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

Huntington Ingalls Industries, Inc. (NYSE:HII) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Friday, November 29th will be paid a dividend of 1.35 per share by the aerospace company on Friday, December 13th. This represents a $5.40 annualized dividend and a yield of 2.92%. 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 increased its dividend payment by an average of 5.9% annually over the last three years and has raised its dividend every year for the last 12 years. Huntington Ingalls Industries has a dividend payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Huntington Ingalls Industries to earn $18.84 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 27.6%.

Huntington Ingalls Industries Stock Down 26.2 %

Shares of NYSE HII opened at $184.96 on Friday. Huntington Ingalls Industries has a 12-month low of $184.29 and a 12-month high of $299.50. The firm’s 50-day simple moving average is $262.32 and its 200 day simple moving average is $259.56. The company has a quick ratio of 0.76, a current ratio of 0.82 and a debt-to-equity ratio of 0.41. The company has a market cap of $7.25 billion, a price-to-earnings ratio of 9.81, a price-to-earnings-growth ratio of 2.19 and a beta of 0.52.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, August 1st. The aerospace company reported $4.38 EPS for the quarter, beating the consensus estimate of $3.61 by $0.77. Huntington Ingalls Industries had a net margin of 6.35% and a return on equity of 18.55%. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the firm earned $3.27 earnings per share. Huntington Ingalls Industries’s revenue was up 6.8% compared to the same quarter last year. On average, research analysts expect that Huntington Ingalls Industries will post 16.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HII shares. JPMorgan Chase & Co. cut Huntington Ingalls Industries from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $280.00 to $285.00 in a research note on Monday, September 9th. Vertical Research downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating and set a $275.00 target price on the stock. in a research report on Thursday, October 10th. StockNews.com cut shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Wolfe Research lowered shares of Huntington Ingalls Industries from an “outperform” rating to a “peer perform” rating in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Huntington Ingalls Industries currently has a consensus rating of “Hold” and a consensus price target of $290.00.

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.