Huntington Ingalls Industries, Inc. $HII Shares Acquired by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its Huntington Ingalls Industries stake by 589.9% in the second quarter, ending with 18,144 shares valued at approximately $5.1 million. Institutional investors collectively own 90.46% of HII’s outstanding stock.
• HII reported quarterly earnings of $5.27 per share, exceeding estimates of $3.79, while revenue rose 10.9% year over year to $3.42 billion. Analysts expect full-year EPS of $18.47.
• Shares opened at $279.36, near the lower end of their 52-week range, while the company maintained a quarterly dividend of $1.38 per share, equivalent to a 2.0% annualized yield. Analysts have a consensus “Moderate Buy” rating and an average price target of $368.88.

Engineers Gate Manager LP lifted its stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 589.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,144 shares of the aerospace company's stock after buying an additional 15,514 shares during the quarter. Engineers Gate Manager LP's holdings in Huntington Ingalls Industries were worth $5,078,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Chase Investment Counsel Corp purchased a new stake in shares of Huntington Ingalls Industries during the 4th quarter worth about $4,634,000. Rothschild Investment LLC increased its stake in shares of Huntington Ingalls Industries by 478.1% in the 4th quarter. Rothschild Investment LLC now owns 5,295 shares of the aerospace company's stock valued at $1,801,000 after purchasing an additional 4,379 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Huntington Ingalls Industries by 38,526.6% in 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 purchasing an additional 1,981,424 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Huntington Ingalls Industries by 71.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 365,760 shares of the aerospace company's stock worth $124,384,000 after purchasing an additional 152,624 shares during the period. Finally, Martingale Asset Management L P boosted its position in Huntington Ingalls Industries by 29.5% during the fourth quarter. Martingale Asset Management L P now owns 45,782 shares of the aerospace company's stock worth $15,569,000 after purchasing an additional 10,419 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Huntington Ingalls Industries Trading Down 0.8%

Shares of HII stock opened at $279.36 on Friday. 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 stock's fifty day moving average is $297.38 and its two-hundred day moving average is $335.75. The firm has a market capitalization of $11.01 billion, a P/E ratio of 16.65, a PEG ratio of 1.06 and a beta of 0.23.

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, beating analysts' consensus estimates of $3.79 by $1.48. The business had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The company's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.86 earnings per share. Research analysts expect that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, August 28th. Huntington Ingalls Industries's dividend payout ratio (DPR) is 32.90%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HII shares. Weiss Ratings upgraded Huntington Ingalls Industries from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 31st. Wolfe Research raised shares of Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 price objective on the stock in a report on Friday, July 31st. Citigroup lifted their target price 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. Wells Fargo & Company upped their price target on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 4th. Finally, Sanford C. Bernstein set a $341.00 price target on shares of Huntington Ingalls Industries in a research note on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $368.88.

Insider Activity

In other news, CEO Christopher Kastner sold 13,070 shares of the company'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 completion of the sale, the chief executive officer directly owned 11,224 shares in the company, valued at $3,646,902.08. This represents a 53.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by company insiders.

Huntington Ingalls Industries Company Profile

Huntington Ingalls Industries, Inc NYSE: HII is a U.S. defense company focused on designing, building, modernizing and maintaining military ships and providing technology services to government customers. It is the largest military shipbuilding company in the United States and one of the few companies capable of designing and constructing nuclear-powered aircraft carriers and submarines.

HII operates through three primary businesses: Newport News Shipbuilding, Ingalls Shipbuilding and Mission Technologies.

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