Huntington Ingalls Industries Stock Sinks, Time To Get On-Board?

Question: Who protects international shipping lanes all around the world?

Answer: The United States Navy.

Follow-up question: Who designs and builds many of the United States Navy’s vessels, and is also the sole developer of nuclear-powered aircraft carriers?

Answer: Huntington Ingalls Industries.

Huntington Ingalls Industries ($HII) is one of the lesser-known defense contractors. Yet, this is a well-established and essential business, tracing its roots back to the 1800’s.

The company is America’s sole supplier of nuclear-powered aircraft carriers. And, Huntington Ingalls is one of only two defense contractors capable of building nuclear-powered submarines. This proprietary business advantage means Huntington Ingalls always has work. And the company currently has a $48.5 billion backlog in U.S. Navy orders.

Despite the recession-proof business of building and maintaining ships for the largest military on Earth, Huntington Ingalls stock is crashing.

Shares recently dropped by more than -20% in a single day.

And the company is now down by more than -27% since the start of 2024.