Ieq Capital LLC Sells 45,742 Shares of Huntington Ingalls Industries, Inc. $HII

Key Points

• Ieq Capital cut its Huntington Ingalls Industries stake by 71.1% in the second quarter, selling 45,742 shares and retaining 18,548 shares valued at approximately $5.19 million. Hedge funds and institutional investors collectively own 90.46% of HII.
• HII reported strong quarterly results, with adjusted earnings of $5.27 per share and revenue of $3.42 billion, surpassing estimates of $3.79 per share and $3.15 billion, respectively. Revenue increased 10.9% year over year.
• The company declared a quarterly dividend of $1.38 per share, equivalent to $5.52 annually and a 1.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $378.88, while recent insider transactions included substantial stock sales by the CEO and a vice president.

Ieq Capital LLC decreased its position in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 71.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,548 shares of the aerospace company's stock after selling 45,742 shares during the quarter. Ieq Capital LLC's holdings in Huntington Ingalls Industries were worth $5,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HII. Geneos Wealth Management Inc. increased its holdings in shares of Huntington Ingalls Industries by 40.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company's stock worth $42,000 after buying an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Huntington Ingalls Industries by 329.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company's stock valued at $88,000 after acquiring an additional 280 shares during the last quarter. Marshall Wace LLP grew its position in Huntington Ingalls Industries by 432.1% in the second quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company's stock worth $9,210,000 after acquiring an additional 30,975 shares in the last quarter. Cresset Asset Management LLC grew its position in Huntington Ingalls Industries by 23.0% in the second quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company's stock worth $381,000 after acquiring an additional 294 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Huntington Ingalls Industries during the second quarter worth approximately $398,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Stock Performance

HII stock opened at $298.58 on Monday. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51. The business's fifty day simple moving average is $296.32 and its two-hundred day simple moving average is $348.25. Huntington Ingalls Industries, Inc. has a twelve month low of $263.62 and a twelve month high of $460.00. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.12 and a beta of 0.24.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, topping the consensus estimate of $3.79 by $1.48. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the firm posted $3.86 EPS. The firm's revenue was up 10.9% compared to the same quarter last year. Analysts predict that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, August 28th. Huntington Ingalls Industries's dividend payout ratio is currently 32.90%.

Insider Buying and Selling

In other news, CEO Christopher D. Kastner sold 13,070 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the transaction, the chief executive officer directly owned 11,224 shares of the company's stock, valued at approximately $3,646,902.08. This trade represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Edmond E. Jr. Hughes sold 3,500 shares of the firm's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $319.58, for a total value of $1,118,530.00. Following the transaction, the vice president owned 8,391 shares in the company, valued at $2,681,595.78. The trade was a 29.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. TD Cowen lowered their price objective on Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Weiss Ratings downgraded Huntington Ingalls Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Wells Fargo & Company boosted their price objective on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Finally, Citigroup increased their target price on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $378.88.

Huntington Ingalls Industries Profile

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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