Huntington Ingalls Industries, Inc. (NYSE:HII) Position Trimmed by State of Michigan Retirement System

State of Michigan Retirement System decreased its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,606 shares of the aerospace company's stock after selling 1,584 shares during the period. State of Michigan Retirement System's holdings in Huntington Ingalls Industries were worth $2,164,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Generali Asset Management SPA SGR acquired a new position in Huntington Ingalls Industries in the 4th quarter valued at approximately $2,056,000. Integrated Quantitative Investments LLC acquired a new position in Huntington Ingalls Industries in the 4th quarter valued at approximately $283,000. Allstate Corp acquired a new position in Huntington Ingalls Industries in the 4th quarter valued at approximately $237,000. GAMMA Investing LLC increased its stake in Huntington Ingalls Industries by 269.0% in the 1st quarter. GAMMA Investing LLC now owns 2,413 shares of the aerospace company's stock valued at $492,000 after buying an additional 1,759 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Huntington Ingalls Industries in the 1st quarter valued at approximately $1,324,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Stock Performance

HII stock opened at $258.26 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 1.59 and a beta of 0.31. Huntington Ingalls Industries, Inc. has a 12 month low of $158.88 and a 12 month high of $285.81. The firm has a 50 day moving average of $233.56 and a two-hundred day moving average of $208.99.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.89. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.80 billion. Huntington Ingalls Industries had a net margin of 4.76% and a return on equity of 12.26%. Huntington Ingalls Industries's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.87 EPS. As a group, equities analysts anticipate that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, May 30th. Huntington Ingalls Industries's dividend payout ratio is currently 38.90%.

Insider Buying and Selling

In related news, VP Edmond E. Jr. Hughes sold 1,300 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $231.91, for a total transaction of $301,483.00. Following the completion of the sale, the vice president directly owned 9,581 shares of the company's stock, valued at approximately $2,221,929.71. This represents a 11.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anastasi D. Kelly sold 1,960 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $232.58, for a total transaction of $455,856.80. Following the sale, the director directly owned 17,485 shares of the company's stock, valued at approximately $4,066,661.30. This represents a 10.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,225 shares of company stock valued at $1,207,207. Company insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Alembic Global Advisors upgraded shares of Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 price objective on the stock in a research note on Thursday, May 15th. TD Cowen upgraded shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating and upped their price objective for the company from $250.00 to $300.00 in a research note on Thursday. Barclays upped their price objective on shares of Huntington Ingalls Industries from $200.00 to $235.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Finally, The Goldman Sachs Group boosted their target price on shares of Huntington Ingalls Industries from $236.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Huntington Ingalls Industries has an average rating of "Hold" and a consensus target price of $251.38.

Huntington Ingalls Industries Profile

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.

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