Meeder Advisory Services Inc. purchased a new position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,471 shares of the aerospace company's stock, valued at approximately $972,000.
Several other large investors also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new stake in Huntington Ingalls Industries during the 2nd quarter valued at $25,000. Rakuten Securities Inc. lifted its position in shares of Huntington Ingalls Industries by 140.0% during the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock worth $26,000 after acquiring an additional 63 shares in the last quarter. Bayban bought a new position in shares of Huntington Ingalls Industries in the first quarter worth $27,000. NBC Securities Inc. boosted its holdings in shares of Huntington Ingalls Industries by 87.2% in the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company's stock worth $30,000 after acquiring an additional 41 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Huntington Ingalls Industries by 363.3% in 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 in the last quarter. Hedge funds and other institutional investors own 90.46% of the company's stock.
Insider Activity
In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president owned 8,391 shares in the company, valued at approximately $2,681,595.78. This trade represents a 29.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Christopher D. Kastner sold 13,070 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $324.92, for a total value of $4,246,704.40. Following the completion of the sale, the chief executive officer directly owned 11,224 shares of the company's stock, valued at $3,646,902.08. The trade was a 53.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by company insiders.
Huntington Ingalls Industries Stock Down 1.9%
HII opened at $311.70 on Thursday. The stock has a market cap of $12.28 billion, a PE ratio of 18.58, a P/E/G ratio of 1.20 and a beta of 0.24. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51. Huntington Ingalls Industries, Inc. has a 52 week low of $262.66 and a 52 week high of $460.00. The business's fifty day simple moving average is $296.27 and its 200 day simple moving average is $349.94.
Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, topping analysts' consensus estimates of $3.79 by $1.48. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.15 billion. Huntington Ingalls Industries had a return on equity of 12.89% and a net margin of 5.01%.Huntington Ingalls Industries's quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.86 EPS. As a group, research analysts expect that Huntington Ingalls Industries, Inc. will post 18.35 earnings per share for the current fiscal year.
Huntington Ingalls Industries Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, August 28th. Huntington Ingalls Industries's dividend payout ratio is currently 32.90%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Weiss Ratings lowered Huntington Ingalls Industries from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday. Wolfe Research upgraded Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 target price for the company in a research note on Friday, July 31st. TD Cowen reduced their target price on Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating for the company in a report on Monday, July 13th. Wells Fargo & Company upped their price target on 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. Finally, Citigroup increased their price target on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Huntington Ingalls Industries has a consensus rating of "Moderate Buy" and an average target price of $378.88.
Get Our Latest Research Report on Huntington Ingalls Industries
About Huntington Ingalls Industries
(
Free Report)
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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