ING Groep NV grew its holdings in shares of Huntington Ingalls Industries Inc (NYSE:HII) by 23.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,852 shares of the aerospace company’s stock after acquiring an additional 1,291 shares during the quarter. ING Groep NV’s holdings in Huntington Ingalls Industries were worth $1,615,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of HII. Cerebellum GP LLC acquired a new position in shares of Huntington Ingalls Industries in the fourth quarter valued at approximately $100,000. Howe & Rusling Inc. increased its stake in shares of Huntington Ingalls Industries by 4,844.4% in the third quarter. Howe & Rusling Inc. now owns 445 shares of the aerospace company’s stock valued at $101,000 after buying an additional 436 shares during the period. Welch Group LLC acquired a new position in shares of Huntington Ingalls Industries in the fourth quarter valued at approximately $101,000. Toronto Dominion Bank increased its stake in shares of Huntington Ingalls Industries by 6.8% in the second quarter. Toronto Dominion Bank now owns 565 shares of the aerospace company’s stock valued at $105,000 after buying an additional 36 shares during the period. Finally, HL Financial Services LLC acquired a new position in shares of Huntington Ingalls Industries in the fourth quarter valued at approximately $212,000. 82.45% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Cowen raised Huntington Ingalls Industries from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $252.00 to $275.00 in a research note on Thursday, February 1st. Zacks Investment Research raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating and set a $282.00 price objective for the company in a research note on Friday, November 10th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $241.00 price objective (up previously from $211.00) on shares of Huntington Ingalls Industries in a research note on Thursday, November 9th. Finally, ValuEngine raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $227.43.
In related news, Director Philip M. Bilden bought 2,200 shares of Huntington Ingalls Industries stock in a transaction that occurred on Friday, November 24th. The shares were acquired at an average cost of $234.11 per share, for a total transaction of $515,042.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.22% of the company’s stock.
Huntington Ingalls Industries Inc (NYSE HII) opened at $230.31 on Monday. Huntington Ingalls Industries Inc has a 52 week low of $183.42 and a 52 week high of $253.44. The stock has a market capitalization of $10,424.12, a P/E ratio of 19.16, a PEG ratio of 1.15 and a beta of 1.15. The company has a quick ratio of 1.38, a current ratio of 1.52 and a debt-to-equity ratio of 0.75.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 23rd will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.25%. The ex-dividend date is Thursday, February 22nd. Huntington Ingalls Industries’s payout ratio is presently 21.75%.
Huntington Ingalls Industries declared that its board has initiated a share repurchase program on Tuesday, November 7th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the aerospace company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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Huntington Ingalls Industries Profile
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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