Assetmark Inc. Buys 4,781 Shares of Huntington Ingalls Industries, Inc. $HII

Key Points

• Assetmark Inc. raised its stake in Huntington Ingalls by 16.1%, acquiring 4,781 shares to own 34,470 shares worth about $11.72 million (roughly 0.09% of the company).
• Huntington Ingalls beat expectations with quarterly EPS of $4.04 vs. $3.72 and revenue of $3.48 billion vs. $3.09 billion, a 15.7% year‑over‑year revenue increase; analysts forecast about 13.99 EPS for the year.
• Senior insiders recently sold shares (VP sold 4,400 shares; EVP sold 1,700), while institutional investors hold 90.46% of the stock and insiders own 0.80%.

Assetmark Inc. raised its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,470 shares of the aerospace company's stock after acquiring an additional 4,781 shares during the period. Assetmark Inc. owned approximately 0.09% of Huntington Ingalls Industries worth $11,722,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. CI Investments Inc. boosted its holdings in Huntington Ingalls Industries by 16.7% during the third quarter. CI Investments Inc. now owns 231 shares of the aerospace company's stock worth $67,000 after purchasing an additional 33 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in shares of Huntington Ingalls Industries by 3.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 1,011 shares of the aerospace company's stock worth $291,000 after buying an additional 38 shares during the last quarter. 1834 Investment Advisors Co. increased its position in Huntington Ingalls Industries by 1.6% during the third quarter. 1834 Investment Advisors Co. now owns 2,535 shares of the aerospace company's stock worth $730,000 after acquiring an additional 39 shares during the period. O Keefe Stevens Advisory Inc. increased its position in Huntington Ingalls Industries by 0.7% during the third quarter. O Keefe Stevens Advisory Inc. now owns 5,758 shares of the aerospace company's stock worth $1,658,000 after acquiring an additional 40 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its holdings in Huntington Ingalls Industries by 10.1% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 438 shares of the aerospace company's stock valued at $122,000 after buying an additional 40 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Stock Down 0.4%

HII stock opened at $396.35 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The company's 50 day moving average is $412.93 and its 200 day moving average is $362.59. The stock has a market cap of $15.55 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 1.62 and a beta of 0.36. Huntington Ingalls Industries, Inc. has a 1-year low of $211.49 and a 1-year high of $460.00.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its earnings results on Thursday, February 5th. The aerospace company reported $4.04 EPS for the quarter, beating the consensus estimate of $3.72 by $0.32. Huntington Ingalls Industries had a net margin of 4.85% and a return on equity of 12.28%. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the firm earned $3.15 EPS. The firm's quarterly revenue was up 15.7% compared to the same quarter last year. Sell-side analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $1.38 dividend. The ex-dividend date was Friday, February 27th. This represents a $5.52 annualized dividend and a yield of 1.4%. Huntington Ingalls Industries's payout ratio is 35.91%.

Insider Buying and Selling at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Chad N. Boudreaux sold 4,400 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $422.45, for a total value of $1,858,780.00. Following the completion of the transaction, the vice president owned 20,360 shares of the company's stock, valued at approximately $8,601,082. The trade was a 17.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eric D. Chewning sold 1,700 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total value of $736,848.00. Following the completion of the transaction, the executive vice president directly owned 1,949 shares of the company's stock, valued at approximately $844,774.56. This trade represents a 46.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HII. Bank of America raised shares of Huntington Ingalls Industries from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $300.00 to $400.00 in a report on Thursday, February 12th. Melius Research upgraded shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a research note on Monday, January 5th. The Goldman Sachs Group lifted their price objective 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. TD Cowen boosted their price target on shares of Huntington Ingalls Industries from $440.00 to $460.00 and gave the company a "buy" rating in a research note on Friday, March 6th. Finally, Wall Street Zen lowered shares of Huntington Ingalls Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 11th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $383.22.

About Huntington Ingalls Industries

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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