Jupiter Topco LLC Buys Shares of 27,751 Huntington Ingalls Industries, Inc. $HII

Key Points

• Jupiter Topco LLC acquired 27,751 shares of Huntington Ingalls Industries, valued at approximately $7.77 million, establishing a 0.07% stake. Institutional investors collectively own 90.46% of HII.
• HII’s latest quarterly results exceeded expectations, with adjusted earnings of $5.27 per share versus the $3.79 estimate and revenue of $3.42 billion, up 10.9% year over year.
• The company declared a quarterly dividend of $1.38 per share, or $5.52 annualized, representing a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $368.88, while CEO Christopher Kastner sold 13,070 shares under a pre-arranged trading plan.

Jupiter Topco LLC acquired a new position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 27,751 shares of the aerospace company's stock, valued at approximately $7,771,000. Jupiter Topco LLC owned 0.07% of Huntington Ingalls Industries at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. CYBER HORNET ETFs LLC purchased a new position in shares of Huntington Ingalls Industries during the 2nd quarter worth $25,000. Rakuten Securities Inc. raised its holdings in Huntington Ingalls Industries by 140.0% in the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock worth $26,000 after purchasing an additional 63 shares during the period. Bayban bought a new stake in Huntington Ingalls Industries during the first quarter valued at about $27,000. Smartleaf Asset Management LLC grew its holdings in Huntington Ingalls Industries by 363.3% during the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company's stock valued at $33,000 after purchasing an additional 109 shares during the period. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in Huntington Ingalls Industries in the first quarter worth about $36,000. Hedge funds and other institutional investors own 90.46% of the company's stock.

Insider Buying and Selling

In related news, CEO Christopher D. Kastner sold 13,070 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $324.92, for a total value of $4,246,704.40. Following the sale, the chief executive officer directly owned 11,224 shares of the company's stock, valued at $3,646,902.08. This represents a 53.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.80% of the company's stock.

Huntington Ingalls Industries Trading Down 0.0%

HII stock opened at $294.09 on Monday. The firm has a fifty day moving average price of $296.49 and a 200 day moving average price of $344.43. Huntington Ingalls Industries, Inc. has a fifty-two week low of $263.62 and a fifty-two week high of $460.00. The firm has a market cap of $11.59 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.11 and a beta of 0.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.14 and a current ratio of 1.23.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the firm earned $3.86 earnings per share. Huntington Ingalls Industries's quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts anticipate that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, August 28th. Huntington Ingalls Industries's dividend payout ratio is presently 32.90%.

Wall Street Analyst Weigh In

HII has been the topic of several recent research reports. Weiss Ratings downgraded Huntington Ingalls Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Wells Fargo & Company increased their target price on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 4th. Wall Street Zen cut shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Citigroup lifted their price target on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Sanford C. Bernstein set a $341.00 price target on shares of Huntington Ingalls Industries in a research report on Tuesday, August 25th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $368.88.

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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