State Street Corp Buys 227,439 Shares of Huntington Ingalls Industries, Inc. $HII

Key Points

• State Street increased its Huntington Ingalls Industries stake by 8.4% in the second quarter, buying 227,439 shares to own 2.92 million shares worth approximately $818 million, or 7.42% of HII. Institutional investors collectively own 90.46% of the company.
• Analyst sentiment is moderately positive, with five Buy and five Hold ratings, an average target price of $367.12, and recent target increases from Wolfe Research and Citigroup.
• HII’s latest quarterly results exceeded expectations, reporting $5.27 in earnings per share and $3.42 billion in revenue, while the company maintains a quarterly dividend of $1.38, equivalent to a 2.0% yield.

State Street Corp increased its stake in Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,922,717 shares of the aerospace company's stock after purchasing an additional 227,439 shares during the period. State Street Corp owned approximately 7.42% of Huntington Ingalls Industries worth $818,039,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in Huntington Ingalls Industries by 6.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,971 shares of the aerospace company's stock valued at $6,429,000 after buying an additional 1,341 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Huntington Ingalls Industries by 37.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,592 shares of the aerospace company's stock worth $4,924,000 after acquiring an additional 4,748 shares during the last quarter. Engineers Gate Manager LP boosted its position in Huntington Ingalls Industries by 589.9% during the 2nd quarter. Engineers Gate Manager LP now owns 18,144 shares of the aerospace company's stock worth $5,078,000 after acquiring an additional 15,514 shares during the last quarter. Maven Securities LTD bought a new position in shares of Huntington Ingalls Industries during the 2nd quarter worth approximately $7,412,000. Finally, Baird Financial Group Inc. grew its stake in shares of Huntington Ingalls Industries by 37.4% during the 2nd quarter. Baird Financial Group Inc. now owns 7,154 shares of the aerospace company's stock worth $2,002,000 after acquiring an additional 1,949 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Analyst Ratings Changes

HII has been the subject of a number of analyst reports. Wolfe Research raised shares of Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 target price for the company in a research report on Friday, July 31st. Sanford C. Bernstein reduced their price objective on shares of Huntington Ingalls Industries from $341.00 to $327.00 and set a "market perform" rating for the company in a research note on Wednesday. Weiss Ratings raised Huntington Ingalls Industries from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, August 31st. Wells Fargo & Company upped their target price on Huntington Ingalls Industries from $325.00 to $340.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 4th. Finally, Citigroup increased their price target on Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $367.12.

Huntington Ingalls Industries Price Performance

NYSE:HII opened at $269.67 on Thursday. Huntington Ingalls Industries, Inc. has a 12-month low of $263.62 and a 12-month high of $460.00. The firm has a market capitalization of $10.62 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 1.02 and a beta of 0.23. The stock's 50 day moving average price is $295.74 and its two-hundred day moving average price is $325.74. 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 (NYSE:HII - Get Free Report) last posted its earnings results on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the previous year, the firm earned $3.86 EPS. The firm's revenue was up 10.9% compared to the same quarter last year. On average, analysts anticipate that Huntington Ingalls Industries, Inc. will post 18.47 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were issued a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 28th. Huntington Ingalls Industries's payout ratio is currently 32.90%.

Insider Activity at Huntington Ingalls Industries

In other news, CEO Christopher Kastner sold 13,070 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $324.92, for a total value of $4,246,704.40. Following the transaction, the chief executive officer directly owned 11,224 shares of the company's stock, valued at $3,646,902.08. This represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is currently owned by corporate insiders.

Huntington Ingalls Industries Profile

Huntington Ingalls Industries, Inc NYSE: HII is a U.S. defense company focused on designing, building, modernizing and maintaining military ships and providing technology services to government customers. It is the largest military shipbuilding company in the United States and one of the few companies capable of designing and constructing nuclear-powered aircraft carriers and submarines.

HII operates through three primary businesses: Newport News Shipbuilding, Ingalls Shipbuilding and Mission Technologies.

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