Insider Selling: Huntington Ingalls Industries (NYSE:HII) CEO Sells $4,246,704.40 in Stock

Huntington Ingalls Industries, Inc. (NYSE:HIIGet Free Report) CEO Christopher Kastner sold 13,070 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 11,224 shares of the company’s stock, valued at approximately $3,646,902.08. This trade represents a 53.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Huntington Ingalls Industries Stock Down 0.2%

Shares of NYSE HII opened at $326.04 on Friday. The firm’s 50-day simple moving average is $294.17 and its 200 day simple moving average is $352.84. The company has a market cap of $12.85 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 1.26 and a beta of 0.24. The company has a quick ratio of 1.14, a current ratio of 1.23 and a debt-to-equity ratio of 0.51. Huntington Ingalls Industries, Inc. has a 12-month low of $262.66 and a 12-month high of $460.00.

Huntington Ingalls Industries (NYSE:HIIGet Free Report) last posted its quarterly earnings data on Thursday, July 30th. The aerospace company reported $5.27 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the company posted $3.86 EPS. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, research analysts expect that Huntington Ingalls Industries, Inc. will post 18.04 earnings per share for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, August 28th. Huntington Ingalls Industries’s payout ratio is 32.90%.

Institutional Trading of Huntington Ingalls Industries

Hedge funds have recently modified their holdings of the company. M&T Bank Corp grew its position in shares of Huntington Ingalls Industries by 205.8% in the fourth quarter. M&T Bank Corp now owns 40,031 shares of the aerospace company’s stock valued at $13,613,000 after purchasing an additional 26,940 shares during the last quarter. Chase Investment Counsel Corp bought a new position in shares of Huntington Ingalls Industries during the fourth quarter worth approximately $4,634,000. Builder Investment Group Inc. ADV acquired a new stake in Huntington Ingalls Industries during the 4th quarter worth approximately $6,815,000. Rothschild Investment LLC lifted its holdings in Huntington Ingalls Industries by 478.1% during the 4th quarter. Rothschild Investment LLC now owns 5,295 shares of the aerospace company’s stock worth $1,801,000 after purchasing an additional 4,379 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Huntington Ingalls Industries by 71.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 365,760 shares of the aerospace company’s stock valued at $124,384,000 after purchasing an additional 152,624 shares during the period. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on HII shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Huntington Ingalls Industries in a research report on Monday, August 3rd. 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 note on Friday, July 31st. Wall Street Zen cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Monday, May 18th. 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 research report on Friday, July 31st. Finally, Wells Fargo & Company boosted 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. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $378.88.

Read Our Latest Report on HII

About Huntington Ingalls Industries

(Get 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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