CPC Advisors LLC Purchases New Shares in Huntington Ingalls Industries, Inc. $HII

Key Points

• CPC Advisors LLC opened a new position in Huntington Ingalls Industries during the first quarter, buying 8,143 shares valued at about $3.09 million.
• The company reported better-than-expected quarterly results, with EPS of $3.79 versus estimates of $3.70 and revenue of $3.10 billion versus $3.02 billion forecasted.
• Huntington Ingalls paid a quarterly dividend of $1.38 per share, equal to a $5.52 annualized payout and a 1.9% yield, while analysts currently rate the stock a consensus Hold with an average price target of $388.50.

CPC Advisors LLC acquired a new position in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,143 shares of the aerospace company's stock, valued at approximately $3,094,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HII. Northwestern Mutual Wealth Management Co. increased its position in shares of Huntington Ingalls Industries by 38,526.6% during 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 buying an additional 1,981,424 shares during the period. AQR Capital Management LLC lifted its holdings in Huntington Ingalls Industries by 85.0% in the fourth quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company's stock worth $369,186,000 after buying an additional 498,690 shares during the period. Van ECK Associates Corp boosted its position in Huntington Ingalls Industries by 32.1% during the 4th quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company's stock valued at $560,004,000 after acquiring an additional 400,428 shares in the last quarter. Marshall Wace LLP boosted its position in Huntington Ingalls Industries by 588.1% during the 4th quarter. Marshall Wace LLP now owns 351,879 shares of the aerospace company's stock valued at $119,663,000 after acquiring an additional 300,740 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Huntington Ingalls Industries by 390.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 285,339 shares of the aerospace company's stock worth $97,036,000 after acquiring an additional 227,126 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Stock Performance

HII stock opened at $284.79 on Monday. The stock has a market capitalization of $11.22 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 1.21 and a beta of 0.23. Huntington Ingalls Industries, Inc. has a 12-month low of $228.69 and a 12-month high of $460.00. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. The stock's 50 day simple moving average is $332.52 and its 200 day simple moving average is $370.65.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last posted its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 EPS for the quarter, topping analysts' consensus estimates of $3.70 by $0.09. The business had revenue of $3.10 billion during 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%.The company's quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.79 EPS. As a group, research analysts forecast that Huntington Ingalls Industries, Inc. will post 17.32 earnings per share for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors 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 was Friday, May 29th. Huntington Ingalls Industries's dividend payout ratio (DPR) is presently 35.91%.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of the business's stock in a transaction dated 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 completion of the transaction, the vice president owned 8,391 shares of the company's stock, valued at approximately $2,681,595.78. The trade was a 29.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HII. Wall Street Zen lowered Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. TD Cowen dropped their price target on Huntington Ingalls Industries from $460.00 to $420.00 and set a "buy" rating on the stock in a research report on Thursday, May 14th. Citigroup reduced their price target on Huntington Ingalls Industries from $441.00 to $405.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. 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 price objective for the company. Finally, Weiss Ratings lowered Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $388.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.