Huntington Ingalls Industries (NYSE:HII) Hits New 12-Month High Following Earnings Beat

Key Points

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Shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Get Free Report) hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $293.14 and last traded at $283.81, with a volume of 359122 shares. The stock had previously closed at $258.52.

The aerospace company reported $3.86 EPS for the quarter, beating the consensus estimate of $3.23 by $0.63. Huntington Ingalls Industries had a return on equity of 11.34% and a net margin of 4.54%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the business posted $4.38 earnings per share. Huntington Ingalls Industries's revenue was up 3.5% compared to the same quarter last year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Huntington Ingalls Industries's payout ratio is presently 40.42%.

Analysts Set New Price Targets

Several research analysts recently weighed in on HII shares. TD Cowen raised Huntington Ingalls Industries from a "hold" rating to a "buy" rating and upped their price target for the company from $250.00 to $300.00 in a research report on Thursday, July 10th. Wall Street Zen raised Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a research report on Saturday. Alembic Global Advisors raised Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 target price on the stock in a research report on Thursday, May 15th. The Goldman Sachs Group upped their target price on Huntington Ingalls Industries from $236.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, Barclays upped their target price on Huntington Ingalls Industries from $200.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Huntington Ingalls Industries currently has an average rating of "Hold" and an average target price of $251.38.

Insider Activity at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Chad N. Boudreaux sold 1,965 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $228.94, for a total value of $449,867.10. Following the sale, the vice president owned 21,228 shares of the company's stock, valued at $4,859,938.32. This trade represents a 8.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Anastasi D. Kelly sold 1,960 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $232.58, for a total value of $455,856.80. Following the completion of the sale, the director directly owned 17,485 shares in the company, valued at $4,066,661.30. This trade represents a 10.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,225 shares of company stock worth $1,207,207 in the last 90 days. 0.72% of the stock is owned by company insiders.

Institutional Trading of Huntington Ingalls Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HII. Sentry Investment Management LLC acquired a new stake in Huntington Ingalls Industries in the 1st quarter valued at approximately $26,000. HM Payson & Co. grew its holdings in shares of Huntington Ingalls Industries by 71.9% during the 1st quarter. HM Payson & Co. now owns 153 shares of the aerospace company's stock worth $31,000 after purchasing an additional 64 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Huntington Ingalls Industries during the 1st quarter worth approximately $31,000. Raiffeisen Bank International AG acquired a new stake in shares of Huntington Ingalls Industries during the 4th quarter worth approximately $36,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Huntington Ingalls Industries by 40.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company's stock worth $42,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Huntington Ingalls Industries Price Performance

The company has a market cap of $10.57 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 1.71 and a beta of 0.33. The company has a fifty day moving average price of $243.11 and a two-hundred day moving average price of $216.01. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.55.

About Huntington Ingalls Industries

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.