Huntington Ingalls Industries (NYSE:HII) Stock Crosses Above 50 Day Moving Average – Here’s Why

Huntington Ingalls Industries, Inc. (NYSE:HII)’s stock price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $279.14 and traded as high as $281.36. Huntington Ingalls Industries shares last traded at $280.7580, with a volume of 386,159 shares traded.

Analyst Upgrades and Downgrades

HII has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on shares of 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. TD Cowen dropped their target price on shares of Huntington Ingalls Industries from $360.00 to $340.00 and set a “buy” rating for the company in a report on Friday, October 9th. Sanford C. Bernstein cut their target price on shares of Huntington Ingalls Industries from $327.00 to $304.00 and set a “market perform” rating for the company in a research report on Wednesday, October 14th. Citigroup upped their price target on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Wolfe Research upgraded shares of Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price target on the stock in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.75.

Huntington Ingalls Industries Stock Up 2.4%

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 firm has a 50-day simple moving average of $279.14 and a two-hundred day simple moving average of $337.75. The company has a market cap of $11.06 billion, a PE ratio of 16.73, a P/E/G ratio of 1.02 and a beta of 0.21.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, topping 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 company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the firm posted $3.86 earnings per share. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. Research analysts anticipate that Huntington Ingalls Industries, Inc. will post 18.51 earnings per share for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 27th will be given a dividend of $1.41 per share. The ex-dividend date is Friday, November 27th. This represents a $5.64 dividend on an annualized basis and a yield of 2.0%. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.38. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 32.90%.

Insider Buying and Selling

In related news, CEO Christopher Kastner sold 13,070 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were 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 of the company’s stock, 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. Corporate insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Huntington Ingalls Industries

Several hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its holdings in shares of Huntington Ingalls Industries by 10.1% during the third quarter. Oppenheimer & Co. Inc. now owns 1,949 shares of the aerospace company’s stock worth $521,000 after buying an additional 178 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Huntington Ingalls Industries by 6.4% in the third quarter. Park Avenue Securities LLC now owns 2,321 shares of the aerospace company’s stock valued at $620,000 after buying an additional 139 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Huntington Ingalls Industries by 15.7% during the third quarter. Apollon Wealth Management LLC now owns 1,033 shares of the aerospace company’s stock valued at $276,000 after buying an additional 140 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of Huntington Ingalls Industries during the third quarter valued at approximately $207,000. Finally, Bright Futures Wealth Management LLC. purchased a new position in shares of Huntington Ingalls Industries during the third quarter valued at approximately $370,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Huntington Ingalls Industries Company Profile

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.