Arbejdsmarkedets Tillaegspension Makes New $23.94 Million Investment in Huntington Ingalls Industries, Inc. $HII

Key Points

• Arbejdsmarkedets Tillaegspension disclosed a new first-quarter stake in Huntington Ingalls Industries, buying 63,014 shares worth about $23.94 million. The position represented roughly 0.16% of the company.
• HII reported better-than-expected quarterly results, with EPS of $3.79 versus estimates of $3.70 and revenue of $3.10 billion versus $3.02 billion expected. Revenue rose 13.4% year over year.
• Analyst sentiment remains mixed but cautious: the stock has a Hold consensus rating with an average price target of $374, while several firms recently trimmed their targets. HII also paid a quarterly dividend of $1.38 per share, or a 1.9% annualized yield.

Arbejdsmarkedets Tillaegspension purchased a new stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 63,014 shares of the aerospace company's stock, valued at approximately $23,939,000. Arbejdsmarkedets Tillaegspension owned about 0.16% of Huntington Ingalls Industries at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its holdings in shares of 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 buying an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Huntington Ingalls Industries by 329.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company's stock worth $88,000 after acquiring an additional 280 shares during the last quarter. Marshall Wace LLP raised its position in shares of Huntington Ingalls Industries by 432.1% during the second quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company's stock worth $9,210,000 after purchasing an additional 30,975 shares during the period. Cresset Asset Management LLC lifted its holdings in shares of Huntington Ingalls Industries by 23.0% during the second quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company's stock valued at $381,000 after purchasing an additional 294 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Huntington Ingalls Industries in the 2nd quarter valued at $398,000. Institutional investors own 90.46% of the company's stock.

Insider Buying and Selling

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $319.58, for a total transaction of $1,118,530.00. Following the transaction, the vice president owned 8,391 shares in the company, valued at $2,681,595.78. This represents a 29.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is owned by corporate insiders.

Huntington Ingalls Industries Price Performance

Shares of NYSE:HII opened at $284.79 on Tuesday. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 1.22 and a beta of 0.25. Huntington Ingalls Industries, Inc. has a 1 year low of $250.91 and a 1 year high of $460.00. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $301.62 and a 200 day simple moving average of $366.13.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last issued its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 EPS for the quarter, beating analysts' consensus estimates of $3.70 by $0.09. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the previous year, the company posted $3.79 earnings per share. The business's quarterly revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Huntington Ingalls Industries, Inc. will post 17.31 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Huntington Ingalls Industries's payout ratio is currently 35.91%.

Analyst Upgrades and Downgrades

A number of research firms have commented on HII. Citigroup reduced their price objective on shares of Huntington Ingalls Industries from $405.00 to $349.00 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Wall Street Zen lowered shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a report on Monday, May 18th. TD Cowen reduced their price target on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating for the company in a research report on Monday. Wells Fargo & Company started coverage on shares of Huntington Ingalls Industries in a research note on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 price objective for the company. Finally, 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. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $374.00.

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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