Eric Chewning Sells 1,700 Shares of Huntington Ingalls Industries (NYSE:HII) Stock

Key Points

• EVP Eric Chewning sold 1,700 HII shares at an average price of $433.44, trimming his position by 46.59% to 1,949 shares; the $736,848 transaction was disclosed in an SEC filing.
• HII shares fell about 3.5% to $421.62 on Thursday with below-average volume; the stock has a $16.54 billion market cap and trades between a 12-month low of $177.42 and high of $460.00.
• HII beat quarterly estimates, reporting $4.04 EPS and $3.48B revenue (revenue +15.7% YoY), and declared a $1.38 quarterly dividend (1.3% yield) with an ex-dividend date of Feb 27 and payment on Mar 13.

Huntington Ingalls Industries, Inc. (NYSE:HII - Get Free Report) EVP Eric Chewning sold 1,700 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total value of $736,848.00. Following the transaction, the executive vice president owned 1,949 shares in the company, valued at $844,774.56. This trade represents a 46.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Huntington Ingalls Industries Stock Down 3.5%

Shares of NYSE HII traded down $15.41 during trading on Thursday, reaching $421.62. The company had a trading volume of 485,064 shares, compared to its average volume of 605,617. The company has a quick ratio of 1.06, a current ratio of 1.13 and a debt-to-equity ratio of 0.53. The stock has a market cap of $16.54 billion, a PE ratio of 27.43, a P/E/G ratio of 1.80 and a beta of 0.32. Huntington Ingalls Industries, Inc. has a 12-month low of $177.42 and a 12-month high of $460.00. The business's 50-day moving average is $406.00 and its 200 day moving average is $334.46.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The aerospace company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.32. The firm had revenue of $3.48 billion during the quarter, compared to analysts' expectations of $3.09 billion. Huntington Ingalls Industries had a net margin of 4.85% and a return on equity of 12.28%. The firm's quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.15 earnings per share. As a group, equities analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, February 27th. Huntington Ingalls Industries's payout ratio is currently 35.91%.

Institutional Trading of Huntington Ingalls Industries

Large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in Huntington Ingalls Industries by 40.1% in the first quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company's stock valued at $42,000 after purchasing an additional 59 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in Huntington Ingalls Industries in the second quarter valued at about $481,000. Atria Investments Inc increased its holdings in shares of Huntington Ingalls Industries by 6.1% in the 2nd quarter. Atria Investments Inc now owns 7,886 shares of the aerospace company's stock valued at $1,904,000 after purchasing an additional 455 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Huntington Ingalls Industries by 1.4% in the 2nd quarter. Amalgamated Bank now owns 7,577 shares of the aerospace company's stock worth $1,830,000 after acquiring an additional 104 shares during the period. Finally, Strs Ohio acquired a new position in shares of Huntington Ingalls Industries during the 2nd quarter worth $1,772,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on HII shares. Weiss Ratings raised shares of Huntington Ingalls Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, February 19th. The Goldman Sachs Group raised their price objective on Huntington Ingalls Industries from $384.00 to $425.00 and gave the stock a "buy" rating in a research report on Tuesday, January 20th. Bank of America raised shares of Huntington Ingalls Industries from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $300.00 to $400.00 in a report on Thursday, February 12th. Melius Research raised Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a report on Monday, January 5th. Finally, Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $421.00 price target on shares of Huntington Ingalls Industries in a report on Wednesday, February 11th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $370.38.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries NYSE: HII is America's largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company's products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman's shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.

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