Total Wealth Planning & Management Inc. purchased a new position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII – Free Report) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,493 shares of the aerospace company’s stock, valued at approximately $848,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp boosted its holdings in Huntington Ingalls Industries by 205.8% during the fourth quarter. M&T Bank Corp now owns 40,031 shares of the aerospace company’s stock worth $13,613,000 after purchasing an additional 26,940 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Huntington Ingalls Industries by 31.2% in the third quarter. Jones Financial Companies Lllp now owns 12,560 shares of the aerospace company’s stock valued at $3,502,000 after acquiring an additional 2,990 shares during the last quarter. Chase Investment Counsel Corp purchased a new position in Huntington Ingalls Industries in the fourth quarter valued at about $4,634,000. Atlantic Union Bankshares Corp boosted its stake in Huntington Ingalls Industries by 8,712.8% in the third quarter. Atlantic Union Bankshares Corp now owns 3,437 shares of the aerospace company’s stock valued at $990,000 after acquiring an additional 3,398 shares during the last quarter. Finally, Builder Investment Group Inc. ADV purchased a new position in Huntington Ingalls Industries in the fourth quarter valued at about $6,815,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the business’s stock in a transaction that occurred 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 sale, the vice president owned 8,391 shares of the company’s stock, valued at $2,681,595.78. The trade was a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by company insiders.
Huntington Ingalls Industries Stock Performance
Huntington Ingalls Industries (NYSE:HII – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.09. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the firm posted $3.79 earnings per share. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. Sell-side analysts predict that Huntington Ingalls Industries, Inc. will post 17.32 earnings per share for the current year.
Huntington Ingalls Industries Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be given a $1.38 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $5.52 annualized dividend and a dividend yield of 1.9%. Huntington Ingalls Industries’s payout ratio is 35.91%.
Analysts Set New Price Targets
A number of research analysts have weighed in on HII shares. Wells Fargo & Company started coverage on shares of Huntington Ingalls Industries in a research note on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 target price on the stock. Bank of America upgraded shares of Huntington Ingalls Industries from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $300.00 to $400.00 in a research note on Thursday, February 12th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $421.00 target price on shares of Huntington Ingalls Industries in a research note on Wednesday, February 11th. Citigroup dropped their target price on shares of Huntington Ingalls Industries from $441.00 to $405.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Finally, Weiss Ratings cut shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $388.50.
Read Our Latest Research Report on HII
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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