Huntington Ingalls Industries, Inc. $HII Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia raised its stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 498.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,983 shares of the aerospace company's stock after purchasing an additional 23,305 shares during the quarter. Bank of Nova Scotia owned 0.07% of Huntington Ingalls Industries worth $10,631,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of HII. Bayban acquired a new stake in shares of Huntington Ingalls Industries in the 1st quarter worth $27,000. NBC Securities Inc. increased its position 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 purchasing an additional 41 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in Huntington Ingalls Industries during the 1st quarter worth approximately $36,000. CYBER HORNET ETFs LLC purchased a new position in shares of Huntington Ingalls Industries during the 2nd quarter worth approximately $25,000. Finally, Rakuten Securities Inc. raised its stake in shares of Huntington Ingalls Industries by 140.0% during the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock worth $26,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Insider Activity

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of Huntington Ingalls Industries stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $319.58, for a total transaction of $1,118,530.00. Following the completion of the transaction, the vice president owned 8,391 shares of the company's stock, valued at $2,681,595.78. The trade was a 29.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HII. Wall Street Zen downgraded Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Weiss Ratings cut Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Wells Fargo & Company started coverage on Huntington Ingalls Industries in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 target price for the company. TD Cowen decreased their target price on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Finally, Citigroup lowered their price target on shares of Huntington Ingalls Industries from $405.00 to $349.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $374.00.

Huntington Ingalls Industries Stock Performance

HII opened at $287.55 on Monday. The stock has a market cap of $11.33 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.23 and a beta of 0.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 1.11. The stock's 50 day simple moving average is $292.90 and its 200 day simple moving average is $361.48. Huntington Ingalls Industries, Inc. has a 1-year low of $256.45 and a 1-year high of $460.00.

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

Huntington Ingalls Industries Dividend Announcement

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 $1.38 dividend. The ex-dividend date was Friday, May 29th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.9%. Huntington Ingalls Industries's dividend payout ratio (DPR) is currently 35.91%.

Huntington Ingalls Industries 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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