Wealthfront Advisers LLC Acquires New Position in Huntington Ingalls Industries, Inc. $HII

Wealthfront Advisers LLC acquired a new stake in Huntington Ingalls Industries, Inc. (NYSE:HIIFree Report) during the 2nd quarter, HoldingsChannel reports. The firm acquired 1,713 shares of the aerospace company’s stock, valued at approximately $479,000.

A number of other institutional investors also recently modified their holdings of HII. Geneos Wealth Management Inc. boosted its position in Huntington Ingalls Industries by 40.1% during the first quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock valued at $42,000 after purchasing an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Huntington Ingalls Industries by 329.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company’s stock worth $88,000 after purchasing an additional 280 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Huntington Ingalls Industries by 432.1% during the 2nd quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company’s stock worth $9,210,000 after purchasing an additional 30,975 shares in the last quarter. Cresset Asset Management LLC raised its stake in shares of Huntington Ingalls Industries by 23.0% during the 2nd quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company’s stock worth $381,000 after purchasing an additional 294 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of Huntington Ingalls Industries during the 2nd quarter valued at about $398,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $319.58, for a total value of $1,118,530.00. Following the sale, the vice president directly owned 8,391 shares of the company’s stock, valued at approximately $2,681,595.78. This trade represents a 29.43% 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, CEO Christopher D. Kastner sold 13,070 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

HII has been the topic of a number of research reports. Wells Fargo & Company increased their price objective 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. TD Cowen decreased their target price on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Wall Street Zen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Wolfe Research upgraded shares of Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price target on the stock in a report on Friday, July 31st. Finally, Citigroup lifted their price objective on shares of Huntington Ingalls Industries from $349.00 to $379.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $378.88.

View Our Latest Report on Huntington Ingalls Industries

Huntington Ingalls Industries Stock Down 0.9%

HII opened at $298.58 on Friday. The firm has a market cap of $11.76 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.13 and a beta of 0.24. 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 business has a 50 day moving average price of $296.32 and a 200 day moving average price of $348.75. Huntington Ingalls Industries, Inc. has a twelve month low of $263.62 and a twelve month high of $460.00.

Huntington Ingalls Industries (NYSE:HIIGet Free Report) last released its quarterly earnings results on Thursday, July 30th. The aerospace company reported $5.27 EPS for the quarter, beating analysts’ consensus estimates of $3.79 by $1.48. Huntington Ingalls Industries had a net margin of 5.01% and a return on equity of 12.89%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the firm posted $3.86 earnings per share. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. Research analysts forecast that Huntington Ingalls Industries, Inc. will post 18.47 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

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 $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.8%. The ex-dividend date is Friday, August 28th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 32.90%.

Huntington Ingalls Industries Profile

(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.

See Also

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Institutional Ownership by Quarter for Huntington Ingalls Industries (NYSE:HII)

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