Bank of New York Mellon Corp Has $109.89 Million Stock Holdings in Huntington Ingalls Industries, Inc. $HII

Key Points

• Bank of New York Mellon increased its stake in Huntington Ingalls Industries by 17.3% in the fourth quarter, ending with 323,141 shares worth about $109.9 million.
• HII’s latest quarterly results beat expectations, with EPS of $3.79 and revenue of $3.10 billion, while revenue rose 13.4% year over year.
• Analysts are mixed on the stock: the consensus rating is Hold with an average price target of $388.50, even as the shares recently traded at $292.97 and an insider sold stock in late May.

Bank of New York Mellon Corp raised its position in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 17.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 323,141 shares of the aerospace company's stock after buying an additional 47,591 shares during the period. Bank of New York Mellon Corp owned about 0.82% of Huntington Ingalls Industries worth $109,890,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new position in Huntington Ingalls Industries in the second quarter valued at about $25,000. Rakuten Securities Inc. lifted its position in Huntington Ingalls Industries by 140.0% during the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 63 shares during the period. NBC Securities Inc. boosted its stake in shares of Huntington Ingalls Industries by 87.2% in the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company's stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Huntington Ingalls Industries by 363.3% in the 2nd quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company's stock valued at $33,000 after purchasing an additional 109 shares during the last quarter. Finally, Community Bank N.A. acquired a new stake in shares of Huntington Ingalls Industries during the 3rd quarter worth approximately $35,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HII has been the subject of a number of analyst reports. Sanford C. Bernstein restated a "market perform" rating and set a $421.00 price objective on shares of Huntington Ingalls Industries in a report on Wednesday, February 11th. Weiss Ratings lowered shares of Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Wall Street Zen cut shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Bank of America upgraded Huntington Ingalls Industries from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $300.00 to $400.00 in a report on Thursday, February 12th. Finally, TD Cowen lowered their target price on Huntington Ingalls Industries from $460.00 to $420.00 and set a "buy" rating for the company in a report on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $388.50.

Huntington Ingalls Industries Stock Performance

HII opened at $292.97 on Monday. The business's 50-day simple moving average is $352.10 and its 200 day simple moving average is $371.79. Huntington Ingalls Industries, Inc. has a 52-week low of $215.04 and a 52-week high of $460.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.19. The firm has a market capitalization of $11.54 billion, a PE ratio of 19.06, a PEG ratio of 1.24 and a beta of 0.23.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.70 by $0.09. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the firm posted $3.79 earnings per share. The company's quarterly revenue was up 13.4% compared to the same quarter last year. As a group, sell-side analysts expect that Huntington Ingalls Industries, Inc. will post 17.32 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Friday, May 29th. Huntington Ingalls Industries's dividend payout ratio (DPR) is currently 35.91%.

Insider Activity

In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of Huntington Ingalls Industries stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $319.58, for a total transaction of $1,118,530.00. Following the completion of the sale, the vice president directly owned 8,391 shares of the company's stock, valued at approximately $2,681,595.78. This trade represents a 29.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

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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