Bank of America Corp DE Sells 62,065 Shares of Huntington Ingalls Industries, Inc. (NYSE:HII)

Bank of America Corp DE cut its stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 12.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,024 shares of the aerospace company's stock after selling 62,065 shares during the period. Bank of America Corp DE owned 1.14% of Huntington Ingalls Industries worth $84,285,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HII. Generali Asset Management SPA SGR bought a new stake in Huntington Ingalls Industries in the fourth quarter valued at about $2,056,000. Assetmark Inc. raised its position in shares of Huntington Ingalls Industries by 2,154.9% during the 4th quarter. Assetmark Inc. now owns 7,802 shares of the aerospace company's stock valued at $1,474,000 after acquiring an additional 7,456 shares in the last quarter. Northcape Wealth Management LLC bought a new position in Huntington Ingalls Industries during the fourth quarter worth $3,642,000. O Keefe Stevens Advisory Inc. boosted its holdings in Huntington Ingalls Industries by 63.0% in the fourth quarter. O Keefe Stevens Advisory Inc. now owns 3,465 shares of the aerospace company's stock worth $655,000 after purchasing an additional 1,339 shares during the period. Finally, Essential Planning LLC. bought a new stake in Huntington Ingalls Industries during the fourth quarter valued at $2,457,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Huntington Ingalls Industries Price Performance

Shares of NYSE HII traded up $4.94 during mid-day trading on Thursday, reaching $228.05. 385,364 shares of the company traded hands, compared to its average volume of 525,854. Huntington Ingalls Industries, Inc. has a fifty-two week low of $158.88 and a fifty-two week high of $285.81. The firm has a market cap of $8.95 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.15 and a beta of 0.31. The stock has a fifty day simple moving average of $211.56 and a 200-day simple moving average of $198.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.08 and a quick ratio of 1.01.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last issued its earnings results on Thursday, May 1st. The aerospace company reported $3.79 earnings per share for the quarter, topping analysts' consensus estimates of $2.90 by $0.89. The firm had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.80 billion. Huntington Ingalls Industries had a net margin of 4.77% and a return on equity of 12.81%. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $3.87 earnings per share. Equities research analysts anticipate that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, May 30th. Huntington Ingalls Industries's payout ratio is 38.90%.

Analysts Set New Price Targets

HII has been the subject of several research reports. Alembic Global Advisors raised shares of Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 price target for the company in a report on Thursday. Barclays upped their target price on Huntington Ingalls Industries from $200.00 to $235.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group boosted their price objective on Huntington Ingalls Industries from $236.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $244.56.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, CAO Nicolas G. Schuck sold 750 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $189.56, for a total value of $142,170.00. Following the completion of the sale, the chief accounting officer now directly owns 2,884 shares of the company's stock, valued at approximately $546,691.04. This represents a 20.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anastasi D. Kelly sold 1,960 shares of Huntington Ingalls Industries stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $232.58, for a total value of $455,856.80. Following the transaction, the director now directly owns 17,485 shares in the company, valued at approximately $4,066,661.30. This trade represents a 10.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,010 shares of company stock valued at $899,510 in the last three months. 0.72% of the stock is currently owned by company 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.