TD Cowen Cuts Huntington Ingalls Industries (NYSE:HII) Price Target to $340.00

Huntington Ingalls Industries (NYSE:HII) had its price target reduced by equities research analysts at TD Cowen from $360.00 to $340.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the aerospace company’s stock. TD Cowen’s price target suggests a potential upside of 27.72% from the company’s current price.

HII has been the subject of a number of other reports. Wells Fargo & Company raised their target price on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. Sanford C. Bernstein dropped their target price on Huntington Ingalls Industries from $341.00 to $327.00 and set a “market perform” rating on the stock in a report on Wednesday, September 23rd. Weiss Ratings raised Huntington Ingalls Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, August 31st. Citigroup lifted their target price on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Wolfe Research upgraded Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price target for the company in a research note on Friday, July 31st. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $364.62.

Huntington Ingalls Industries Stock Performance

HII stock traded up $1.18 during mid-day trading on Friday, reaching $266.20. The company had a trading volume of 68,485 shares, compared to its average volume of 526,548. Huntington Ingalls Industries has a one year low of $256.79 and a one year high of $460.00. The stock has a market capitalization of $10.49 billion, a P/E ratio of 15.86, a P/E/G ratio of 0.98 and a beta of 0.21. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $291.62 and its two-hundred day simple moving average is $313.75.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data 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 net margin of 5.01% and a return on equity of 12.89%. The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the business earned $3.86 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. Research analysts anticipate that Huntington Ingalls Industries will post 18.47 EPS for the current year.

Insider Transactions at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, CEO Christopher Kastner sold 13,070 shares of Huntington Ingalls Industries stock in a transaction on Monday, August 10th. The stock was sold at an average price of $324.92, for a total value of $4,246,704.40. Following the completion of the transaction, the chief executive officer owned 11,224 shares in the company, valued at approximately $3,646,902.08. The trade was a 53.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.80% of the company’s stock.

Institutional Trading of Huntington Ingalls Industries

Several large investors have recently made changes to their positions in the business. Personal CFO Solutions LLC increased its holdings in Huntington Ingalls Industries by 3.7% during the 1st quarter. Personal CFO Solutions LLC now owns 775 shares of the aerospace company’s stock worth $294,000 after purchasing an additional 28 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Huntington Ingalls Industries by 2.5% during the first quarter. Whittier Trust Co. now owns 1,532 shares of the aerospace company’s stock worth $625,000 after buying an additional 38 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Huntington Ingalls Industries by 3.0% during the first quarter. EverSource Wealth Advisors LLC now owns 1,523 shares of the aerospace company’s stock worth $579,000 after buying an additional 44 shares during the period. Empirical Finance LLC grew its holdings in shares of Huntington Ingalls Industries by 3.3% during the second quarter. Empirical Finance LLC now owns 1,480 shares of the aerospace company’s stock worth $414,000 after buying an additional 47 shares in the last quarter. Finally, Anchor Investment Management LLC grew its holdings in shares of Huntington Ingalls Industries by 44.0% during the fourth quarter. Anchor Investment Management LLC now owns 180 shares of the aerospace company’s stock worth $61,000 after buying an additional 55 shares in the last quarter. Institutional investors own 90.46% of the company’s stock.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc (NYSE:HII) is a U.S. defense company that designs, builds, maintains and modernizes military ships and provides technology services to government and defense customers. Its principal customers include the U.S. Navy, Marine Corps, Coast Guard, intelligence agencies and other federal organizations.

Through Newport News Shipbuilding, HII builds and services nuclear-powered aircraft carriers and supports the construction and maintenance of nuclear-powered submarines.