CIBC Asset Management Inc Raises Stake in Huntington Ingalls Industries, Inc. $HII

Key Points

• CIBC Asset Management boosted its stake in Huntington Ingalls Industries by 76.4% in the fourth quarter, ending with 8,736 shares valued at about $2.97 million.
• Institutional ownership in HII remains very high at 90.46%, with several other major funds also increasing their holdings during recent quarters.
• The company beat quarterly earnings expectations, reporting $3.79 EPS on $3.10 billion in revenue, and it also announced a $1.38 quarterly dividend payable June 12.

CIBC Asset Management Inc lifted its position in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 76.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,736 shares of the aerospace company's stock after acquiring an additional 3,784 shares during the quarter. CIBC Asset Management Inc's holdings in Huntington Ingalls Industries were worth $2,971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Huntington Ingalls Industries by 38,526.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company's stock valued at $675,572,000 after acquiring an additional 1,981,424 shares in the last quarter. Geode Capital Management LLC raised its holdings in Huntington Ingalls Industries by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,116,501 shares of the aerospace company's stock worth $379,098,000 after purchasing an additional 56,618 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Huntington Ingalls Industries by 5.9% in the third quarter. Dimensional Fund Advisors LP now owns 966,622 shares of the aerospace company's stock worth $278,272,000 after purchasing an additional 54,139 shares in the last quarter. Earnest Partners LLC raised its holdings in Huntington Ingalls Industries by 0.7% in the third quarter. Earnest Partners LLC now owns 901,140 shares of the aerospace company's stock worth $259,447,000 after purchasing an additional 6,046 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Huntington Ingalls Industries by 12.9% in the third quarter. First Trust Advisors LP now owns 670,268 shares of the aerospace company's stock worth $192,977,000 after purchasing an additional 76,512 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on HII shares. Bank of America upgraded shares of Huntington Ingalls Industries from an "underperform" rating to a "neutral" rating and boosted their target price for the stock from $300.00 to $400.00 in a report on Thursday, February 12th. Sanford C. Bernstein reiterated a "market perform" rating and issued a $421.00 target price on shares of Huntington Ingalls Industries in a report on Wednesday, February 11th. Citigroup reduced their target price on shares of Huntington Ingalls Industries from $441.00 to $405.00 and set a "buy" rating for the company in a report on Monday, May 18th. TD Cowen reduced 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 report on Thursday, May 14th. Finally, Wells Fargo & Company started coverage on shares of Huntington Ingalls Industries in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 target price for the company. Four analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $388.50.

Insider Buying and Selling

In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of the company'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 value of $1,118,530.00. Following the sale, the vice president owned 8,391 shares in the company, valued at $2,681,595.78. This represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is currently owned by corporate insiders.

Huntington Ingalls Industries Stock Performance

HII opened at $292.97 on Monday. Huntington Ingalls Industries, Inc. has a 52-week low of $215.04 and a 52-week high of $460.00. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 0.52. The company has a market cap of $11.54 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 1.24 and a beta of 0.23. The firm's 50-day moving average price is $352.10 and its 200-day moving average price is $371.79.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.09. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the company posted $3.79 earnings per share. The company's revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, equities analysts anticipate that Huntington Ingalls Industries, Inc. will post 17.32 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a $1.38 dividend. The ex-dividend date is Friday, May 29th. This represents a $5.52 dividend on an annualized basis and a yield of 1.9%. Huntington Ingalls Industries's dividend payout ratio is currently 35.91%.

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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