Mackenzie Financial Corp Purchases Shares of 1,314 Huntington Ingalls Industries, Inc. (NYSE:HII)

Key Points

• Mackenzie Financial Corp has invested approximately $268,000 in Huntington Ingalls Industries, acquiring 1,314 shares during the first quarter.
• Analysts have raised their price targets for Huntington Ingalls Industries, with Barclays increasing it from $235.00 to $295.00 and the Goldman Sachs Group setting a target of $265.00.
• Huntington Ingalls Industries announced a quarterly dividend of $1.35, which signifies a 2.0% dividend yield and will be paid to stockholders on September 12th.

Mackenzie Financial Corp purchased a new stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,314 shares of the aerospace company's stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in Huntington Ingalls Industries by 6.1% during the 4th quarter. Wellington Management Group LLP now owns 6,420 shares of the aerospace company's stock valued at $1,213,000 after acquiring an additional 370 shares during the period. Bank of Montreal Can lifted its holdings in Huntington Ingalls Industries by 4.9% in the 4th quarter. Bank of Montreal Can now owns 37,340 shares of the aerospace company's stock worth $7,056,000 after buying an additional 1,758 shares during the period. FIL Ltd purchased a new stake in Huntington Ingalls Industries in the 4th quarter worth approximately $3,489,000. Bank of Nova Scotia raised its position in shares of Huntington Ingalls Industries by 3.3% in the 4th quarter. Bank of Nova Scotia now owns 5,202 shares of the aerospace company's stock worth $983,000 after acquiring an additional 168 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Huntington Ingalls Industries in the 4th quarter worth approximately $27,881,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Chad N. Boudreaux sold 1,965 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $228.94, for a total value of $449,867.10. Following the transaction, the vice president owned 21,228 shares in the company, valued at approximately $4,859,938.32. This represents a 8.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HII has been the subject of a number of research analyst reports. Wall Street Zen raised Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Barclays raised their price target on Huntington Ingalls Industries from $235.00 to $295.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Alembic Global Advisors upgraded Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 price target on the stock in a research note on Thursday, May 15th. Bank of America lifted their target price on Huntington Ingalls Industries from $180.00 to $260.00 and gave the company an "underperform" rating in a research report on Wednesday. Finally, TD Cowen upgraded Huntington Ingalls Industries from a "hold" rating to a "buy" rating and lifted their target price for the company from $250.00 to $300.00 in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $267.00.

Huntington Ingalls Industries Price Performance

Shares of HII traded down $1.43 during mid-day trading on Wednesday, reaching $266.57. 100,279 shares of the company's stock were exchanged, compared to its average volume of 642,085. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 0.55. The company has a 50-day simple moving average of $248.96 and a two-hundred day simple moving average of $219.20. Huntington Ingalls Industries, Inc. has a 52-week low of $158.88 and a 52-week high of $293.14. The company has a market cap of $10.46 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 1.62 and a beta of 0.33.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The aerospace company reported $3.86 earnings per share for the quarter, beating analysts' consensus estimates of $3.23 by $0.63. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.94 billion. Huntington Ingalls Industries had a net margin of 4.54% and a return on equity of 11.34%. Huntington Ingalls Industries's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $4.38 EPS. On average, sell-side analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, August 29th. Huntington Ingalls Industries's payout ratio is presently 40.42%.

Huntington Ingalls Industries Company Profile

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.