Gruss & Co. LLC Takes Position in Huntington Ingalls Industries, Inc. (NYSE:HII)

Key Points

• Gruss & Co. LLC has acquired a new position in Huntington Ingalls Industries, purchasing 1,000 shares valued at approximately $204,000, making it the firm's 24th largest investment.
• Huntington Ingalls Industries reported $3.86 earnings per share (EPS) for the latest quarter, exceeding analysts' expectations of $3.23, with quarterly revenue reaching $3.08 billion.
• Insider sales at the company have occurred recently, with VP Chad N. Boudreaux selling 1,965 shares, indicating a decreased ownership of the stock.

Gruss & Co. LLC acquired a new stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,000 shares of the aerospace company's stock, valued at approximately $204,000. Huntington Ingalls Industries makes up 0.9% of Gruss & Co. LLC's investment portfolio, making the stock its 24th largest holding.

A number of other institutional investors have also recently made changes to their positions in HII. Nomura Asset Management Co. Ltd. grew its holdings in Huntington Ingalls Industries by 0.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 11,930 shares of the aerospace company's stock worth $2,254,000 after acquiring an additional 66 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in Huntington Ingalls Industries by 1.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 18,265 shares of the aerospace company's stock worth $3,452,000 after acquiring an additional 300 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in Huntington Ingalls Industries by 4.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 5,154 shares of the aerospace company's stock worth $974,000 after acquiring an additional 241 shares in the last quarter. Allstate Corp acquired a new position in Huntington Ingalls Industries during the 4th quarter worth approximately $237,000. Finally, Wellington Management Group LLP grew its holdings in Huntington Ingalls Industries by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 6,420 shares of the aerospace company's stock worth $1,213,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Huntington Ingalls Industries Trading Down 3.4%

Shares of HII traded down $9.60 during mid-day trading on Friday, hitting $269.26. The company had a trading volume of 763,551 shares, compared to its average volume of 471,886. The business's 50-day simple moving average is $243.11 and its 200-day simple moving average is $216.01. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.55. Huntington Ingalls Industries, Inc. has a 1-year low of $158.88 and a 1-year high of $293.14. The stock has a market cap of $10.57 billion, a PE ratio of 20.15, a P/E/G ratio of 1.71 and a beta of 0.33.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its earnings results on Thursday, July 31st. The aerospace company reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.63. The business had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $2.94 billion. Huntington Ingalls Industries had a net margin of 4.54% and a return on equity of 11.34%. The company's quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the company earned $4.38 earnings per share. Sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 29th. Huntington Ingalls Industries's payout ratio is 40.42%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HII shares. The Goldman Sachs Group boosted their price target on shares of Huntington Ingalls Industries from $236.00 to $265.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Barclays upped their target price on shares of Huntington Ingalls Industries from $200.00 to $235.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Wall Street Zen upgraded shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a report on Saturday. TD Cowen upgraded shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating and upped their target price for the company from $250.00 to $300.00 in a report on Thursday, July 10th. Finally, Alembic Global Advisors upgraded shares of Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 target price for the company in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $251.38.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, Director Anastasi D. Kelly sold 1,960 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $232.58, for a total transaction of $455,856.80. Following the transaction, the director directly owned 17,485 shares of the company's stock, valued at approximately $4,066,661.30. The trade was a 10.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chad N. Boudreaux sold 1,965 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $228.94, for a total transaction of $449,867.10. Following the transaction, the vice president directly owned 21,228 shares in the company, valued at approximately $4,859,938.32. The trade was a 8.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,225 shares of company stock valued at $1,207,207 over the last ninety days. Corporate insiders own 0.72% of the company's stock.

Huntington Ingalls Industries Profile

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.