Carnegie Investment Counsel Has $14.98 Million Stock Position in Huntington Ingalls Industries, Inc. $HII

Key Points

• Carnegie Investment Counsel cut its stake in Huntington Ingalls Industries by 23.2% in the first quarter, selling 11,896 shares and leaving it with 39,434 shares valued at about $14.98 million.
• The company reported solid quarterly results, with earnings per share of $3.79 and revenue of $3.10 billion, both ahead of analyst expectations, while revenue rose 13.4% year over year.
• HII also paid a $1.38 quarterly dividend and currently has a Hold consensus rating from analysts, with an average price target of $381.50.

Carnegie Investment Counsel reduced its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 23.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,434 shares of the aerospace company's stock after selling 11,896 shares during the period. Carnegie Investment Counsel owned 0.10% of Huntington Ingalls Industries worth $14,981,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Citizens Financial Group Inc. RI lifted its position in Huntington Ingalls Industries by 167.3% during the 1st quarter. Citizens Financial Group Inc. RI now owns 21,446 shares of the aerospace company's stock worth $8,147,000 after acquiring an additional 13,422 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Huntington Ingalls Industries by 81.0% in the first quarter. Fifth Third Bancorp now owns 16,371 shares of the aerospace company's stock valued at $6,219,000 after purchasing an additional 7,327 shares during the last quarter. Markel Group Inc. increased its stake in shares of Huntington Ingalls Industries by 7.8% in the first quarter. Markel Group Inc. now owns 27,500 shares of the aerospace company's stock worth $10,447,000 after purchasing an additional 2,000 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Huntington Ingalls Industries by 54.1% in the first quarter. Sequoia Financial Advisors LLC now owns 12,844 shares of the aerospace company's stock worth $4,880,000 after purchasing an additional 4,510 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of Huntington Ingalls Industries by 9.8% during the 1st quarter. Hsbc Holdings PLC now owns 53,393 shares of the aerospace company's stock worth $20,246,000 after purchasing an additional 4,787 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction on 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 completion of the transaction, the vice president owned 8,391 shares in the company, valued at approximately $2,681,595.78. This represents a 29.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company's stock.

Huntington Ingalls Industries Stock Performance

Huntington Ingalls Industries stock traded down $0.18 during trading hours on Friday, hitting $286.03. The stock had a trading volume of 235,803 shares, compared to its average volume of 453,244. The company has a 50-day moving average of $303.20 and a two-hundred day moving average of $366.53. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 0.52. Huntington Ingalls Industries, Inc. has a fifty-two week low of $250.91 and a fifty-two week high of $460.00. The company has a market cap of $11.27 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.22 and a beta of 0.25.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share for the quarter, topping the consensus estimate of $3.70 by $0.09. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.Huntington Ingalls Industries's revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.79 EPS. On average, equities research analysts anticipate that Huntington Ingalls Industries, Inc. will post 17.31 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, May 29th. Huntington Ingalls Industries's payout ratio is 35.91%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company began coverage on Huntington Ingalls Industries in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 target price on the stock. Weiss Ratings lowered Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Wall Street Zen cut Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. TD Cowen cut their target price on shares of Huntington Ingalls Industries from $460.00 to $420.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. Finally, Citigroup decreased their price target on shares of Huntington Ingalls Industries from $405.00 to $349.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Huntington Ingalls Industries presently has a consensus rating of "Hold" and an average price target of $381.50.

Huntington Ingalls Industries 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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