Algert Global LLC Boosts Holdings in Huntington Ingalls Industries, Inc. $HII

Key Points

• Algert Global increased its Huntington Ingalls Industries stake by 50.1% in the second quarter, acquiring 20,260 additional shares and bringing its holdings to 60,710 shares valued at approximately $17 million. Institutional investors collectively own 90.46% of HII.
• Analyst sentiment remains moderately positive, with five Buy and five Hold ratings and an average price target of $378.88. HII also exceeded quarterly expectations, reporting $5.27 in EPS and $3.42 billion in revenue, with revenue up 10.9% year over year.
• HII shares opened at $294.52 after declining 1.2%; the company announced a quarterly dividend of $1.38 per share, equivalent to a 1.9% annual yield. Meanwhile, the CEO and a vice president reported sizable stock sales, while insiders own just 0.80% of the company.

Algert Global LLC grew its stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 50.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,710 shares of the aerospace company's stock after purchasing an additional 20,260 shares during the quarter. Algert Global LLC owned approximately 0.15% of Huntington Ingalls Industries worth $16,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of HII. CYBER HORNET ETFs LLC purchased a new stake in Huntington Ingalls Industries during the 2nd quarter worth approximately $25,000. Rakuten Securities Inc. lifted its position in shares of Huntington Ingalls Industries by 140.0% in the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 63 shares in the last quarter. Bayban purchased a new position in shares of Huntington Ingalls Industries in the first quarter valued at approximately $27,000. NBC Securities Inc. boosted its stake in shares of Huntington Ingalls Industries by 87.2% in the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company's stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Huntington Ingalls Industries by 363.3% in the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company's stock worth $33,000 after acquiring an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HII. Weiss Ratings downgraded Huntington Ingalls Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Citigroup upped their target price on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Wells Fargo & Company raised their price target on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 4th. Wall Street Zen lowered shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Finally, TD Cowen cut their price objective on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating for the company in a report on Monday, July 13th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $378.88.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $319.58, for a total transaction of $1,118,530.00. Following the completion of the transaction, the vice president directly owned 8,391 shares in the company, valued at approximately $2,681,595.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher D. Kastner sold 13,070 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $324.92, for a total value of $4,246,704.40. Following the sale, the chief executive officer directly owned 11,224 shares of the company's stock, valued at $3,646,902.08. The trade was a 53.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by company insiders.

Huntington Ingalls Industries Trading Down 1.2%

Shares of HII opened at $294.52 on Tuesday. Huntington Ingalls Industries, Inc. has a 12-month low of $263.62 and a 12-month high of $460.00. The firm has a market capitalization of $11.60 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.12 and a beta of 0.24. The firm has a 50-day moving average price of $296.22 and a 200 day moving average price of $347.30. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.51.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last issued its earnings results on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, topping analysts' consensus estimates of $3.79 by $1.48. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. Huntington Ingalls Industries's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.86 earnings per share. Sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 18.47 EPS for the current year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $1.38 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $5.52 annualized dividend and a yield of 1.9%. Huntington Ingalls Industries's dividend payout ratio (DPR) is 32.90%.

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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