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

Bank of New York Mellon Corp lessened its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Huntington Ingalls Industries by 2.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,124 shares of the aerospace company's stock valued at $433,000 after purchasing an additional 51 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Huntington Ingalls Industries by 12.2% during the first quarter. Farther Finance Advisors LLC now owns 514 shares of the aerospace company's stock valued at $104,000 after purchasing an additional 56 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Huntington Ingalls Industries by 8.6% during the first quarter. Capital Advisors Ltd. LLC now owns 820 shares of the aerospace company's stock valued at $167,000 after purchasing an additional 65 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Huntington Ingalls Industries by 0.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 11,930 shares of the aerospace company's stock valued at $2,254,000 after purchasing an additional 66 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in shares of Huntington Ingalls Industries by 21.5% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 379 shares of the aerospace company's stock valued at $78,000 after purchasing an additional 67 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Huntington Ingalls Industries Price Performance

Shares of HII traded up $0.15 on Friday, hitting $258.26. The company's stock had a trading volume of 367,270 shares, compared to its average volume of 561,698. The company has a market capitalization of $10.13 billion, a PE ratio of 18.61, a PEG ratio of 1.59 and a beta of 0.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.07 and a quick ratio of 0.99. Huntington Ingalls Industries, Inc. has a fifty-two week low of $158.88 and a fifty-two week high of $285.81. The company has a 50 day moving average price of $233.56 and a 200 day moving average price of $208.76.

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

Huntington Ingalls Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $5.40 dividend on an annualized basis and a yield of 2.09%. Huntington Ingalls Industries's payout ratio is 38.90%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Alembic Global Advisors upgraded shares of 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. The Goldman Sachs Group boosted their price target on shares of Huntington Ingalls Industries from $236.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Barclays boosted their price target on shares of Huntington Ingalls Industries from $200.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, TD Cowen raised Huntington Ingalls Industries from a "hold" rating to a "buy" rating and lifted their price target for the stock from $250.00 to $300.00 in a research note on Thursday. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $251.38.

Insider Buying and Selling

In other news, VP Edmond E. Jr. Hughes sold 1,300 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $231.91, for a total transaction of $301,483.00. Following the completion of the sale, the vice president owned 9,581 shares of the company's stock, valued at $2,221,929.71. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anastasi D. Kelly sold 1,960 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $232.58, for a total transaction of $455,856.80. Following the completion of the sale, the director directly owned 17,485 shares in the company, valued at $4,066,661.30. This represents a 10.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,225 shares of company stock worth $1,207,207 over the last three months. 0.72% of the stock is currently owned by company insiders.

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.