Huntington Ingalls Industries, Inc. $HII Shares Sold by HITE Hedge Asset Management LLC

Key Points

• HITE Hedge Asset Management cut its stake in Huntington Ingalls Industries by 21.6% in Q3, selling 6,578 shares and retaining 23,892 shares worth about $6.88 million (≈0.06% of the company).
• HII topped expectations for the quarter with $4.04 EPS vs. $3.72 estimated and $3.48B in revenue (up 15.7% y/y); the stock trades near $414 with a market cap of $16.3B, P/E ≈27 and a 1.3% dividend yield ($1.38 quarterly).
• Insiders have recently sold shares (EVP sold 1,700 at ~$433 and a VP sold 4,400 at ~$422) while institutional ownership remains high at 90.46%; analysts are mixed, averaging a "Hold" rating with a $384.13 target despite several buy upgrades and raised targets.

HITE Hedge Asset Management LLC reduced its stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 21.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,892 shares of the aerospace company's stock after selling 6,578 shares during the quarter. HITE Hedge Asset Management LLC owned approximately 0.06% of Huntington Ingalls Industries worth $6,879,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in shares of Huntington Ingalls Industries during the 2nd quarter valued at about $25,000. Rakuten Securities Inc. increased its position in Huntington Ingalls Industries by 140.0% during the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock worth $26,000 after purchasing an additional 63 shares during the last quarter. Anchor Investment Management LLC increased its position in Huntington Ingalls Industries by 400.0% during the second quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company's stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc raised its stake in Huntington Ingalls Industries by 120.0% during the third quarter. Versant Capital Management Inc now owns 110 shares of the aerospace company's stock worth $32,000 after purchasing an additional 60 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Huntington Ingalls Industries by 363.3% during the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company's stock worth $33,000 after purchasing an additional 109 shares during the period. 90.46% of the stock is owned by institutional investors and hedge funds.

Huntington Ingalls Industries Price Performance

Shares of HII opened at $414.44 on Friday. The firm has a 50-day simple moving average of $415.01 and a two-hundred day simple moving average of $340.41. The stock has a market cap of $16.26 billion, a PE ratio of 26.96, a P/E/G ratio of 1.69 and a beta of 0.32. Huntington Ingalls Industries, Inc. has a 1-year low of $177.42 and a 1-year high of $460.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.13 and a quick ratio of 1.06.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last issued its quarterly earnings data on Thursday, February 5th. The aerospace company reported $4.04 EPS for the quarter, topping the consensus estimate of $3.72 by $0.32. Huntington Ingalls Industries had a net margin of 4.85% and a return on equity of 12.28%. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business posted $3.15 EPS. The business's revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, February 27th. Huntington Ingalls Industries's dividend payout ratio is 35.91%.

Analyst Ratings Changes

Several research firms have recently weighed in on HII. Sanford C. Bernstein reissued a "market perform" rating and issued a $421.00 price target on shares of Huntington Ingalls Industries in a research note on Wednesday, February 11th. The Goldman Sachs Group lifted their price target on shares of Huntington Ingalls Industries from $384.00 to $425.00 and gave the company a "buy" rating in a research report on Tuesday, January 20th. Weiss Ratings lowered Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, March 5th. Melius Research raised Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a research note on Monday, January 5th. Finally, TD Cowen lifted their target price on Huntington Ingalls Industries from $440.00 to $460.00 and gave the company a "buy" rating in a research report on Friday, March 6th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $384.13.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, EVP Eric D. Chewning sold 1,700 shares of the business's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total value of $736,848.00. Following the sale, the executive vice president owned 1,949 shares in the company, valued at approximately $844,774.56. The trade was a 46.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chad N. Boudreaux sold 4,400 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $422.45, for a total value of $1,858,780.00. Following the transaction, the vice president directly owned 20,360 shares in the company, valued at approximately $8,601,082. The trade was a 17.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.72% of the company's stock.

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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