Huntington Ingalls Industries, Inc. $HII Shares Sold by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management cut its Huntington Ingalls Industries stake by 7.1% in the second quarter, selling 9,296 shares and retaining 121,016 shares valued at approximately $33.9 million. Institutional investors collectively own 90.46% of HII.
• HII reported stronger-than-expected quarterly results, with earnings per share of $5.27 versus the $3.79 consensus and revenue of $3.42 billion, up 10.9% year over year.
• The stock opened at $257.04, near its 52-week low, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $367.12. The company also pays a quarterly dividend of $1.38, yielding about 2.1% annually.

Envestnet Asset Management Inc. decreased its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 7.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 121,016 shares of the aerospace company's stock after selling 9,296 shares during the period. Envestnet Asset Management Inc. owned 0.31% of Huntington Ingalls Industries worth $33,871,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HII. Bayban acquired a new stake in shares of Huntington Ingalls Industries during the first quarter worth $27,000. Cassaday & Co Wealth Management LLC acquired a new position in Huntington Ingalls Industries in the first quarter valued at $36,000. Motiv8 Investments LLC purchased a new position in Huntington Ingalls Industries during the fourth quarter worth about $38,000. MV Capital Management Inc. purchased a new position in Huntington Ingalls Industries during the fourth quarter worth about $44,000. Finally, Bogart Wealth LLC lifted its position in Huntington Ingalls Industries by 1,775.0% during the first quarter. Bogart Wealth LLC now owns 150 shares of the aerospace company's stock worth $57,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 90.46% of the company's stock.

Huntington Ingalls Industries Stock Down 2.6%

Shares of NYSE:HII opened at $257.04 on Tuesday. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 0.99 and a beta of 0.23. The company has a 50 day moving average of $295.27 and a two-hundred day moving average of $322.29. Huntington Ingalls Industries, Inc. has a 52-week low of $256.81 and a 52-week high of $460.00. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last posted its earnings results on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $3.42 billion for the quarter, compared to analysts' expectations of $3.15 billion. During the same period in the previous year, the company posted $3.86 earnings per share. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. As a group, analysts forecast that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, August 28th. Huntington Ingalls Industries's dividend payout ratio is presently 32.90%.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, CEO Christopher Kastner sold 13,070 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 11,224 shares in the company, valued at approximately $3,646,902.08. The trade was a 53.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the company. TD Cowen lowered their price target on Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating for the company in a report on Monday, July 13th. Weiss Ratings upgraded shares of Huntington Ingalls Industries from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 31st. Sanford C. Bernstein decreased their target price on shares of Huntington Ingalls Industries from $341.00 to $327.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 23rd. Wells Fargo & Company boosted their target price on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an "equal weight" rating in a report on Tuesday, August 4th. Finally, Wolfe Research raised shares of Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 price target for the company in a research report on Friday, July 31st. Five investment 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 currently has an average rating of "Moderate Buy" and an average price target of $367.12.

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.

Want to see what other hedge funds are holding HII? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.