Huntington Ingalls Industries, Inc. $HII Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its Huntington Ingalls Industries stake by 14.8% in the first quarter, selling 14,644 shares and retaining 84,044 shares valued at approximately $31.9 million. Institutional investors collectively own 90.46% of HII.
• 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 declared a quarterly dividend of $1.38, equivalent to a 1.7% annual yield.
• Analyst sentiment remains mixed, with five Buy ratings and six Hold ratings; the stock has a consensus “Hold” rating and a $386.38 price target, compared with its reported opening price of $325.83.

Royal Bank of Canada trimmed its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 14.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,044 shares of the aerospace company's stock after selling 14,644 shares during the quarter. Royal Bank of Canada owned about 0.21% of Huntington Ingalls Industries worth $31,929,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HII. Geneos Wealth Management Inc. boosted its stake 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 valued at $42,000 after acquiring an additional 59 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Huntington Ingalls Industries by 329.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company's stock valued at $88,000 after purchasing an additional 280 shares during the period. Marshall Wace LLP grew its stake in 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 during the last quarter. Cresset Asset Management LLC grew its stake in 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 during the last quarter. Finally, Jump Financial LLC acquired a new position in Huntington Ingalls Industries during the second quarter worth approximately $398,000. Institutional investors and hedge funds own 90.46% of the company's stock.

Huntington Ingalls Industries Stock Performance

Shares of HII opened at $325.83 on Tuesday. The stock has a market capitalization of $12.84 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.40 and a beta of 0.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.14 and a current ratio of 1.23. Huntington Ingalls Industries, Inc. has a 1 year low of $259.00 and a 1 year high of $460.00. The company's fifty day moving average is $291.01 and its two-hundred day moving average is $358.25.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its earnings results on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, topping the consensus estimate of $3.79 by $1.48. The company had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The business's revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business earned $3.86 EPS. On average, sell-side analysts predict that Huntington Ingalls Industries, Inc. will post 17.31 earnings per share for the current year.

Huntington Ingalls Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a $1.38 dividend. The ex-dividend date is Friday, August 28th. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. Huntington Ingalls Industries's dividend payout ratio (DPR) is presently 32.90%.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of Huntington Ingalls Industries stock in a transaction that occurred 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 sale, the vice president owned 8,391 shares of the company's stock, valued at approximately $2,681,595.78. The trade was a 29.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HII. Wall Street Zen lowered shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Citigroup lifted their price objective on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a research note on Friday. Wolfe Research upgraded shares of Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 target price for the company in a research note on Friday. TD Cowen lowered their price target on Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, July 13th. Finally, Weiss Ratings cut Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $386.38.

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.

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.