Huntington Ingalls Industries, Inc. $HII Shares Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth increased its Huntington Ingalls Industries stake by 51.5% in the second quarter, bringing its holdings to 25,114 shares valued at approximately $7.0 million. Institutional investors and hedge funds collectively own 90.46% of HII.
• Analysts maintain a generally positive outlook, with HII receiving a “Moderate Buy” consensus rating and an average price target of $368.88. Citigroup and Wolfe Research recently raised their ratings or price targets.
• 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. The company also pays a quarterly dividend of $1.38 per share, representing a 2.0% yield.

Corient Private Wealth LP raised its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 51.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,114 shares of the aerospace company's stock after purchasing an additional 8,532 shares during the period. Corient Private Wealth LP owned about 0.06% of Huntington Ingalls Industries worth $7,029,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of HII. Bayban bought a new position in shares of Huntington Ingalls Industries in the 1st quarter worth about $27,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Huntington Ingalls Industries during the 1st quarter valued at about $36,000. Motiv8 Investments LLC acquired a new stake in Huntington Ingalls Industries during the fourth quarter worth about $38,000. Elyxium Wealth LLC bought a new position in Huntington Ingalls Industries in the fourth quarter worth about $42,000. Finally, MV Capital Management Inc. bought a new position in Huntington Ingalls Industries in the fourth quarter worth about $44,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup upped their target price on Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a report on Friday, July 31st. Weiss Ratings raised Huntington Ingalls Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 31st. Wells Fargo & Company boosted their price objective on Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 4th. Wolfe Research raised Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 target price on the stock in a research report on Friday, July 31st. Finally, Sanford C. Bernstein set a $341.00 target price on Huntington Ingalls Industries in a research report on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Huntington Ingalls Industries presently has an average rating of "Moderate Buy" and a consensus target price of $368.88.

Insider Transactions at Huntington Ingalls Industries

In other news, CEO Christopher Kastner sold 13,070 shares of the stock in a transaction 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 transaction, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.80% of the company's stock.

Huntington Ingalls Industries Stock Performance

HII opened at $277.21 on Friday. The business's 50 day moving average is $296.53 and its 200-day moving average is $330.42. The stock has a market cap of $10.92 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.05 and a beta of 0.23. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.51. Huntington Ingalls Industries, Inc. has a twelve month low of $263.62 and a twelve month high of $460.00.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $1.48. Huntington Ingalls Industries had a return on equity of 12.89% and a net margin of 5.01%.The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm posted $3.86 earnings per share. The business's revenue was up 10.9% on a year-over-year basis. On average, analysts predict that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

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

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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