Resona Asset Management Co. Ltd. Reduces Stock Position in Huntington Ingalls Industries, Inc. $HII

Key Points

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Resona Asset Management Co. Ltd. trimmed its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 96.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 374 shares of the aerospace company's stock after selling 10,995 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Huntington Ingalls Industries were worth $77,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HII. Patriot Financial Group Insurance Agency LLC lifted its stake in Huntington Ingalls Industries by 2.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 2,124 shares of the aerospace company's stock worth $433,000 after purchasing an additional 51 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Huntington Ingalls Industries by 12.2% in the first quarter. Farther Finance Advisors LLC now owns 514 shares of the aerospace company's stock valued at $104,000 after acquiring an additional 56 shares in the last quarter. HM Payson & Co. raised its stake in shares of Huntington Ingalls Industries by 71.9% in the first quarter. HM Payson & Co. now owns 153 shares of the aerospace company's stock valued at $31,000 after acquiring an additional 64 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in Huntington Ingalls Industries by 8.6% in the first quarter. Capital Advisors Ltd. LLC now owns 820 shares of the aerospace company's stock valued at $167,000 after buying an additional 65 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in Huntington Ingalls Industries by 21.5% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 379 shares of the aerospace company's stock valued at $78,000 after buying an additional 67 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Chad N. Boudreaux sold 1,965 shares of Huntington Ingalls Industries stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $228.94, for a total value of $449,867.10. Following the sale, the vice president owned 21,228 shares of the company's stock, valued at approximately $4,859,938.32. The trade was a 8.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.86% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Huntington Ingalls Industries from $236.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen upgraded Huntington Ingalls Industries from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. 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, August 13th. Barclays lifted their target price on Huntington Ingalls Industries from $235.00 to $295.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Finally, TD Cowen upgraded Huntington Ingalls Industries from a "hold" rating to a "buy" rating and lifted their target price for the stock from $250.00 to $300.00 in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $267.00.

Huntington Ingalls Industries Stock Performance

Shares of HII stock opened at $267.79 on Tuesday. The stock has a market capitalization of $10.51 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.57 and a beta of 0.33. Huntington Ingalls Industries, Inc. has a 52-week low of $158.88 and a 52-week high of $293.14. The stock's 50-day moving average price is $252.29 and its 200 day moving average price is $221.33. The company has a quick ratio of 1.00, a current ratio of 1.08 and a debt-to-equity ratio of 0.55.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The aerospace company reported $3.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.63. The firm had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $2.94 billion. Huntington Ingalls Industries had a return on equity of 11.34% and a net margin of 4.54%. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.38 EPS. As a group, equities research analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current 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 given a $1.35 dividend. This represents a $5.40 annualized dividend and a 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.

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