ICICI Prudential Asset Management Co Ltd Has $9.87 Million Stock Holdings in Huntington Ingalls Industries, Inc. $HII

Key Points

• ICICI Prudential Asset Management reduced its Huntington Ingalls Industries stake by 25% in the fourth quarter, leaving it with 29,018 shares valued at about $9.87 million.
• HII reported stronger-than-expected results for the latest quarter, with EPS of $3.79 beating estimates and revenue of $3.10 billion coming in above forecasts; revenue rose 13.4% year over year.
• The company also announced a quarterly dividend of $1.38 per share, while analysts currently have a consensus Hold rating on the stock with an average price target of $388.50.

ICICI Prudential Asset Management Co Ltd cut its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 25.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,018 shares of the aerospace company's stock after selling 9,661 shares during the quarter. Huntington Ingalls Industries comprises approximately 1.2% of ICICI Prudential Asset Management Co Ltd's holdings, making the stock its 17th largest position. ICICI Prudential Asset Management Co Ltd owned about 0.07% of Huntington Ingalls Industries worth $9,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. M&T Bank Corp lifted its stake in shares of Huntington Ingalls Industries by 205.8% in the fourth quarter. M&T Bank Corp now owns 40,031 shares of the aerospace company's stock worth $13,613,000 after buying an additional 26,940 shares during the last quarter. Chase Investment Counsel Corp acquired a new position in Huntington Ingalls Industries during the 4th quarter valued at $4,634,000. Builder Investment Group Inc. ADV acquired a new position in Huntington Ingalls Industries during the 4th quarter valued at $6,815,000. Kettle Hill Capital Management LLC raised its stake in Huntington Ingalls Industries by 87.3% during the 3rd quarter. Kettle Hill Capital Management LLC now owns 60,816 shares of the aerospace company's stock valued at $17,510,000 after purchasing an additional 28,347 shares during the last quarter. Finally, Gradient Investments LLC raised its stake in Huntington Ingalls Industries by 662.3% during the 4th quarter. Gradient Investments LLC now owns 44,806 shares of the aerospace company's stock valued at $15,237,000 after purchasing an additional 38,928 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Huntington Ingalls Industries Trading Up 4.0%

Shares of Huntington Ingalls Industries stock opened at $300.78 on Friday. The firm has a market capitalization of $11.85 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 1.22 and a beta of 0.23. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 1.11. The company's fifty day moving average price is $345.39 and its two-hundred day moving average price is $371.46. Huntington Ingalls Industries, Inc. has a 52-week low of $223.49 and a 52-week high of $460.00.

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

Huntington Ingalls Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a $1.38 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $5.52 annualized dividend and a dividend yield of 1.8%. Huntington Ingalls Industries's dividend payout ratio is presently 35.91%.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the company's stock in a transaction dated 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 sale, the vice president owned 8,391 shares of the company's stock, valued at approximately $2,681,595.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HII shares. 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. TD Cowen cut their target price on shares of Huntington Ingalls Industries from $460.00 to $420.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. Wells Fargo & Company started coverage on shares of Huntington Ingalls Industries in a research note on Wednesday, April 1st. They set an "equal weight" rating and a $400.00 target price for the company. Bank of America upgraded shares of Huntington Ingalls Industries from an "underperform" rating to a "neutral" rating and upped their target price for the company from $300.00 to $400.00 in a research note on Thursday, February 12th. Finally, Citigroup lowered their price target on shares of Huntington Ingalls Industries from $441.00 to $405.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Huntington Ingalls Industries currently has a consensus rating of "Hold" and a consensus price target of $388.50.

About Huntington Ingalls Industries

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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