Freestone Grove Partners LP Takes Position in Huntington Ingalls Industries, Inc. $HII

Key Points

• Freestone Grove Partners acquired 81,583 shares of Huntington Ingalls Industries, valued at approximately $22.8 million, giving the fund a 0.21% stake. Institutional investors and hedge funds collectively own 90.46% of HII.
• HII reported quarterly revenue of $3.42 billion and adjusted earnings of $5.27 per share, surpassing analyst estimates, while revenue increased 10.9% year over year.
• The company declared a quarterly dividend of $1.38 per share, equivalent to $5.52 annually and a 1.9% yield. Analysts have a “Moderate Buy” consensus rating with an average price target of $368.88.

Freestone Grove Partners LP bought a new position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 81,583 shares of the aerospace company's stock, valued at approximately $22,834,000. Freestone Grove Partners LP owned 0.21% of Huntington Ingalls Industries as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of 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. boosted 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 valued at $26,000 after purchasing an additional 63 shares during the period. Bayban purchased a new position in Huntington Ingalls Industries in the 1st quarter worth about $27,000. NBC Securities Inc. raised its holdings in Huntington Ingalls Industries by 87.2% during the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company's stock worth $30,000 after buying an additional 41 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Huntington Ingalls Industries by 363.3% during the 2nd quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company's stock worth $33,000 after buying an additional 109 shares during the period. 90.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Huntington Ingalls Industries

In related news, CEO Christopher D. Kastner sold 13,070 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $324.92, for a total value of $4,246,704.40. Following the transaction, the chief executive officer directly owned 11,224 shares of the company's stock, valued at approximately $3,646,902.08. This trade represents a 53.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.80% of the company's stock.

Huntington Ingalls Industries Stock Performance

HII stock opened at $296.89 on Friday. 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 has a market capitalization of $11.70 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 1.12 and a beta of 0.24. Huntington Ingalls Industries, Inc. has a 12 month low of $263.62 and a 12 month high of $460.00. The firm has a 50 day moving average of $296.31 and a two-hundred day moving average of $345.22.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $1.48. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the business earned $3.86 EPS. Huntington Ingalls Industries's quarterly revenue was up 10.9% compared to the same quarter last year. As a group, equities analysts anticipate that Huntington Ingalls Industries, Inc. will post 18.47 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued 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 currently 32.90%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HII. Citigroup increased their target price on Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a report on Friday, July 31st. Sanford C. Bernstein set a $341.00 price target on Huntington Ingalls Industries in a research report on Tuesday. Wolfe Research raised Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 price objective for the company in a research note on Friday, July 31st. Weiss Ratings lowered Huntington Ingalls Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Finally, Wall Street Zen downgraded Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $368.88.

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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