Pinnbrook Capital Management LP Buys New Position in Huntington Ingalls Industries, Inc. $HII

Key Points

• Pinnbrook Capital Management opened a new position in Huntington Ingalls Industries, buying 8,599 shares valued at about $2.9 million in the fourth quarter. Institutional ownership remains high, with hedge funds and other investors holding most of the stock.
• Wall Street sentiment is mixed: several analysts adjusted targets, but the stock’s overall consensus remains a “Hold” with an average price target of $388.50. Recent calls included both upgrades and downgrades.
• Huntington Ingalls posted solid quarterly results, with EPS of $3.79 beating estimates and revenue of $3.10 billion topping forecasts. The company also declared a quarterly dividend of $1.38 per share, payable June 12.

Pinnbrook Capital Management LP bought a new stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,599 shares of the aerospace company's stock, valued at approximately $2,924,000.

Several other hedge funds also recently added to or reduced their stakes in HII. NBC Securities Inc. increased 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 valued at $30,000 after purchasing an additional 41 shares during the period. CYBER HORNET ETFs LLC acquired a new position in shares of Huntington Ingalls Industries in the second quarter valued at about $25,000. Rakuten Securities Inc. increased its holdings in shares of Huntington Ingalls Industries by 140.0% in the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 63 shares during the period. Community Bank N.A. acquired a new position in shares of Huntington Ingalls Industries in the third quarter valued at about $35,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Huntington Ingalls Industries in the fourth quarter valued at about $42,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup cut their price objective on Huntington Ingalls Industries from $441.00 to $405.00 and set a "buy" rating on the stock in a report on Monday. Weiss Ratings lowered Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Bank of America raised Huntington Ingalls Industries from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $300.00 to $400.00 in a report on Thursday, February 12th. Wells Fargo & Company assumed coverage on Huntington Ingalls Industries in a report on Wednesday, April 1st. They issued an "equal weight" rating and a $400.00 price objective on the stock. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $421.00 price objective on shares of Huntington Ingalls Industries in a report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Huntington Ingalls Industries presently has an average rating of "Hold" and an average target price of $388.50.

Insider Buying and Selling

In other Huntington Ingalls Industries news, EVP Eric D. Chewning sold 1,700 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total transaction of $736,848.00. Following the transaction, the executive vice president owned 1,949 shares in the company, valued at approximately $844,774.56. This represents a 46.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Chad N. Boudreaux sold 4,400 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $422.45, for a total value of $1,858,780.00. Following the transaction, the vice president owned 20,360 shares in the company, valued at $8,601,082. This represents a 17.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company's stock.

Huntington Ingalls Industries Stock Performance

Shares of HII stock opened at $317.28 on Friday. The company has a market capitalization of $12.50 billion, a P/E ratio of 20.64, a P/E/G ratio of 1.36 and a beta of 0.29. The business's 50 day moving average is $375.41 and its two-hundred day moving average is $372.34. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. Huntington Ingalls Industries, Inc. has a 12-month low of $215.04 and a 12-month high of $460.00.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.70 by $0.09. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.Huntington Ingalls Industries's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.79 earnings per share. Analysts expect that Huntington Ingalls Industries, Inc. will post 17.29 EPS for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a dividend of $1.38 per share. The ex-dividend date is Friday, May 29th. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. Huntington Ingalls Industries's dividend payout ratio is currently 35.91%.

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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