Citigroup Inc. Purchases 87,913 Shares of Huntington Ingalls Industries, Inc. (NYSE:HII)

Key Points

• Citigroup Inc. significantly increased its stake in Huntington Ingalls Industries, Inc. by 91.7% during the 1st quarter, holding 183,799 shares valued at approximately $37.5 million.
• Huntington Ingalls reported a quarterly EPS of $3.86, exceeding analyst estimates of $3.23, with revenues reaching $3.08 billion, above expectations.
• The company announced a quarterly dividend of $1.35 per share, reflecting an annualized yield of 2.0%, set to be paid on September 12th.

Citigroup Inc. raised its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 91.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 183,799 shares of the aerospace company's stock after purchasing an additional 87,913 shares during the period. Citigroup Inc. owned 0.47% of Huntington Ingalls Industries worth $37,502,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in Huntington Ingalls Industries by 75,182.7% during the first quarter. GAMMA Investing LLC now owns 492,349 shares of the aerospace company's stock valued at $1,004,590,000 after purchasing an additional 491,695 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Huntington Ingalls Industries by 1,648.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 375,872 shares of the aerospace company's stock valued at $71,029,000 after acquiring an additional 354,374 shares during the last quarter. Auto Owners Insurance Co increased its position in shares of Huntington Ingalls Industries by 273.2% during the 1st quarter. Auto Owners Insurance Co now owns 455,308 shares of the aerospace company's stock worth $92,901,000 after purchasing an additional 333,308 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Huntington Ingalls Industries by 4,900.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 210,480 shares of the aerospace company's stock worth $39,774,000 after purchasing an additional 206,271 shares in the last quarter. Finally, Earnest Partners LLC boosted its stake in Huntington Ingalls Industries by 32.6% in the fourth quarter. Earnest Partners LLC now owns 831,965 shares of the aerospace company's stock valued at $157,216,000 after acquiring an additional 204,376 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HII has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Bank of America upped their price target on shares of Huntington Ingalls Industries from $180.00 to $260.00 and gave the stock an "underperform" rating in a research note on Wednesday. Alembic Global Advisors raised Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 price target for the company in a research note on Thursday, May 15th. TD Cowen raised Huntington Ingalls Industries from a "hold" rating to a "buy" rating and lifted their price target for the stock from $250.00 to $300.00 in a research note on Thursday, July 10th. Finally, The Goldman Sachs Group lifted their price target on Huntington Ingalls Industries from $236.00 to $265.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $267.00.

Huntington Ingalls Industries Trading Down 0.4%

Shares of NYSE HII traded down $1.20 during midday trading on Friday, hitting $266.26. The stock had a trading volume of 162,731 shares, compared to its average volume of 637,952. Huntington Ingalls Industries, Inc. has a 1-year low of $158.88 and a 1-year high of $293.14. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.63 and a beta of 0.33. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average price of $250.71 and a 200 day moving average price of $219.99.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The aerospace company reported $3.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.63. Huntington Ingalls Industries had a net margin of 4.54% and a return on equity of 11.34%. The company had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter in the previous year, the company posted $4.38 EPS. The business's revenue was up 3.5% compared to the same quarter last year. On average, analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current year.

Huntington Ingalls Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.0%. Huntington Ingalls Industries's dividend payout ratio (DPR) is presently 40.42%.

Insider Activity

In other news, VP Chad N. Boudreaux sold 1,965 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $228.94, for a total transaction of $449,867.10. Following the completion of the sale, the vice president owned 21,228 shares in the company, valued at $4,859,938.32. The trade was a 8.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.72% of the company's stock.

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.