Huntington Ingalls Industries (NYSE:HII) Given New $352.00 Price Target at Sanford C. Bernstein

Huntington Ingalls Industries (NYSE:HII) had its price target increased by equities research analysts at Sanford C. Bernstein from $304.00 to $352.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the aerospace company’s stock. Sanford C. Bernstein‘s price target suggests a potential upside of 10.91% from the company’s previous close.

A number of other research analysts also recently weighed in on HII. Citigroup lifted their price target on Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a report on Friday, July 31st. Wolfe Research raised 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 note on Friday, July 31st. Weiss Ratings upgraded Huntington Ingalls Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 31st. Wells Fargo & Company lifted their target price on Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Huntington Ingalls Industries has a consensus rating of “Moderate Buy” and a consensus target price of $368.71.

Huntington Ingalls Industries Trading Up 1.2%

NYSE HII traded up $3.69 on Tuesday, hitting $317.39. 63,502 shares of the stock were exchanged, compared to its average volume of 532,078. Huntington Ingalls Industries has a 52-week low of $255.35 and a 52-week high of $460.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.23 and a quick ratio of 1.14. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 1.04 and a beta of 0.21. The company’s 50-day moving average price is $278.31 and its two-hundred day moving average price is $335.62.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Thursday, October 29th. The aerospace company reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $1.12. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.38 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The company’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.68 EPS. Research analysts predict that Huntington Ingalls Industries will post 18.60 EPS for the current year.

Insider Activity at Huntington Ingalls Industries

In other news, CEO Christopher Kastner sold 13,070 shares of the business’s stock in a transaction 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 transaction, the chief executive officer directly owned 11,224 shares in the company, valued at $3,646,902.08. The trade was a 53.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Huntington Ingalls Industries

Hedge funds and other institutional investors have recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Huntington Ingalls Industries in the second quarter valued at approximately $2,376,000. Corient Private Wealth LP lifted its stake in shares of Huntington Ingalls Industries by 51.5% in the second quarter. Corient Private Wealth LP now owns 25,114 shares of the aerospace company’s stock worth $7,029,000 after buying an additional 8,532 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Huntington Ingalls Industries in the second quarter worth $75,094,000. Meeder Asset Management Inc. boosted its holdings in shares of Huntington Ingalls Industries by 102.3% during the 1st quarter. Meeder Asset Management Inc. now owns 13,009 shares of the aerospace company’s stock worth $4,942,000 after buying an additional 6,579 shares during the period. Finally, WCM Investment Management LLC bought a new stake in shares of Huntington Ingalls Industries during the 1st quarter worth $16,291,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc (NYSE:HII) is an American defense company that designs, builds, maintains and modernizes ships for the U.S. Navy and other government customers. Its shipbuilding activities include nuclear-powered aircraft carriers, submarines, amphibious assault ships, destroyers and other surface vessels, along with fleet sustainment and modernization services.

HII operates through its Newport News Shipbuilding and Ingalls Shipbuilding divisions. Newport News Shipbuilding is involved in the construction and maintenance of nuclear-powered aircraft carriers and submarines, while Ingalls Shipbuilding builds surface combatants and amphibious ships.