Fifth Third Bancorp Grows Holdings in Huntington Ingalls Industries, Inc. $HII

Key Points

• Fifth Third Bancorp boosted its stake in Huntington Ingalls Industries by 81% in the first quarter, ending with 16,371 shares valued at about $6.22 million.
• HII reported better-than-expected quarterly results, with earnings of $3.79 per share and revenue of $3.10 billion, while revenue rose 13.4% year over year.
• The company paid a quarterly dividend of $1.38 per share, and analysts currently have a Hold consensus on the stock with an average price target of $374.

Fifth Third Bancorp lifted its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 81.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,371 shares of the aerospace company's stock after buying an additional 7,327 shares during the quarter. Fifth Third Bancorp's holdings in Huntington Ingalls Industries were worth $6,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in HII. M&T Bank Corp grew its holdings in Huntington Ingalls Industries by 205.8% during the 4th quarter. M&T Bank Corp now owns 40,031 shares of the aerospace company's stock worth $13,613,000 after acquiring an additional 26,940 shares in the last quarter. Chase Investment Counsel Corp acquired a new stake in shares of Huntington Ingalls Industries in the 4th quarter valued at about $4,634,000. Builder Investment Group Inc. ADV acquired a new stake in shares of Huntington Ingalls Industries in the 4th quarter valued at about $6,815,000. Gradient Investments LLC lifted its position in shares of Huntington Ingalls Industries by 662.3% during the fourth quarter. Gradient Investments LLC now owns 44,806 shares of the aerospace company's stock worth $15,237,000 after purchasing an additional 38,928 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of Huntington Ingalls Industries by 478.1% during the fourth quarter. Rothschild Investment LLC now owns 5,295 shares of the aerospace company's stock worth $1,801,000 after purchasing an additional 4,379 shares during the last quarter. Institutional investors own 90.46% of the company's stock.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction dated Thursday, May 28th. The shares were 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 of the company's stock, valued at $2,681,595.78. This trade represents a 29.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is currently owned by company insiders.

Huntington Ingalls Industries Stock Performance

Shares of HII stock opened at $270.88 on Friday. 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 business has a 50 day moving average of $299.00 and a two-hundred day moving average of $364.45. Huntington Ingalls Industries, Inc. has a 52 week low of $250.91 and a 52 week high of $460.00. The company has a market cap of $10.67 billion, a P/E ratio of 17.62, a PEG ratio of 1.19 and a beta of 0.25.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share for the quarter, topping analysts' consensus estimates of $3.70 by $0.09. The business had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.79 EPS. As a group, analysts anticipate that Huntington Ingalls Industries, Inc. will post 17.31 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a dividend of $1.38 per share. The ex-dividend date was Friday, May 29th. This represents a $5.52 annualized dividend and a dividend yield of 2.0%. Huntington Ingalls Industries's dividend payout ratio is currently 35.91%.

Analyst Ratings Changes

Several brokerages recently weighed in on HII. Weiss Ratings lowered Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. TD Cowen reduced their target price on Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a report on Monday. Citigroup reduced their target price on Huntington Ingalls Industries from $405.00 to $349.00 and set a "buy" rating on the stock in a report on Wednesday, July 1st. Wells Fargo & Company assumed coverage on Huntington Ingalls Industries in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 price target for the company. Finally, Wall Street Zen lowered Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $374.00.

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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