Morningstar Investment Services LLC lowered its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 52.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,862 shares of the aerospace company's stock after selling 6,567 shares during the period. Morningstar Investment Services LLC's holdings in Huntington Ingalls Industries were worth $1,196,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in HII. AMG National Trust Bank lifted its stake in shares of Huntington Ingalls Industries by 47.3% in the 1st quarter. AMG National Trust Bank now owns 8,310 shares of the aerospace company's stock valued at $1,696,000 after acquiring an additional 2,668 shares during the last quarter. Auxano Advisors LLC increased its position in Huntington Ingalls Industries by 89.9% during the 1st quarter. Auxano Advisors LLC now owns 2,739 shares of the aerospace company's stock valued at $559,000 after buying an additional 1,297 shares in the last quarter. Archer Investment Corp increased its position in Huntington Ingalls Industries by 30.0% during the 1st quarter. Archer Investment Corp now owns 5,200 shares of the aerospace company's stock valued at $1,061,000 after buying an additional 1,200 shares in the last quarter. Creekmur Asset Management LLC bought a new position in Huntington Ingalls Industries during the 1st quarter valued at approximately $669,000. Finally, Markel Group Inc. boosted its stake in Huntington Ingalls Industries by 350.0% during the 1st quarter. Markel Group Inc. now owns 18,000 shares of the aerospace company's stock valued at $3,673,000 after purchasing an additional 14,000 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on HII. Alembic Global Advisors upgraded Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 target price for the company in a report on Thursday, May 15th. The Goldman Sachs Group increased 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 note on Friday, May 2nd. Barclays raised their price target 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, TD Cowen raised shares of Huntington Ingalls Industries from a "hold" rating to a "buy" rating and raised their target price for the stock from $250.00 to $300.00 in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $251.38.
Read Our Latest Stock Analysis on HII
Insiders Place Their Bets
In related news, VP Edmond E. Jr. Hughes sold 1,300 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $231.91, for a total transaction of $301,483.00. Following the completion of the transaction, the vice president owned 9,581 shares of the company's stock, valued at $2,221,929.71. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Chad N. Boudreaux sold 1,965 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $228.94, for a total value of $449,867.10. Following the sale, the vice president directly owned 21,228 shares of the company's stock, valued at $4,859,938.32. This trade represents a 8.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,225 shares of company stock valued at $1,207,207 over the last quarter. Company insiders own 0.72% of the company's stock.
Huntington Ingalls Industries Stock Down 0.9%
Shares of HII stock traded down $2.40 during mid-day trading on Monday, reaching $252.10. 117,883 shares of the company's stock traded hands, compared to its average volume of 562,916. The company has a market cap of $9.89 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.57 and a beta of 0.31. The company's 50-day moving average price is $235.85 and its 200-day moving average price is $211.31. Huntington Ingalls Industries, Inc. has a 12 month low of $158.88 and a 12 month high of $285.81. 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 (NYSE:HII - Get Free Report) last posted its earnings results on Thursday, May 1st. The aerospace company reported $3.79 EPS for the quarter, beating analysts' consensus estimates of $2.90 by $0.89. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.80 billion. Huntington Ingalls Industries had a return on equity of 12.26% and a net margin of 4.76%. The company's quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.87 EPS. On average, equities analysts expect that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current fiscal year.
Huntington Ingalls Industries Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, May 30th. Huntington Ingalls Industries's dividend payout ratio (DPR) is presently 38.90%.
Huntington Ingalls Industries Company Profile
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Free Report)
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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