington Shields & Co. LLC now owns 1,975 shares of the aerospace company's stock worth $553,000 after purchasing an additional 250 shares during the period. Great Lakes Advisors LLC lifted its holdings in shares of Huntington Ingalls Industries by 3.4% during the second quarter. Great Lakes Advisors LLC now owns 2,290 shares of the aerospace company's stock worth $641,000 after purchasing an additional 76 shares during the period. Finally, Compass Wealth Management LLC bought a new stake in shares of Huntington Ingalls Industries in the second quarter worth $308,000. Institutional investors own 90.46% of the company's stock.
About Huntington Ingalls Industries
(
Get Free Report)
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.
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