13,629 Shares in Huntington Ingalls Industries, Inc. $HII Acquired by Chase Investment Counsel Corp

Key Points

• Chase Investment Counsel Corp opened a new position in Huntington Ingalls Industries, buying 13,629 shares valued at about $4.63 million. The stake represents 1.3% of its portfolio and is now its 28th-largest holding.
• Huntington Ingalls recently posted strong quarterly results, with EPS of $3.79 beating estimates and revenue of $3.10 billion topping forecasts. Revenue rose 13.4% year over year, and the company also announced a quarterly dividend of $1.38 per share.
• Analyst sentiment is mixed but slightly cautious: ratings currently average to “Hold” with a consensus price target of $393. Meanwhile, two insiders sold shares in recent transactions, and institutional investors own 90.46% of the stock.

Chase Investment Counsel Corp acquired a new position in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 13,629 shares of the aerospace company's stock, valued at approximately $4,634,000. Huntington Ingalls Industries accounts for 1.3% of Chase Investment Counsel Corp's investment portfolio, making the stock its 28th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HII. NBC Securities Inc. boosted its stake in shares of Huntington Ingalls Industries by 87.2% during the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company's stock valued at $30,000 after buying an additional 41 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Huntington Ingalls Industries during the 2nd quarter valued at $25,000. Rakuten Securities Inc. boosted its stake in shares of Huntington Ingalls Industries by 140.0% during the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock valued at $26,000 after buying an additional 63 shares during the period. Versant Capital Management Inc boosted its stake in shares of Huntington Ingalls Industries by 120.0% during the 3rd quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company's stock valued at $32,000 after buying an additional 60 shares during the period. Finally, Community Bank N.A. acquired a new stake in shares of Huntington Ingalls Industries during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 90.46% of the company's stock.

Analyst Ratings Changes

HII has been the subject of a number of research reports. TD Cowen decreased their target price on shares of Huntington Ingalls Industries from $460.00 to $420.00 and set a "buy" rating for the company in a research note on Thursday. Weiss Ratings lowered shares of Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group lifted their target price on shares of Huntington Ingalls Industries from $384.00 to $425.00 and gave the company a "buy" rating in a research note on Tuesday, January 20th. Bank of America raised shares of Huntington Ingalls Industries from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $300.00 to $400.00 in a research note on Thursday, February 12th. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $421.00 target price on shares of Huntington Ingalls Industries in a research note on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $393.00.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, EVP Eric D. Chewning sold 1,700 shares of Huntington Ingalls Industries stock in a transaction on Wednesday, March 4th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Chad N. Boudreaux sold 4,400 shares of Huntington Ingalls Industries stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $422.45, for a total transaction of $1,858,780.00. Following the completion of the transaction, the vice president owned 20,360 shares in the company, valued at $8,601,082. This trade represents a 17.77% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company's stock.

Huntington Ingalls Industries Stock Down 0.0%

Huntington Ingalls Industries stock opened at $326.01 on Monday. The company has a market capitalization of $12.84 billion, a P/E ratio of 21.21, a P/E/G ratio of 1.38 and a beta of 0.29. The firm's fifty day simple moving average is $383.51 and its 200-day simple moving average is $371.94. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. Huntington Ingalls Industries, Inc. has a 1-year low of $215.04 and a 1-year high of $460.00.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share for the quarter, beating analysts' consensus estimates of $3.70 by $0.09. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. Huntington Ingalls Industries's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.79 EPS. Sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 17.29 earnings per share for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, May 29th. Huntington Ingalls Industries's dividend payout ratio (DPR) is 35.91%.

Huntington Ingalls Industries 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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