BlackRock Inc. Invests $944.88 Million in Huntington Ingalls Industries, Inc. $HII

BlackRock Inc. acquired a new position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,375,888 shares of the aerospace company's stock, valued at approximately $944,877,000. BlackRock Inc. owned about 8.57% of Huntington Ingalls Industries at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Geneos Wealth Management Inc. increased its position in Huntington Ingalls Industries by 40.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company's stock worth $42,000 after purchasing an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake 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 worth $88,000 after purchasing an additional 280 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Huntington Ingalls Industries by 432.1% during the second quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company's stock worth $9,210,000 after buying an additional 30,975 shares in the last quarter. Cresset Asset Management LLC grew its holdings in shares of Huntington Ingalls Industries by 23.0% during 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 in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Huntington Ingalls Industries in the second quarter valued at approximately $398,000. Institutional investors and hedge funds own 90.46% of the company's stock.

Insider Transactions at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, CEO Christopher D. Kastner sold 13,070 shares of Huntington Ingalls Industries stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 11,224 shares of the company's stock, valued at $3,646,902.08. The trade was a 53.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Edmond E. Jr. Hughes sold 3,500 shares of the business's 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 sale, the vice president owned 8,391 shares of the company's stock, valued at approximately $2,681,595.78. This represents a 29.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HII. TD Cowen reduced their price objective on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a research note on Monday, July 13th. Weiss Ratings downgraded Huntington Ingalls Industries from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 17th. Wells Fargo & Company increased their price target on Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 4th. Citigroup raised their price objective on Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Finally, Wall Street Zen downgraded Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $378.88.

Huntington Ingalls Industries Stock Down 0.9%

Shares of HII opened at $298.58 on Friday. Huntington Ingalls Industries, Inc. has a fifty-two week low of $263.62 and a fifty-two week high of $460.00. The company's fifty day moving average is $296.32 and its two-hundred day moving average is $348.75. The firm has a market cap of $11.76 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.12 and a beta of 0.24. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51.

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 analysts' consensus estimates 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 business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the firm posted $3.86 EPS. The business's revenue for the quarter was up 10.9% on a year-over-year basis. Analysts forecast that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a dividend of $1.38 per share. The ex-dividend date is Friday, August 28th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.8%. Huntington Ingalls Industries's payout ratio is presently 32.90%.

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.

Want to see what other hedge funds are holding HII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source