CCM Investment Group LLC Invests $407,000 in Huntington Ingalls Industries, Inc. (NYSE:HII)

Key Points

• CCM Investment Group LLC acquired 1,984 shares of Huntington Ingalls Industries, valued at approximately $407,000, during the first quarter, highlighting increased interest in the aerospace sector.
• Huntington Ingalls Industries reported earnings of $3.86 per share, surpassing analysts' expectations, and declared a quarterly dividend of $1.35 to be paid in September.
• Analysts have raised their price targets for Huntington Ingalls Industries, with Goldman Sachs setting a new target of $265 and TD Cowen upgrading it to a "buy" rating.

CCM Investment Group LLC bought a new stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,984 shares of the aerospace company's stock, valued at approximately $407,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HII. Teacher Retirement System of Texas acquired a new position in shares of Huntington Ingalls Industries in the first quarter worth $1,324,000. GAMMA Investing LLC grew its stake in shares of Huntington Ingalls Industries by 269.0% in the first quarter. GAMMA Investing LLC now owns 2,413 shares of the aerospace company's stock worth $492,000 after acquiring an additional 1,759 shares in the last quarter. Eisler Capital Management Ltd. acquired a new position in shares of Huntington Ingalls Industries in the fourth quarter worth $5,679,000. Sowell Financial Services LLC acquired a new position in shares of Huntington Ingalls Industries in the first quarter worth $247,000. Finally, Ninety One UK Ltd acquired a new position in shares of Huntington Ingalls Industries in the first quarter worth $14,924,000. Hedge funds and other institutional investors own 90.46% of the company's stock.

Huntington Ingalls Industries Stock Down 0.3%

NYSE:HII traded down $0.89 during trading hours on Friday, hitting $266.58. The company's stock had a trading volume of 105,565 shares, compared to its average volume of 637,621. The stock has a market capitalization of $10.46 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.63 and a beta of 0.33. The stock has a fifty day moving average of $250.71 and a 200-day moving average of $219.99. The company has a current ratio of 1.08, a quick ratio of 1.00 and a debt-to-equity ratio of 0.55. Huntington Ingalls Industries, Inc. has a 52-week low of $158.88 and a 52-week high of $293.14.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The aerospace company reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.63. Huntington Ingalls Industries had a net margin of 4.54% and a return on equity of 11.34%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the firm posted $4.38 earnings per share. Huntington Ingalls Industries's revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current year.

Huntington Ingalls Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, August 29th. Huntington Ingalls Industries's dividend payout ratio is currently 40.42%.

Insider Transactions at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Chad N. Boudreaux sold 1,965 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $228.94, for a total value of $449,867.10. Following the completion of the transaction, the vice president owned 21,228 shares in the company, valued at $4,859,938.32. This represents a 8.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on HII shares. 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 note on Friday, May 2nd. TD Cowen upgraded shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating and boosted their price target for the stock from $250.00 to $300.00 in a research note on Thursday, July 10th. Alembic Global Advisors upgraded shares of Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 price target for the company in a research note on Thursday, May 15th. Barclays boosted their price target on shares of Huntington Ingalls Industries from $235.00 to $295.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Finally, Bank of America increased their target price on Huntington Ingalls Industries from $180.00 to $260.00 and gave the company an "underperform" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $267.00.

Huntington Ingalls Industries Company 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.