Huntington Ingalls Industries, Inc. (NYSE:HII) Raises Dividend to $1.35 Per Share

Huntington Ingalls Industries, Inc. (NYSE:HII) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Stockholders of record on Friday, November 29th will be given a dividend of 1.35 per share by the aerospace company on Friday, December 13th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $1.30.

Huntington Ingalls Industries has raised its dividend payment by an average of 5.9% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Huntington Ingalls Industries has a payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Huntington Ingalls Industries to earn $16.10 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 33.5%.

Huntington Ingalls Industries Trading Up 0.7 %

Huntington Ingalls Industries stock opened at $199.33 on Thursday. The stock has a 50-day moving average price of $235.67 and a 200 day moving average price of $250.84. Huntington Ingalls Industries has a 52 week low of $184.29 and a 52 week high of $299.50. The stock has a market cap of $7.80 billion, a PE ratio of 11.26, a P/E/G ratio of 1.85 and a beta of 0.55. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 0.41.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, October 31st. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.84 by ($1.28). The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.87 billion. Huntington Ingalls Industries had a return on equity of 16.89% and a net margin of 5.99%. Huntington Ingalls Industries’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.70 earnings per share. Equities research analysts predict that Huntington Ingalls Industries will post 14.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HII has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price target on Huntington Ingalls Industries from $273.00 to $191.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. Bank of America lowered their price target on Huntington Ingalls Industries from $250.00 to $195.00 and set an “underperform” rating for the company in a report on Wednesday, November 13th. Barclays dropped their price objective on shares of Huntington Ingalls Industries from $290.00 to $220.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. StockNews.com cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. downgraded shares of Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $280.00 to $285.00 in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $228.89.

Insider Buying and Selling

In related news, VP D R. Wyatt sold 400 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $205.24, for a total transaction of $82,096.00. Following the transaction, the vice president now directly owns 19,627 shares of the company’s stock, valued at approximately $4,028,245.48. The trade was a 2.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

Huntington Ingalls Industries Company Profile

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.