Hsbc Holdings PLC Purchases 61,811 Shares of Huntington Ingalls Industries, Inc. $HII

Key Points

• Hsbc Holdings PLC more than doubled its HII stake in the second quarter, purchasing 61,811 additional shares for a total of 115,204 shares valued at approximately $32.3 million. Institutional investors collectively own 90.46% of the company.
• Analysts maintain a generally positive outlook, with HII carrying a “Moderate Buy” consensus rating and an average price target of $368.88. Recent targets range from $340 to $379.
• HII reported strong quarterly results, generating $5.27 in adjusted EPS and $3.42 billion in revenue, exceeding estimates and increasing revenue 10.9% year over year. The company also declared a quarterly dividend of $1.38, equivalent to a 1.9% annual yield.

Hsbc Holdings PLC increased its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 115.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,204 shares of the aerospace company's stock after buying an additional 61,811 shares during the period. Hsbc Holdings PLC owned 0.29% of Huntington Ingalls Industries worth $32,251,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Huntington Ingalls Industries in the 2nd quarter worth about $944,877,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Huntington Ingalls Industries by 38,526.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company's stock valued at $675,572,000 after acquiring an additional 1,981,424 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Huntington Ingalls Industries by 85.0% during the fourth quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company's stock worth $369,186,000 after purchasing an additional 498,690 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Huntington Ingalls Industries by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company's stock worth $560,004,000 after purchasing an additional 400,428 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of Huntington Ingalls Industries by 588.1% in the fourth quarter. Marshall Wace LLP now owns 351,879 shares of the aerospace company's stock worth $119,663,000 after purchasing an additional 300,740 shares during the last quarter. Institutional investors own 90.46% of the company's stock.

Insider Activity

In other news, CEO Christopher Kastner sold 13,070 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the completion of the transaction, the chief executive officer directly owned 11,224 shares of the company's stock, valued at approximately $3,646,902.08. This represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

HII has been the subject of several research analyst reports. Sanford C. Bernstein set a $341.00 target price on shares of Huntington Ingalls Industries in a research report on Tuesday, August 25th. Wolfe Research raised shares of Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 price target on the stock in a report on Friday, July 31st. Citigroup raised their price objective on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a research report on Friday, July 31st. TD Cowen dropped their price target on Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Finally, Wells Fargo & Company upped their price objective on Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $368.88.

Huntington Ingalls Industries Stock Performance

NYSE:HII opened at $285.30 on Tuesday. The firm has a market cap of $11.24 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.08 and a beta of 0.23. Huntington Ingalls Industries, Inc. has a fifty-two week low of $263.62 and a fifty-two week high of $460.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.14 and a current ratio of 1.23. The business has a 50 day moving average price of $297.58 and a 200-day moving average price of $339.35.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last issued its earnings results on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, topping 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 company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm earned $3.86 earnings per share. The firm's revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts predict that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be given a $1.38 dividend. The ex-dividend date 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 payout ratio is presently 32.90%.

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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