Huntington Ingalls Industries, Inc. $HII Shares Bought by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC increased its stake in Huntington Ingalls Industries by 9.8% in the first quarter, ending with 53,393 shares valued at about $20.2 million.
• Insider selling and mixed analyst sentiment were notable: VP Edmond E. Jr. Hughes sold 3,500 shares, while analysts have trimmed price targets and the stock currently carries an average Hold rating.
• HII beat earnings expectations for the latest quarter, reporting EPS of $3.79 on revenue of $3.10 billion, and it also paid a quarterly dividend of $1.38 per share.

Hsbc Holdings PLC lifted its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,393 shares of the aerospace company's stock after purchasing an additional 4,787 shares during the quarter. Hsbc Holdings PLC owned 0.14% of Huntington Ingalls Industries worth $20,246,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Geneos Wealth Management Inc. lifted its holdings in Huntington Ingalls Industries by 40.1% in the first quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company's stock worth $42,000 after purchasing an additional 59 shares during the period. EverSource Wealth Advisors LLC increased its stake in Huntington Ingalls Industries by 329.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company's stock valued at $88,000 after buying an additional 280 shares during the period. Marshall Wace LLP raised its position in shares of Huntington Ingalls Industries by 432.1% during the 2nd quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company's stock worth $9,210,000 after buying an additional 30,975 shares in the last quarter. Cresset Asset Management LLC raised its position in shares of Huntington Ingalls Industries by 23.0% during the 2nd quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company's stock worth $381,000 after buying an additional 294 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Huntington Ingalls Industries in the 2nd quarter worth approximately $398,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $319.58, for a total value of $1,118,530.00. Following the transaction, the vice president owned 8,391 shares of the company's stock, valued at approximately $2,681,595.78. This represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

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

Huntington Ingalls Industries Stock Performance

NYSE:HII opened at $268.60 on Wednesday. The company has a 50-day moving average of $295.79 and a 200-day moving average of $362.90. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.15 and a beta of 0.25. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. Huntington Ingalls Industries, Inc. has a twelve month low of $250.91 and a twelve month high of $460.00.

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

Huntington Ingalls Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders 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 annualized dividend and a yield of 2.1%. Huntington Ingalls Industries's payout ratio is 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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