Huntington Ingalls Industries, Inc. (NYSE:HII) Shares Bought by M&T Bank Corp

M&T Bank Corp lifted its position in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 58.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,330 shares of the aerospace company's stock after buying an additional 4,905 shares during the quarter. M&T Bank Corp's holdings in Huntington Ingalls Industries were worth $2,720,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Huntington Ingalls Industries by 2.5% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 2,124 shares of the aerospace company's stock valued at $433,000 after buying an additional 51 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Huntington Ingalls Industries by 12.2% during the 1st quarter. Farther Finance Advisors LLC now owns 514 shares of the aerospace company's stock valued at $104,000 after purchasing an additional 56 shares during the last quarter. HM Payson & Co. increased its holdings in Huntington Ingalls Industries by 71.9% in the 1st quarter. HM Payson & Co. now owns 153 shares of the aerospace company's stock worth $31,000 after acquiring an additional 64 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Huntington Ingalls Industries by 8.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 820 shares of the aerospace company's stock worth $167,000 after purchasing an additional 65 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Huntington Ingalls Industries by 0.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 11,930 shares of the aerospace company's stock worth $2,254,000 after purchasing an additional 66 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Anastasi D. Kelly sold 1,960 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $232.58, for a total transaction of $455,856.80. Following the completion of the transaction, the director 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Edmond E. Jr. Hughes sold 1,300 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $231.91, for a total transaction of $301,483.00. Following the transaction, the vice president directly owned 9,581 shares of the company's stock, valued at $2,221,929.71. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,225 shares of company stock valued at $1,207,207 over the last 90 days. Insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

HII has been the subject of several research analyst reports. Barclays increased 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 report on Monday, May 5th. Alembic Global Advisors upgraded shares of Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 price target on the stock in a research report on Thursday, May 15th. The Goldman Sachs Group raised their price target on shares of Huntington Ingalls Industries from $236.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, TD Cowen upgraded shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating and lifted their target price for the company from $250.00 to $300.00 in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $251.38.

Huntington Ingalls Industries Price Performance

Shares of NYSE HII traded down $4.60 during midday trading on Tuesday, hitting $253.90. The company had a trading volume of 340,530 shares, compared to its average volume of 561,398. The company has a quick ratio of 0.99, a current ratio of 1.07 and a debt-to-equity ratio of 0.57. Huntington Ingalls Industries, Inc. has a twelve month low of $158.88 and a twelve month high of $285.81. The business has a 50-day simple moving average of $233.56 and a two-hundred day simple moving average of $208.99. The firm has a market capitalization of $9.96 billion, a price-to-earnings ratio of 18.29, a price-to-earnings-growth ratio of 1.59 and a beta of 0.31.

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

Huntington Ingalls Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, May 30th. Huntington Ingalls Industries's dividend payout ratio is presently 38.90%.

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.