Mitsubishi UFJ Asset Management Co. Ltd. Has $8.22 Million Stock Position in Huntington Ingalls Industries, Inc. (NYSE:HII)

Key Points

• Mitsubishi UFJ Asset Management reduced its stake in Huntington Ingalls Industries by 39.4%, selling 26,195 shares and retaining a total of 40,308 shares valued at approximately $8.22 million.
• A variety of institutional investors have modified their holdings in HII, with notable increases from firms like 1834 Investment Advisors, which raised its stake by 28.3%.
• Huntington Ingalls Industries announced a quarterly dividend of $1.35 per share, translating to an annual yield of 2.0%, with the dividend payout ratio currently at 40.42%.

Mitsubishi UFJ Asset Management Co. Ltd. cut its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 39.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,308 shares of the aerospace company's stock after selling 26,195 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.10% of Huntington Ingalls Industries worth $8,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Sentry Investment Management LLC acquired a new stake in shares of Huntington Ingalls Industries in the first quarter valued at about $26,000. HM Payson & Co. grew its stake in Huntington Ingalls Industries by 71.9% during the 1st quarter. HM Payson & Co. now owns 153 shares of the aerospace company's stock valued at $31,000 after purchasing an additional 64 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in Huntington Ingalls Industries during the 1st quarter valued at approximately $31,000. Raiffeisen Bank International AG acquired a new stake in Huntington Ingalls Industries during the 4th quarter valued at approximately $36,000. Finally, Grove Bank & Trust acquired a new stake in Huntington Ingalls Industries during the 1st quarter valued at approximately $61,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Chad N. Boudreaux sold 1,965 shares of Huntington Ingalls Industries stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $228.94, for a total transaction of $449,867.10. Following the transaction, the vice president owned 21,228 shares in the company, valued at approximately $4,859,938.32. The trade was a 8.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.72% of the company's stock.

Huntington Ingalls Industries Stock Performance

Shares of NYSE HII traded down $2.13 during mid-day trading on Thursday, hitting $267.30. The company had a trading volume of 226,817 shares, compared to its average volume of 641,032. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 1.63 and a beta of 0.33. Huntington Ingalls Industries, Inc. has a 12 month low of $158.88 and a 12 month high of $293.14. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.08 and a quick ratio of 1.00. The firm's 50 day simple moving average is $249.85 and its two-hundred day simple moving average is $219.55.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its earnings results on Thursday, July 31st. The aerospace company reported $3.86 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.63. Huntington Ingalls Industries had a return on equity of 11.34% and a net margin of 4.54%. The firm had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the business earned $4.38 EPS. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities research analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 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 12th. Stockholders of record on Friday, August 29th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, August 29th. This represents a $5.40 annualized dividend and a dividend yield of 2.0%. Huntington Ingalls Industries's dividend payout ratio (DPR) is 40.42%.

Analyst Upgrades and Downgrades

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

About Huntington Ingalls Industries

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.