Huntington Ingalls Industries (NYSE:HII) Downgraded by TD Cowen to “Hold”

TD Cowen downgraded shares of Huntington Ingalls Industries (NYSE:HII) from a buy rating to a hold rating in a research report released on Friday, MarketBeat Ratings reports. TD Cowen currently has $180.00 price target on the aerospace company’s stock.

Other research analysts also recently issued research reports about the company. StockNews.com downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. cut Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $280.00 to $285.00 in a research note on Monday, September 9th. Wolfe Research lowered Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a research report on Thursday, October 10th. Finally, Vertical Research downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 target price for the company. in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $233.13.

Huntington Ingalls Industries Stock Up 1.0 %

HII opened at $191.04 on Friday. The firm has a market capitalization of $7.49 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. Huntington Ingalls Industries has a one year low of $184.29 and a one year high of $299.50. The company has a fifty day moving average price of $260.62 and a 200-day moving average price of $258.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.79 and a quick ratio of 0.76.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings data on Thursday, October 31st. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.84 by ($1.28). Huntington Ingalls Industries had a return on equity of 16.89% and a net margin of 5.99%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that Huntington Ingalls Industries will post 16.49 earnings per share for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Friday, November 29th. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.30. Huntington Ingalls Industries’s payout ratio is 30.49%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its holdings in Huntington Ingalls Industries by 698.5% in the third quarter. Venturi Wealth Management LLC now owns 543 shares of the aerospace company’s stock worth $144,000 after acquiring an additional 475 shares in the last quarter. Delta Financial Advisors LLC raised its position in shares of Huntington Ingalls Industries by 162.5% in the 3rd quarter. Delta Financial Advisors LLC now owns 2,310 shares of the aerospace company’s stock worth $611,000 after purchasing an additional 1,430 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in Huntington Ingalls Industries in the 3rd quarter worth about $47,698,000. Axxcess Wealth Management LLC grew its position in Huntington Ingalls Industries by 4.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 1,584 shares of the aerospace company’s stock valued at $419,000 after purchasing an additional 74 shares during the last quarter. Finally, Covestor Ltd increased its stake in Huntington Ingalls Industries by 16.5% during the 3rd quarter. Covestor Ltd now owns 742 shares of the aerospace company’s stock valued at $196,000 after purchasing an additional 105 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

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.