Van ECK Associates Corp lessened its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII - Free Report) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,027,501 shares of the aerospace company's stock after selling 46,745 shares during the quarter. Van ECK Associates Corp owned about 2.61% of Huntington Ingalls Industries worth $287,587,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in HII. Personal CFO Solutions LLC increased its stake in Huntington Ingalls Industries by 3.7% in the 1st quarter. Personal CFO Solutions LLC now owns 775 shares of the aerospace company's stock worth $294,000 after acquiring an additional 28 shares during the last quarter. Intrust Bank NA raised its stake in Huntington Ingalls Industries by 4.5% during the fourth quarter. Intrust Bank NA now owns 821 shares of the aerospace company's stock valued at $279,000 after purchasing an additional 35 shares in the last quarter. Whittier Trust Co. lifted its position in Huntington Ingalls Industries by 2.5% during the first quarter. Whittier Trust Co. now owns 1,532 shares of the aerospace company's stock valued at $625,000 after purchasing an additional 38 shares during the last quarter. Ballentine Partners LLC lifted its position in Huntington Ingalls Industries by 1.9% during the fourth quarter. Ballentine Partners LLC now owns 2,098 shares of the aerospace company's stock valued at $713,000 after purchasing an additional 40 shares during the last quarter. Finally, NBC Securities Inc. grew its stake 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 worth $30,000 after buying an additional 41 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Huntington Ingalls Industries news, CEO Christopher D. Kastner sold 13,070 shares of the company's 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 in the company, valued at $3,646,902.08. This represents a 53.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.80% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts recently commented on HII shares. Wall Street Zen downgraded shares of Huntington Ingalls Industries from a "buy" rating to a "hold" rating in a report on Monday, May 18th. Sanford C. Bernstein set a $341.00 price objective on Huntington Ingalls Industries in a research report on Tuesday. Wolfe Research raised Huntington Ingalls Industries from a "peer perform" rating to an "outperform" rating and set a $364.00 price objective for the company in a research note on Friday, July 31st. Weiss Ratings downgraded Huntington Ingalls Industries from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Finally, TD Cowen decreased their price target on Huntington Ingalls Industries from $420.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $368.88.
View Our Latest Report on HII
Huntington Ingalls Industries Price Performance
Shares of HII stock opened at $294.09 on Friday. The stock has a 50 day moving average price of $296.49 and a 200 day moving average price of $344.86. Huntington Ingalls Industries, Inc. has a 52-week low of $263.62 and a 52-week high of $460.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.14 and a current ratio of 1.23. The firm has a market capitalization of $11.59 billion, a P/E ratio of 17.53, a P/E/G ratio of 1.12 and a beta of 0.24.
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, beating the consensus estimate 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 company had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company posted $3.86 EPS. Huntington Ingalls Industries's quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts predict 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 will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 28th. Huntington Ingalls Industries's payout ratio is 32.90%.
Huntington Ingalls Industries Company Profile
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Free Report)
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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