Bank of Nova Scotia Has $12.31 Million Stake in Huntington Ingalls Industries, Inc. $HII

Bank of Nova Scotia boosted its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 57.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,978 shares of the aerospace company's stock after buying an additional 15,995 shares during the period. Bank of Nova Scotia owned approximately 0.11% of Huntington Ingalls Industries worth $12,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Geneos Wealth Management Inc. grew its holdings in shares of Huntington Ingalls Industries by 40.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company's stock valued at $42,000 after acquiring an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Huntington Ingalls Industries by 329.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company's stock valued at $88,000 after buying an additional 280 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Huntington Ingalls Industries by 432.1% in the 2nd quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company's stock valued at $9,210,000 after buying an additional 30,975 shares in the last quarter. Cresset Asset Management LLC increased its holdings in Huntington Ingalls Industries by 23.0% in the second quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company's stock worth $381,000 after buying an additional 294 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in Huntington Ingalls Industries in the second quarter worth approximately $398,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Huntington Ingalls Industries

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher D. Kastner sold 13,070 shares of Huntington Ingalls Industries stock in a transaction on Monday, August 10th. The stock was sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the sale, the chief executive officer directly owned 11,224 shares of the company's stock, valued at $3,646,902.08. This represents a 53.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.80% of the company's stock.

Huntington Ingalls Industries Stock Performance

HII stock opened at $294.52 on Tuesday. The company has a 50 day moving average price of $296.22 and a 200 day moving average price of $347.30. Huntington Ingalls Industries, Inc. has a fifty-two week low of $263.62 and a fifty-two week high of $460.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.23 and a quick ratio of 1.14. The stock has a market capitalization of $11.60 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 1.12 and a beta of 0.24.

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

Huntington Ingalls Industries Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have commented on HII shares. Wall Street Zen downgraded shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Citigroup boosted their price target on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a report on Friday, July 31st. TD Cowen reduced their price target on shares of 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. Wells Fargo & Company boosted their target price 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. Finally, Weiss Ratings lowered Huntington Ingalls Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $378.88.

Huntington Ingalls Industries Company 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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