I've modified my original answer. In Sun's implementation of InetAddress, the hashCode method produces the integer representation of the IPv4 address, but as the commenters correctly pointed out, this is not guaranteed by the JavaDoc. Therefore, I decided to use the ByteBuffer class to calculate the value of the IPv4 address instead.
import java.net.InetAddress;
import java.nio.ByteBuffer;
// ...
try {
    // Convert from integer to an IPv4 address
    InetAddress foo = InetAddress.getByName("2130706433");
    String address = foo.getHostAddress();
    System.out.println(address);
    // Convert from an IPv4 address to an integer
    InetAddress bar = InetAddress.getByName("127.0.0.1");
    int value = ByteBuffer.wrap(bar.getAddress()).getInt();
    System.out.println(value);
} catch (Exception e) {
    e.printStackTrace();
}
The output will be:
127.0.0.1
2130706433