Allspring Global Investments Holdings LLC Sells 9,655 Shares of Huntington Ingalls Industries, Inc. (NYSE:HII)

Allspring Global Investments Holdings LLC lessened its stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 83.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,928 shares of the aerospace company's stock after selling 9,655 shares during the period. Allspring Global Investments Holdings LLC's holdings in Huntington Ingalls Industries were worth $390,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Sentry Investment Management LLC bought a new stake in shares of Huntington Ingalls Industries during the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC grew its position in shares of Huntington Ingalls Industries by 503.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 157 shares of the aerospace company's stock valued at $30,000 after acquiring an additional 131 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Huntington Ingalls Industries during the 4th quarter valued at $36,000. Grove Bank & Trust bought a new stake in shares of Huntington Ingalls Industries during the 1st quarter valued at $61,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Huntington Ingalls Industries during the 4th quarter valued at $70,000. Institutional investors own 90.46% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HII. The Goldman Sachs Group boosted their price objective on shares of Huntington Ingalls Industries from $236.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Alembic Global Advisors raised shares of Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 target price for the company in a report on Thursday, May 15th. TD Cowen raised shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating and upped their target price for the stock from $250.00 to $300.00 in a report on Thursday. Finally, Barclays upped their target price on shares of Huntington Ingalls Industries from $200.00 to $235.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Huntington Ingalls Industries has an average rating of "Hold" and a consensus target price of $251.38.

Insider Activity

In other news, Director Anastasi D. Kelly sold 1,960 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $232.58, for a total transaction of $455,856.80. Following the sale, the director directly owned 17,485 shares in the company, valued at approximately $4,066,661.30. This represents a 10.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Edmond E. Jr. Hughes sold 1,300 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $231.91, for a total transaction of $301,483.00. Following the sale, the vice president owned 9,581 shares in the company, valued at $2,221,929.71. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,225 shares of company stock worth $1,207,207. 0.86% of the stock is currently owned by corporate insiders.

Huntington Ingalls Industries Price Performance

HII stock traded up $0.15 during mid-day trading on Friday, hitting $258.26. The company had a trading volume of 367,270 shares, compared to its average volume of 563,035. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.59 and a beta of 0.31. Huntington Ingalls Industries, Inc. has a 12-month low of $158.88 and a 12-month high of $285.81. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $233.56 and a 200 day moving average price of $208.99.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its earnings results on Thursday, May 1st. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.89. The firm had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.80 billion. Huntington Ingalls Industries had a net margin of 4.76% and a return on equity of 12.26%. The business's revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.87 EPS. On average, research analysts anticipate that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current year.

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, May 30th. Huntington Ingalls Industries's dividend payout ratio is 38.90%.

Huntington Ingalls Industries 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.