The Manufacturers Life Insurance Company Has $8.22 Million Stock Position in Huntington Ingalls Industries, Inc. $HII

Key Points

• The Manufacturers Life Insurance Company reduced its Huntington Ingalls Industries stake by 23.9% in the first quarter, selling 6,800 shares and retaining 21,630 shares valued at approximately $8.22 million. Institutional investors collectively own 90.46% of HII.
• HII reported quarterly earnings of $5.27 per share, exceeding estimates of $3.79, while revenue rose 10.9% year over year to $3.42 billion. The company also declared a quarterly dividend of $1.38 per share, representing a 1.7% annualized yield.
• Analyst sentiment remains mixed, with five Buy ratings and six Holds; the stock has a consensus rating of Hold and an average price target of $378.88, compared with a recent price of $323.14.

The Manufacturers Life Insurance Company lessened its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 23.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,630 shares of the aerospace company's stock after selling 6,800 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Huntington Ingalls Industries worth $8,217,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Bayban bought a new position in Huntington Ingalls Industries during the 1st quarter worth $27,000. NBC Securities Inc. grew its position in shares of Huntington Ingalls Industries by 87.2% in the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company's stock valued at $30,000 after buying an additional 41 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Huntington Ingalls Industries in the 1st quarter valued at about $36,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Huntington Ingalls Industries in the second quarter valued at about $25,000. Finally, Rakuten Securities Inc. raised its position in shares of Huntington Ingalls Industries by 140.0% during the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company's stock worth $26,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 90.46% of the company's stock.

Huntington Ingalls Industries Stock Performance

Shares of HII opened at $323.14 on Wednesday. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.39 and a beta of 0.24. Huntington Ingalls Industries, Inc. has a 12 month low of $259.00 and a 12 month high of $460.00. The company has a current ratio of 1.23, a quick ratio of 1.14 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $291.07 and a 200 day moving average of $357.59.

Huntington Ingalls Industries (NYSE:HII - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, topping the consensus estimate of $3.79 by $1.48. The business had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.15 billion. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The company's revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.86 earnings per share. As a group, sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 17.31 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, August 28th. Huntington Ingalls Industries's dividend payout ratio is 32.90%.

Insider Transactions at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of the firm's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $319.58, for a total value of $1,118,530.00. Following the completion of the transaction, the vice president directly owned 8,391 shares of the company's stock, valued at $2,681,595.78. This trade represents a 29.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

HII has been the topic of a number of recent analyst reports. Citigroup lifted their price objective on Huntington Ingalls Industries from $349.00 to $379.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Wolfe Research upgraded shares of Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 price target for the company in a report on Friday, July 31st. TD Cowen dropped their price target on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, July 13th. Wells Fargo & Company upped their price objective on shares of Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Weiss Ratings downgraded Huntington Ingalls Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $378.88.

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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