Assetmark Inc. Raises Holdings in Huntington Ingalls Industries, Inc. (NYSE:HII)

Key Points

• Assetmark Inc. increased its stake in Huntington Ingalls Industries by 40.0% during the first quarter, now holding shares worth approximately $2.23 million.
• Huntington Ingalls reported a quarterly earnings per share of $3.79, significantly exceeding analyst expectations of $2.90.
• The company declared a quarterly dividend of $1.35 per share, with an annualized yield of 2.09%, set to be paid on September 12th.

Assetmark Inc. lifted its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 40.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,921 shares of the aerospace company's stock after acquiring an additional 3,119 shares during the quarter. Assetmark Inc.'s holdings in Huntington Ingalls Industries were worth $2,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Huntington Ingalls Industries by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 1,048,482 shares of the aerospace company's stock worth $197,677,000 after purchasing an additional 29,670 shares in the last quarter. Earnest Partners LLC increased its holdings in Huntington Ingalls Industries by 32.6% in the fourth quarter. Earnest Partners LLC now owns 831,965 shares of the aerospace company's stock worth $157,216,000 after purchasing an additional 204,376 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Huntington Ingalls Industries by 15.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 578,488 shares of the aerospace company's stock worth $109,316,000 after purchasing an additional 77,718 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Huntington Ingalls Industries by 27.3% in the first quarter. Diamond Hill Capital Management Inc. now owns 534,737 shares of the aerospace company's stock valued at $109,108,000 after acquiring an additional 114,635 shares during the period. Finally, GAMMA Investing LLC grew its stake in Huntington Ingalls Industries by 75,182.7% in the first quarter. GAMMA Investing LLC now owns 492,349 shares of the aerospace company's stock valued at $1,004,590,000 after acquiring an additional 491,695 shares during the period. 90.46% of the stock is currently owned by institutional investors.

Huntington Ingalls Industries Stock Down 3.4%

Huntington Ingalls Industries stock traded down $9.60 during trading on Friday, hitting $269.26. 763,551 shares of the company were exchanged, compared to its average volume of 655,505. The business's 50 day moving average is $242.23 and its 200 day moving average is $215.51. Huntington Ingalls Industries, Inc. has a 52 week low of $158.88 and a 52 week high of $293.14. The company has a market capitalization of $10.57 billion, a P/E ratio of 19.40, a PEG ratio of 1.59 and a beta of 0.31. The company has a current ratio of 1.07, a quick ratio of 0.99 and a debt-to-equity ratio of 0.57.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The aerospace company reported $3.86 earnings per share for the quarter, beating analysts' consensus estimates of $3.23 by $0.63. Huntington Ingalls Industries had a net margin of 4.76% and a return on equity of 12.26%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the firm earned $4.38 earnings per share. The firm's revenue was up 3.5% on a year-over-year basis. Analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Huntington Ingalls Industries's dividend payout ratio (DPR) is presently 38.90%.

Insider Activity at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, Director Anastasi D. Kelly sold 1,960 shares of the business's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $232.58, for a total value of $455,856.80. Following the transaction, the director owned 17,485 shares of the company's stock, valued at approximately $4,066,661.30. The trade was a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Edmond E. Jr. Hughes sold 1,300 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $231.91, for a total value of $301,483.00. Following the completion of the transaction, the vice president directly owned 9,581 shares in the company, valued at approximately $2,221,929.71. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,225 shares of company stock valued at $1,207,207 over the last ninety days. Corporate insiders own 0.72% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. The Goldman Sachs Group raised their price objective on Huntington Ingalls Industries from $236.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Barclays raised their price objective on Huntington Ingalls Industries from $200.00 to $235.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Alembic Global Advisors raised Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 price objective for the company in a research note on Thursday, May 15th. Finally, TD Cowen raised Huntington Ingalls Industries from a "hold" rating to a "buy" rating and raised their price objective for the company from $250.00 to $300.00 in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Huntington Ingalls Industries has a consensus rating of "Hold" and an average target price of $251.38.

Huntington Ingalls Industries Company 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.