Cibc World Market Inc. Reduces Stock Position in Huntington Ingalls Industries, Inc. $HII

Key Points

• Cibc World Market Inc. reduced its Huntington Ingalls Industries stake by 30.8% in the second quarter, selling 3,929 shares and retaining 8,815 shares valued at approximately $2.47 million. Institutional investors collectively own 90.46% of HII.
• HII reported strong quarterly results, with earnings per share of $5.27 beating estimates of $3.79 and revenue of $3.42 billion exceeding forecasts. Revenue increased 10.9% year over year.
• The company declared a quarterly dividend of $1.38, equivalent to $5.52 annually and a 1.9% yield, while analysts maintained a “Moderate Buy” consensus with an average price target of $368.88.

Cibc World Market Inc. cut its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 30.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,815 shares of the aerospace company's stock after selling 3,929 shares during the quarter. Cibc World Market Inc.'s holdings in Huntington Ingalls Industries were worth $2,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HII. CYBER HORNET ETFs LLC purchased a new stake in Huntington Ingalls Industries in the 2nd quarter worth approximately $25,000. Rakuten Securities Inc. increased its stake in shares of Huntington Ingalls Industries by 140.0% during the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock valued at $26,000 after buying an additional 63 shares during the period. Bayban bought a new position in shares of Huntington Ingalls Industries during the first quarter valued at approximately $27,000. NBC Securities Inc. raised its holdings in shares of Huntington Ingalls Industries by 87.2% during the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company's stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Huntington Ingalls Industries by 363.3% in the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company's stock worth $33,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 90.46% of the company's stock.

Huntington Ingalls Industries Trading Up 1.8%

NYSE:HII opened at $296.44 on Thursday. The stock has a market cap of $11.68 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.10 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. The company's 50 day moving average price is $296.07 and its 200-day moving average price is $345.93. Huntington Ingalls Industries, Inc. has a 52 week low of $263.62 and a 52 week high of $460.00.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the prior year, the company posted $3.86 earnings per share. The company's quarterly revenue was up 10.9% on a year-over-year basis. On average, equities research analysts forecast that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

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

Insider Activity

In other Huntington Ingalls Industries news, CEO Christopher D. Kastner sold 13,070 shares of the company's 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 completion of the sale, the chief executive officer directly owned 11,224 shares of the company's stock, valued at approximately $3,646,902.08. This represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on HII. Citigroup lifted 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. Wolfe Research raised shares of Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 target price for the company in a research report on Friday, July 31st. Sanford C. Bernstein set a $341.00 target price on shares of Huntington Ingalls Industries in a research note on Tuesday. Wells Fargo & Company boosted their price target on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 4th. Finally, TD Cowen decreased their price target on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Huntington Ingalls Industries has an average rating of "Moderate Buy" and a consensus price target of $368.88.

About Huntington Ingalls Industries

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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