Legal & General Group Plc Has $18.69 Million Stock Holdings in Huntington Ingalls Industries, Inc. $HII

Key Points

• Legal & General increased its Huntington Ingalls Industries stake by 22.8% in the second quarter, owning 66,772 shares valued at approximately $18.69 million. Institutional investors and hedge funds collectively hold 90.46% of HII’s stock.
• Analyst sentiment is moderately bullish, with five Buy and five Hold ratings and a consensus price target of $368.88. Recent targets range from $340 to $379.
• HII reported quarterly earnings of $5.27 per share, exceeding estimates of $3.79, while revenue rose 10.9% year over year to $3.42 billion. The company also declared a quarterly dividend of $1.38 per share, representing a 1.9% yield.

Legal & General Group Plc boosted its position in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 22.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,772 shares of the aerospace company's stock after buying an additional 12,408 shares during the period. Legal & General Group Plc owned approximately 0.17% of Huntington Ingalls Industries worth $18,689,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in HII. CYBER HORNET ETFs LLC bought a new stake in shares of Huntington Ingalls Industries during the second quarter valued at approximately $25,000. Rakuten Securities Inc. lifted its holdings in shares of 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 in the last quarter. Bayban bought a new position in shares of Huntington Ingalls Industries in the 1st quarter worth $27,000. Smartleaf Asset Management LLC grew its position in Huntington Ingalls Industries by 363.3% in the 2nd 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 acquired a new stake in Huntington Ingalls Industries in the 1st quarter valued at $36,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Cowen lowered their target price on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, July 13th. Wolfe Research upgraded Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 price target for the company in a research note on Friday, July 31st. Citigroup boosted their price objective on Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Wells Fargo & Company raised their target price on Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an "equal weight" rating in a report on Tuesday, August 4th. Finally, Sanford C. Bernstein set a $341.00 target price on Huntington Ingalls Industries in a research report on Tuesday, August 25th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $368.88.

Insider Buying and Selling

In related news, CEO Christopher D. Kastner sold 13,070 shares of Huntington Ingalls Industries stock in a transaction on Monday, August 10th. The stock was sold at an average price of $324.92, for a total transaction of $4,246,704.40. Following the sale, the chief executive officer directly owned 11,224 shares in the company, 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. Company insiders own 0.80% of the company's stock.

Huntington Ingalls Industries Stock Down 0.0%

Huntington Ingalls Industries stock opened at $294.09 on Monday. Huntington Ingalls Industries, Inc. has a fifty-two week low of $263.62 and a fifty-two week high of $460.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.14 and a current ratio of 1.23. The firm's 50-day simple moving average is $296.49 and its 200 day simple moving average is $344.43. The stock 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.

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, beating 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 firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the business posted $3.86 EPS. The company's revenue for the quarter was up 10.9% on a year-over-year basis. Research analysts predict that Huntington Ingalls Industries, Inc. will post 18.47 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

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

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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