Huntington Ingalls Industries, Inc. $HII Shares Sold by Strs Ohio

Key Points

• Strs Ohio cut its stake in Huntington Ingalls Industries by 14.2% in the first quarter, selling 7,801 shares and ending with 47,133 shares worth about $17.9 million.
• Insider selling also occurred, with VP Edmond E. Jr. Hughes selling 3,500 shares at $319.58 each, reducing his holdings by 29.43%.
• HII reported better-than-expected quarterly results with EPS of $3.79 on revenue of $3.10 billion, and it paid a quarterly dividend of $1.38 per share, equivalent to a 1.9% annualized yield.

Strs Ohio reduced its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,133 shares of the aerospace company's stock after selling 7,801 shares during the period. Strs Ohio owned 0.12% of Huntington Ingalls Industries worth $17,906,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HII. TriaGen Wealth Management LLC boosted its stake in shares of Huntington Ingalls Industries by 1.6% in the fourth quarter. TriaGen Wealth Management LLC now owns 1,971 shares of the aerospace company's stock worth $670,000 after acquiring an additional 31 shares during the last quarter. CI Investments Inc. raised its stake in Huntington Ingalls Industries by 16.7% in the 3rd quarter. CI Investments Inc. now owns 231 shares of the aerospace company's stock valued at $67,000 after purchasing an additional 33 shares during the last quarter. Intrust Bank NA lifted its holdings in Huntington Ingalls Industries by 4.5% in the 4th quarter. Intrust Bank NA now owns 821 shares of the aerospace company's stock valued at $279,000 after purchasing an additional 35 shares in the last quarter. Oakworth Capital Inc. boosted its stake in Huntington Ingalls Industries by 1.7% during the 4th quarter. Oakworth Capital Inc. now owns 2,205 shares of the aerospace company's stock worth $750,000 after purchasing an additional 36 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Huntington Ingalls Industries by 3.2% during the 4th quarter. Signaturefd LLC now owns 1,280 shares of the aerospace company's stock worth $435,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Insiders Place Their Bets

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $319.58, for a total value of $1,118,530.00. Following the completion of the sale, the vice president owned 8,391 shares of the company's stock, valued at $2,681,595.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by insiders.

Analysts Set New Price Targets

HII has been the subject of a number of research reports. Wells Fargo & Company initiated coverage on shares of Huntington Ingalls Industries in a report on Wednesday, April 1st. They set an "equal weight" rating and a $400.00 target price for the company. TD Cowen lowered their price target on shares of Huntington Ingalls Industries from $460.00 to $420.00 and set a "buy" rating on the stock in a research report on Thursday, May 14th. 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. Weiss Ratings cut shares of Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, May 6th. Finally, Citigroup cut their price objective on shares of Huntington Ingalls Industries from $405.00 to $349.00 and set a "buy" rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $381.50.

Huntington Ingalls Industries Stock Down 0.3%

Shares of NYSE:HII opened at $290.70 on Friday. Huntington Ingalls Industries, Inc. has a 52-week low of $246.34 and a 52-week high of $460.00. The stock has a market cap of $11.45 billion, a P/E ratio of 18.91, a PEG ratio of 1.23 and a beta of 0.25. The business has a fifty day moving average of $310.56 and a two-hundred day moving average of $367.87. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 0.52.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.02 billion. During the same quarter in the previous year, the company posted $3.79 EPS. The company's revenue was up 13.4% compared to the same quarter last year. On average, research analysts expect that Huntington Ingalls Industries, Inc. will post 17.32 earnings per share for the current year.

Huntington Ingalls Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a dividend of $1.38 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $5.52 dividend on an annualized basis and a yield of 1.9%. Huntington Ingalls Industries's payout ratio is 35.91%.

Huntington Ingalls Industries Company 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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