Pacer Advisors Inc. Sells 3,206 Shares of Huntington Ingalls Industries, Inc. (NYSE:HII)

Key Points

• Pacer Advisors Inc. has reduced its holdings in Huntington Ingalls Industries by 57.4% during the first quarter, owning 2,384 shares valued at $486,000.
• The company recently reported $3.86 earnings per share for the last quarter, exceeding analysts' expectations, with revenue of $3.08 billion.
• Huntington Ingalls Industries announced a quarterly dividend of $1.35 per share, reflecting a 1.9% yield and a payout ratio of 38.90%.

Pacer Advisors Inc. cut its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 57.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,384 shares of the aerospace company's stock after selling 3,206 shares during the quarter. Pacer Advisors Inc.'s holdings in Huntington Ingalls Industries were worth $486,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HII. Assetmark Inc. boosted its stake in shares of Huntington Ingalls Industries by 40.0% during the 1st quarter. Assetmark Inc. now owns 10,921 shares of the aerospace company's stock valued at $2,228,000 after buying an additional 3,119 shares during the period. Cetera Investment Advisers boosted its position in Huntington Ingalls Industries by 18.3% during the first quarter. Cetera Investment Advisers now owns 38,117 shares of the aerospace company's stock valued at $7,777,000 after purchasing an additional 5,888 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in Huntington Ingalls Industries by 6.3% in the first quarter. Avantax Advisory Services Inc. now owns 8,364 shares of the aerospace company's stock valued at $1,707,000 after purchasing an additional 499 shares in the last quarter. Carnegie Investment Counsel increased its position in Huntington Ingalls Industries by 1,266.3% in the 1st quarter. Carnegie Investment Counsel now owns 54,787 shares of the aerospace company's stock worth $11,105,000 after purchasing an additional 50,777 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Huntington Ingalls Industries by 27.3% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 534,737 shares of the aerospace company's stock worth $109,108,000 after purchasing an additional 114,635 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays raised their price objective on shares of Huntington Ingalls Industries from $200.00 to $235.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Alembic Global Advisors raised shares of Huntington Ingalls Industries from a "neutral" rating to an "overweight" rating and set a $265.00 price objective on the stock in a research report on Thursday, May 15th. The Goldman Sachs Group raised their price objective on shares of Huntington Ingalls Industries from $236.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. TD Cowen raised shares of 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 report on Thursday, July 10th. Finally, Wall Street Zen upgraded Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a research note on Saturday. 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 company presently has a consensus rating of "Hold" and an average target price of $251.38.

Insider Activity at Huntington Ingalls Industries

In related news, VP Edmond E. Jr. Hughes sold 1,300 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $231.91, for a total value of $301,483.00. Following the completion of the sale, the vice president directly owned 9,581 shares in the company, valued at approximately $2,221,929.71. The trade was a 11.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anastasi D. Kelly sold 1,960 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $232.58, for a total transaction of $455,856.80. Following the transaction, the director owned 17,485 shares of the company's stock, valued at approximately $4,066,661.30. This represents a 10.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,225 shares of company stock worth $1,207,207. Company insiders own 0.72% of the company's stock.

Huntington Ingalls Industries Stock Down 3.4%

Shares of NYSE:HII traded down $9.60 during midday trading on Friday, reaching $269.26. The company had a trading volume of 763,551 shares, compared to its average volume of 471,886. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.55. The business's 50 day moving average price is $243.11 and its 200 day moving average price is $216.01. The stock has a market cap of $10.57 billion, a PE ratio of 20.15, a P/E/G ratio of 1.71 and a beta of 0.33. Huntington Ingalls Industries, Inc. has a 1-year low of $158.88 and a 1-year high of $293.14.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The aerospace company reported $3.86 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $3.08 billion during the quarter, compared to analysts' expectations of $2.94 billion. During the same quarter last year, the company posted $4.38 earnings per share. Huntington Ingalls Industries's quarterly revenue was up 3.5% on a year-over-year basis. Research analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

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

Huntington Ingalls Industries 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.