Corient Private Wealth LP Acquires 10,014 Shares of Huntington Ingalls Industries, Inc. $HII

Key Points

• Corient Private Wealth increased its Huntington Ingalls Industries stake by 60.4% in the second quarter, purchasing 10,014 additional shares and bringing its holdings to 26,596 shares valued at approximately $7.44 million.
• HII reported strong quarterly results, with earnings of $5.27 per share and revenue of $3.42 billion, surpassing analyst estimates and representing 10.9% year-over-year revenue growth.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $368.88, while the company declared a quarterly dividend of $1.38 per share, implying a 1.9% annualized yield.

Corient Private Wealth LP raised its stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 60.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,596 shares of the aerospace company's stock after purchasing an additional 10,014 shares during the period. Corient Private Wealth LP owned 0.07% of Huntington Ingalls Industries worth $7,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the business. CYBER HORNET ETFs LLC acquired a new stake in shares of Huntington Ingalls Industries during the second quarter worth $25,000. Rakuten Securities Inc. grew its holdings in Huntington Ingalls Industries by 140.0% during the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock worth $26,000 after acquiring an additional 63 shares during the period. Bayban purchased a new position in shares of Huntington Ingalls Industries during the 1st quarter valued at approximately $27,000. Smartleaf Asset Management LLC increased its holdings 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 valued at $33,000 after buying an additional 109 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC purchased a new position in shares of Huntington Ingalls Industries in the 1st quarter valued at about $36,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HII. Citigroup increased their target price on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a research report on Friday, July 31st. TD Cowen reduced their target price on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, July 13th. Weiss Ratings downgraded shares of Huntington Ingalls Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Wall Street Zen cut shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a report on Monday, May 18th. Finally, Wolfe Research raised shares of Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 price objective on the stock in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Huntington Ingalls Industries currently has a consensus rating of "Moderate Buy" and a consensus price target of $368.88.

Huntington Ingalls Industries Price Performance

Shares of NYSE HII opened at $294.09 on Monday. The stock has a market cap of $11.59 billion, a P/E ratio of 17.53, a P/E/G ratio of 1.11 and a beta of 0.24. The stock has a 50 day moving average of $296.49 and a two-hundred day moving average of $344.43. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.51. Huntington Ingalls Industries, Inc. has a twelve month low of $263.62 and a twelve month high of $460.00.

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

Huntington Ingalls Industries Announces Dividend

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

Insider Activity

In related news, CEO Christopher D. Kastner sold 13,070 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $324.92, for a total value of $4,246,704.40. Following the completion of the sale, the chief executive officer owned 11,224 shares in the company, valued at $3,646,902.08. This trade represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by corporate insiders.

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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