Bank of America Corp DE Decreases Stock Position in Huntington Ingalls Industries, Inc. (NYSE:HII)

Bank of America Corp DE cut its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII) by 12.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 446,024 shares of the aerospace company’s stock after selling 62,065 shares during the quarter. Bank of America Corp DE owned about 1.14% of Huntington Ingalls Industries worth $84,285,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of Huntington Ingalls Industries by 54.1% in the third quarter. Barclays PLC now owns 137,004 shares of the aerospace company’s stock valued at $36,221,000 after purchasing an additional 48,113 shares during the period. Tidal Investments LLC increased its holdings in shares of Huntington Ingalls Industries by 17.8% in the third quarter. Tidal Investments LLC now owns 2,040 shares of the aerospace company’s stock valued at $539,000 after purchasing an additional 308 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Huntington Ingalls Industries by 7.4% in the third quarter. Principal Financial Group Inc. now owns 139,248 shares of the aerospace company’s stock valued at $36,812,000 after purchasing an additional 9,634 shares during the period. Czech National Bank increased its holdings in shares of Huntington Ingalls Industries by 6.2% in the fourth quarter. Czech National Bank now owns 8,484 shares of the aerospace company’s stock valued at $1,603,000 after purchasing an additional 496 shares during the period. Finally, Capital Investment Advisors LLC increased its holdings in shares of Huntington Ingalls Industries by 10.7% in the fourth quarter. Capital Investment Advisors LLC now owns 8,006 shares of the aerospace company’s stock valued at $1,513,000 after purchasing an additional 772 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Ingalls Industries

In other news, Director Thomas C. Schievelbein bought 2,120 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $164.82 per share, for a total transaction of $349,418.40. Following the completion of the transaction, the director now directly owns 7,967 shares in the company, valued at $1,313,120.94. The trade was a 36.26% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Nicolas G. Schuck sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $189.56, for a total value of $142,170.00. Following the completion of the transaction, the chief accounting officer now owns 2,884 shares in the company, valued at approximately $546,691.04. This trade represents a 20.64% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,010 shares of company stock valued at $899,510. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HII. The Goldman Sachs Group increased their price objective on Huntington Ingalls Industries from $236.00 to $265.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Barclays raised their target price on Huntington Ingalls Industries from $200.00 to $235.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $238.44.

Huntington Ingalls Industries Stock Down 0.6%

Shares of HII opened at $231.61 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.01 and a debt-to-equity ratio of 0.58. Huntington Ingalls Industries, Inc. has a 12 month low of $158.88 and a 12 month high of $285.81. The stock’s 50 day moving average is $209.68 and its two-hundred day moving average is $198.33. The firm has a market cap of $9.09 billion, a P/E ratio of 16.59, a PEG ratio of 1.15 and a beta of 0.31.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Thursday, May 1st. The aerospace company reported $3.79 EPS for the quarter, beating the consensus estimate of $2.90 by $0.89. Huntington Ingalls Industries had a return on equity of 12.81% and a net margin of 4.77%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the company earned $3.87 earnings per share. Huntington Ingalls Industries’s quarterly revenue was down 2.5% compared to the same quarter last year. Analysts predict that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current fiscal year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.33%. The ex-dividend date is Friday, May 30th. Huntington Ingalls Industries’s payout ratio is currently 38.90%.

Huntington Ingalls Industries Profile

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.