Meeder Asset Management Inc. Buys Shares of 36,498 Huntington Ingalls Industries, Inc. $HII

Key Points

• Meeder Asset Management initiated a position in Huntington Ingalls Industries by purchasing 36,498 shares worth approximately $10.2 million. Institutional investors collectively own 90.46% of HII’s outstanding stock.
• HII reported stronger-than-expected quarterly results, with earnings of $5.27 per share and revenue of $3.42 billion, up 10.9% year over year. The company also declared a $1.38 quarterly dividend, equivalent to a 1.7% annualized yield.
• Shares opened at $318.46 after declining 2.8%, while analyst sentiment remained a Moderate Buy with a consensus price target of $378.88. Recent insider activity included stock sales by the CEO and a vice president.

Meeder Asset Management Inc. purchased a new stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 36,498 shares of the aerospace company's stock, valued at approximately $10,215,000. Meeder Asset Management Inc. owned approximately 0.09% of Huntington Ingalls Industries as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Personal CFO Solutions LLC increased its holdings in Huntington Ingalls Industries by 3.7% during the first quarter. Personal CFO Solutions LLC now owns 775 shares of the aerospace company's stock valued at $294,000 after buying an additional 28 shares during the period. TriaGen Wealth Management LLC lifted its holdings in Huntington Ingalls Industries by 1.6% during the fourth quarter. TriaGen Wealth Management LLC now owns 1,971 shares of the aerospace company's stock worth $670,000 after buying an additional 31 shares during the period. Intrust Bank NA boosted its position in Huntington Ingalls Industries by 4.5% during the 4th quarter. Intrust Bank NA now owns 821 shares of the aerospace company's stock valued at $279,000 after acquiring an additional 35 shares in the last quarter. Oakworth Capital Inc. boosted its position in Huntington Ingalls Industries by 1.7% during the 4th quarter. Oakworth Capital Inc. now owns 2,205 shares of the aerospace company's stock valued at $750,000 after acquiring an additional 36 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of Huntington Ingalls Industries by 2.5% in the 1st quarter. Whittier Trust Co. now owns 1,532 shares of the aerospace company's stock valued at $625,000 after acquiring an additional 38 shares during the period. 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 business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $319.58, for a total transaction of $1,118,530.00. Following the sale, the vice president owned 8,391 shares in the company, valued at approximately $2,681,595.78. The trade was a 29.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 completion of the transaction, the chief executive officer directly owned 11,224 shares in the company, valued at $3,646,902.08. This represents a 53.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is currently owned by insiders.

Huntington Ingalls Industries Stock Down 2.8%

HII stock opened at $318.46 on Tuesday. 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 stock has a market capitalization of $12.55 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.25 and a beta of 0.24. The firm has a 50 day moving average of $295.40 and a 200 day moving average of $351.51.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the company earned $3.86 earnings per share. The business's quarterly revenue was up 10.9% compared to the same quarter last year. Sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 18.19 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be given a dividend of $1.38 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. Huntington Ingalls Industries's payout ratio is currently 32.90%.

Analyst Ratings Changes

Several research firms have recently commented on HII. Wells Fargo & Company boosted their price target on Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 4th. TD Cowen dropped their price objective on Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Wall Street Zen lowered Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research note on Monday, May 18th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Huntington Ingalls Industries in a report on Monday, August 3rd. Finally, Citigroup increased their price target on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Huntington Ingalls Industries currently has an average rating of "Moderate Buy" and a consensus target price of $378.88.

Huntington Ingalls Industries Company 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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