Bank of New York Mellon Corp Buys Shares of 268,298 Huntington Ingalls Industries, Inc. $HII

Key Points

• Bank of New York Mellon acquired 268,298 shares of Huntington Ingalls Industries worth approximately $75.1 million, giving it a 0.68% stake. Institutional investors collectively own 90.46% of HII.
• HII reported quarterly EPS of $5.27, beating estimates of $3.79, while revenue rose 10.9% year over year to $3.42 billion. Analysts expect full-year EPS of $18.47.
• The company declared a quarterly dividend of $1.38, equivalent to $5.52 annually and a 1.9% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $368.88, versus a share price of $291.31.

Bank of New York Mellon Corp bought a new stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 268,298 shares of the aerospace company's stock, valued at approximately $75,094,000. Bank of New York Mellon Corp owned 0.68% of Huntington Ingalls Industries as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bayban bought a new stake in shares of Huntington Ingalls Industries in the first quarter valued at $27,000. NBC Securities Inc. increased 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 purchasing an additional 41 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in Huntington Ingalls Industries during the 1st quarter valued at $36,000. CYBER HORNET ETFs LLC purchased a new stake in Huntington Ingalls Industries during the 2nd quarter worth about $25,000. Finally, Rakuten Securities Inc. boosted its stake in Huntington Ingalls Industries by 140.0% in the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock worth $26,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 90.46% of the company's stock.

Huntington Ingalls Industries Stock Performance

Huntington Ingalls Industries stock opened at $291.31 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $11.48 billion, a PE ratio of 17.36, a P/E/G ratio of 1.11 and a beta of 0.24. The firm has a fifty day simple moving average of $296.07 and a two-hundred day simple moving average of $346.44. Huntington Ingalls Industries, Inc. has a twelve month low of $263.62 and a twelve month high of $460.00.

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

Huntington Ingalls Industries Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wall Street Zen downgraded Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Weiss Ratings cut Huntington Ingalls Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. TD Cowen lowered their price target on Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Citigroup lifted their price target on Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Wells Fargo & Company upped their price objective on Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $368.88.

Insider Buying and Selling

In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of Huntington Ingalls Industries stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $319.58, for a total value of $1,118,530.00. Following the transaction, the vice president directly owned 8,391 shares of the company's stock, valued at $2,681,595.78. The trade was a 29.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher D. Kastner sold 13,070 shares of the company's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the sale, the chief executive officer owned 11,224 shares of the company's stock, valued at $3,646,902.08. This represents a 53.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by insiders.

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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