Bank of New York Mellon Corp Sells 77,961 Shares of Huntington Ingalls Industries, Inc. (NYSE:HII)

Bank of New York Mellon Corp trimmed its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 18.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 345,483 shares of the aerospace company's stock after selling 77,961 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.88% of Huntington Ingalls Industries worth $70,492,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HII. Victory Capital Management Inc. lifted its stake in Huntington Ingalls Industries by 1.8% in the fourth quarter. Victory Capital Management Inc. now owns 30,290 shares of the aerospace company's stock valued at $5,724,000 after buying an additional 542 shares during the period. Proficio Capital Partners LLC acquired a new position in Huntington Ingalls Industries in the fourth quarter valued at approximately $11,249,000. Raymond James Financial Inc. acquired a new position in Huntington Ingalls Industries in the fourth quarter valued at approximately $27,881,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Huntington Ingalls Industries by 6.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,561 shares of the aerospace company's stock valued at $4,452,000 after buying an additional 1,381 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Huntington Ingalls Industries by 8.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,208 shares of the aerospace company's stock valued at $984,000 after buying an additional 392 shares during the period. 90.46% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Chad N. Boudreaux sold 1,965 shares of Huntington Ingalls Industries stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $228.94, for a total value of $449,867.10. Following the completion of the sale, the vice president owned 21,228 shares of the company's stock, valued at $4,859,938.32. The trade was a 8.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Anastasi D. Kelly sold 1,960 shares of Huntington Ingalls Industries 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 completion of the sale, the director directly owned 17,485 shares of the company's stock, valued at $4,066,661.30. The trade was a 10.08% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,225 shares of company stock valued at $1,207,207. Corporate insiders own 0.72% of the company's stock.

Huntington Ingalls Industries Stock Down 1.8%

Shares of HII traded down $4.60 on Tuesday, reaching $253.90. The stock had a trading volume of 328,594 shares, compared to its average volume of 561,398. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.59 and a beta of 0.31. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.07. The company has a 50-day simple moving average of $233.56 and a 200-day simple moving average of $208.99. Huntington Ingalls Industries, Inc. has a 12-month low of $158.88 and a 12-month high of $285.81.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its earnings results on Thursday, May 1st. The aerospace company reported $3.79 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $0.89. The company had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.80 billion. Huntington Ingalls Industries had a return on equity of 12.26% and a net margin of 4.76%. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.87 EPS. Sell-side analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, May 30th. Huntington Ingalls Industries's payout ratio is 38.90%.

Wall Street Analysts Forecast Growth

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

Huntington Ingalls Industries 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.