The Manufacturers Life Insurance Company reduced its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII – Free Report) by 23.9% during the first quarter, Holdings Channel reports. The fund owned 21,630 shares of the aerospace company’s stock after selling 6,800 shares during the period. The Manufacturers Life Insurance Company’s holdings in Huntington Ingalls Industries were worth $8,217,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of HII. Northwestern Mutual Wealth Management Co. lifted its position in Huntington Ingalls Industries by 38,526.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company’s stock valued at $675,572,000 after purchasing an additional 1,981,424 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Huntington Ingalls Industries by 85.0% during the fourth quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company’s stock valued at $369,186,000 after purchasing an additional 498,690 shares during the period. Van ECK Associates Corp grew its holdings in shares of Huntington Ingalls Industries by 32.1% in the fourth quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company’s stock worth $560,004,000 after purchasing an additional 400,428 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Huntington Ingalls Industries by 588.1% in the fourth quarter. Marshall Wace LLP now owns 351,879 shares of the aerospace company’s stock worth $119,663,000 after buying an additional 300,740 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Huntington Ingalls Industries by 390.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 285,339 shares of the aerospace company’s stock worth $97,036,000 after buying an additional 227,126 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.
Huntington Ingalls Industries Price Performance
Shares of NYSE HII opened at $323.14 on Wednesday. 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 company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 19.26, a P/E/G ratio of 1.39 and a beta of 0.24. The company has a 50 day simple moving average of $291.07 and a two-hundred day simple moving average of $357.59. Huntington Ingalls Industries, Inc. has a fifty-two week low of $259.00 and a fifty-two week high of $460.00.
Huntington Ingalls Industries Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a dividend of $1.38 per share. The ex-dividend date is Friday, August 28th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.7%. Huntington Ingalls Industries’s dividend payout ratio is presently 32.90%.
Insiders Place Their Bets
In related news, VP Edmond E. Jr. Hughes sold 3,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president directly owned 8,391 shares of the company’s stock, valued at approximately $2,681,595.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.80% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of analysts have recently weighed in on HII shares. TD Cowen dropped 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 report on Monday, July 13th. Wall Street Zen downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Citigroup upped 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. Wolfe Research upgraded Huntington Ingalls Industries from a “peer perform” rating to an “outperform” rating and set a $364.00 price objective for the company in a report on Friday, July 31st. Finally, Wells Fargo & Company boosted their target price on Huntington Ingalls Industries from $325.00 to $340.00 and gave the company an “equal weight” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Huntington Ingalls Industries presently has a consensus rating of “Hold” and an average target price of $378.88.
Check Out Our Latest Report on HII
About Huntington Ingalls Industries
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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