Mitsubishi UFJ Asset Management Co. Ltd. Purchases New Stake in Huntington Ingalls Industries, Inc. $HII

Key Points

• Mitsubishi UFJ Asset Management acquired 52,000 shares of Huntington Ingalls Industries, worth approximately $14.6 million, giving it a 0.13% stake. Institutional investors collectively own 90.46% of HII.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $378.88, while HII shares recently traded at $302.07—down 3.1%.
• HII exceeded quarterly expectations, reporting $5.27 in EPS and $3.42 billion in revenue, up 10.9% year over year. The company also declared a quarterly dividend of $1.38 per share, representing a 1.8% annualized yield.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 52,000 shares of the aerospace company's stock, valued at approximately $14,554,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.13% of Huntington Ingalls Industries at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HII. Northwestern Mutual Wealth Management Co. increased its position in Huntington Ingalls Industries by 38,526.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company's stock worth $675,572,000 after purchasing an additional 1,981,424 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Huntington Ingalls Industries by 85.0% in the 4th quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company's stock valued at $369,186,000 after buying an additional 498,690 shares in the last quarter. Van ECK Associates Corp increased its holdings in Huntington Ingalls Industries by 32.1% in the fourth quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company's stock worth $560,004,000 after buying an additional 400,428 shares during the last quarter. Marshall Wace LLP increased its holdings in Huntington Ingalls Industries by 588.1% in the fourth quarter. Marshall Wace LLP now owns 351,879 shares of the aerospace company's stock worth $119,663,000 after buying an additional 300,740 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Huntington Ingalls Industries during the second quarter valued at approximately $75,094,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HII shares. Wall Street Zen downgraded shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a research report on Monday, May 18th. Wells Fargo & Company increased their price objective 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. TD Cowen cut their price objective on Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a research note on Monday, July 13th. 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 report on Friday, July 31st. Finally, Citigroup upped their target price on Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $378.88.

Huntington Ingalls Industries Stock Down 3.1%

Shares of HII opened at $302.07 on Friday. The stock has a market cap of $11.90 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 1.17 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 12 month low of $263.62 and a 12 month high of $460.00. The company has a 50-day moving average price of $296.30 and a two-hundred day moving average price of $349.11.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $1.48. Huntington Ingalls Industries had a return on equity of 12.89% and a net margin of 5.01%.The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the company posted $3.86 earnings per share. The business's revenue for the quarter was up 10.9% compared to the same quarter last year. Equities analysts predict that Huntington Ingalls Industries, Inc. will post 18.47 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

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 $1.38 dividend. The ex-dividend date is Friday, August 28th. This represents a $5.52 annualized dividend and a yield of 1.8%. Huntington Ingalls Industries's dividend payout ratio (DPR) is currently 32.90%.

Insider Transactions at Huntington Ingalls Industries

In other news, CEO Christopher D. Kastner sold 13,070 shares of the 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 transaction, the chief executive officer 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. Also, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $319.58, for a total value of $1,118,530.00. Following the completion of the transaction, the vice president directly owned 8,391 shares in the company, valued at $2,681,595.78. The trade was a 29.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is owned by company insiders.

Huntington Ingalls Industries 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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