Diamond Hill Capital Management Inc. Sells 114,490 Shares of Huntington Ingalls Industries, Inc. $HII

Key Points

• Diamond Hill Capital Management cut its stake in Huntington Ingalls Industries by 25.9% in the fourth quarter, selling 114,490 shares and ending with 327,342 shares worth about $111.3 million.
• Insider selling was also reported, with VP Chad N. Boudreaux and EVP Eric D. Chewning both reducing their holdings in March transactions totaling more than $2.5 million.
• Huntington Ingalls reported better-than-expected quarterly results, with EPS of $3.79 and revenue of $3.10 billion, while analysts currently rate the stock a consensus Hold with a $388.50 price target.

Diamond Hill Capital Management Inc. lessened its position in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 327,342 shares of the aerospace company's stock after selling 114,490 shares during the period. Diamond Hill Capital Management Inc. owned 0.83% of Huntington Ingalls Industries worth $111,319,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. NBC Securities Inc. grew its holdings in Huntington Ingalls Industries by 87.2% in the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company's stock worth $30,000 after acquiring an additional 41 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in shares of Huntington Ingalls Industries in the 2nd quarter worth about $25,000. Rakuten Securities Inc. lifted its position in shares of Huntington Ingalls Industries by 140.0% in the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock worth $26,000 after purchasing an additional 63 shares during the period. Community Bank N.A. purchased a new stake in shares of Huntington Ingalls Industries in the 3rd quarter worth about $35,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Huntington Ingalls Industries in the 4th quarter worth about $42,000. Institutional investors own 90.46% of the company's stock.

Insider Transactions at Huntington Ingalls Industries

In other news, VP Chad N. Boudreaux sold 4,400 shares of Huntington Ingalls Industries stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $422.45, for a total value of $1,858,780.00. Following the completion of the sale, the vice president directly owned 20,360 shares in the company, valued at $8,601,082. The trade was a 17.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Eric D. Chewning sold 1,700 shares of Huntington Ingalls Industries stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total transaction of $736,848.00. Following the completion of the sale, the executive vice president owned 1,949 shares of the company's stock, valued at $844,774.56. This represents a 46.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TD Cowen dropped 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 research report on Thursday, May 14th. Wall Street Zen cut shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday. Citigroup dropped 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 research report on Monday. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $421.00 target price on shares of Huntington Ingalls Industries in a research report on Wednesday, February 11th. Finally, Weiss Ratings cut shares of Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $388.50.

Huntington Ingalls Industries Stock Down 1.4%

NYSE:HII opened at $317.28 on Friday. The firm has a market cap of $12.50 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.36 and a beta of 0.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.19. Huntington Ingalls Industries, Inc. has a fifty-two week low of $215.04 and a fifty-two week high of $460.00. The firm has a 50-day simple moving average of $375.41 and a two-hundred day simple moving average of $372.34.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share for the quarter, beating 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 net margin of 4.71% and a return on equity of 12.05%. Huntington Ingalls Industries's revenue was up 13.4% compared to the same quarter last year. During the same period last year, the business earned $3.79 EPS. Analysts predict that Huntington Ingalls Industries, Inc. will post 17.29 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, May 29th. Huntington Ingalls Industries's dividend payout ratio (DPR) is currently 35.91%.

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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