JPMorgan Chase & Co. decreased its position in shares of Huntington Ingalls Industries Inc (NYSE:HII) by 16.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 413,422 shares of the aerospace company’s stock after selling 78,633 shares during the quarter. JPMorgan Chase & Co. owned about 0.91% of Huntington Ingalls Industries worth $92,219,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Huntington Ingalls Industries by 2.7% during the second quarter. BlackRock Inc. now owns 4,572,209 shares of the aerospace company’s stock valued at $851,165,000 after acquiring an additional 120,171 shares in the last quarter. State Street Corp grew its holdings in Huntington Ingalls Industries by 0.4% during the second quarter. State Street Corp now owns 2,921,169 shares of the aerospace company’s stock worth $543,803,000 after buying an additional 12,014 shares in the last quarter. FMR LLC grew its holdings in Huntington Ingalls Industries by 4.1% during the second quarter. FMR LLC now owns 2,881,190 shares of the aerospace company’s stock worth $536,363,000 after buying an additional 114,098 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Huntington Ingalls Industries by 6.1% during the second quarter. Goldman Sachs Group Inc. now owns 928,427 shares of the aerospace company’s stock worth $172,836,000 after buying an additional 53,288 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Huntington Ingalls Industries by 6.9% during the second quarter. Wells Fargo & Company MN now owns 732,828 shares of the aerospace company’s stock worth $136,423,000 after buying an additional 47,379 shares in the last quarter. Hedge funds and other institutional investors own 84.23% of the company’s stock.
Several equities research analysts recently issued reports on HII shares. Zacks Investment Research downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 24th. ValuEngine upgraded Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Citigroup reissued a “neutral” rating and issued a $233.00 price objective (up previously from $224.00) on shares of Huntington Ingalls Industries in a research report on Monday, October 9th. Credit Suisse Group reissued a “neutral” rating and issued a $241.00 price objective (up previously from $211.00) on shares of Huntington Ingalls Industries in a research report on Thursday, November 9th. Finally, Deutsche Bank reissued a “buy” rating and issued a $240.00 price objective (up previously from $230.00) on shares of Huntington Ingalls Industries in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $222.57.
Shares of Huntington Ingalls Industries Inc (HII) traded down $1.68 during midday trading on Tuesday, hitting $234.31. The stock had a trading volume of 210,400 shares, compared to its average volume of 328,635. Huntington Ingalls Industries Inc has a 1 year low of $174.07 and a 1 year high of $253.44. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.52 and a quick ratio of 1.38. The stock has a market cap of $10,681.21, a PE ratio of 19.63, a PEG ratio of 1.31 and a beta of 1.17.
Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings results on Wednesday, November 8th. The aerospace company reported $3.27 EPS for the quarter, beating analysts’ consensus estimates of $2.78 by $0.49. Huntington Ingalls Industries had a return on equity of 33.37% and a net margin of 8.31%. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm earned $2.27 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. research analysts forecast that Huntington Ingalls Industries Inc will post 12.01 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, November 22nd. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $0.60. Huntington Ingalls Industries’s dividend payout ratio is currently 21.75%.
Huntington Ingalls Industries declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the aerospace company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Philip M. Bilden acquired 2,200 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were bought at an average cost of $234.11 per share, for a total transaction of $515,042.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP D R. Wyatt sold 800 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $240.33, for a total value of $192,264.00. Following the sale, the vice president now owns 19,065 shares in the company, valued at $4,581,891.45. The disclosure for this sale can be found here. 2.22% of the stock is owned by corporate insiders.
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About Huntington Ingalls Industries
Huntington Ingalls Industries, Inc is a military shipbuilding company and a provider of professional services to partners in government and industry. The Company’s business consists of the design, construction, repair and maintenance of nuclear-powered ships and non-nuclear ships for the United States Navy and coastal defense surface ships for the United States Coast Guard, as well as the refueling and overhaul and inactivation of nuclear-powered ships for the United States Navy.
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