Byrne Asset Management LLC Raises Holdings in Huntington Ingalls Industries, Inc. (NYSE:HII)

Byrne Asset Management LLC boosted its holdings in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,911 shares of the aerospace company’s stock after purchasing an additional 99 shares during the quarter. Byrne Asset Management LLC’s holdings in Huntington Ingalls Industries were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HII. Sentry Investment Management LLC purchased a new position in shares of Huntington Ingalls Industries in the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its stake in Huntington Ingalls Industries by 503.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 157 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 131 shares during the last quarter. Raiffeisen Bank International AG acquired a new stake in Huntington Ingalls Industries during the fourth quarter worth $36,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Huntington Ingalls Industries in the fourth quarter valued at $70,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of Huntington Ingalls Industries by 156.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 482 shares of the aerospace company’s stock valued at $91,000 after buying an additional 294 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

HII has been the subject of a number of research reports. Barclays lifted their price objective on Huntington Ingalls Industries from $200.00 to $235.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. The Goldman Sachs Group lifted their price target on Huntington Ingalls Industries from $236.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Alembic Global Advisors raised Huntington Ingalls Industries from a “neutral” rating to an “overweight” rating and set a $265.00 price target for the company in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $236.38.

Huntington Ingalls Industries Stock Up 1.5%

HII opened at $232.59 on Friday. The business has a 50 day moving average price of $223.31 and a two-hundred day moving average price of $201.87. The company has a quick ratio of 1.01, a current ratio of 1.08 and a debt-to-equity ratio of 0.58. The company has a market cap of $9.13 billion, a PE ratio of 16.66, a P/E/G ratio of 1.15 and a beta of 0.29. Huntington Ingalls Industries, Inc. has a 52 week low of $158.88 and a 52 week high of $285.81.

Huntington Ingalls Industries (NYSE:HII) last released its earnings results on Thursday, May 1st. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the firm posted $3.87 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, research analysts anticipate that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, May 30th. Huntington Ingalls Industries’s payout ratio is 38.90%.

Insiders Place Their Bets

In related news, VP Edmond E. Jr. Hughes sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $231.91, for a total value of $301,483.00. Following the sale, the vice president now owns 9,581 shares in the company, valued at $2,221,929.71. This represents a 11.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anastasi D. Kelly sold 1,960 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $232.58, for a total value of $455,856.80. Following the completion of the sale, the director now owns 17,485 shares in the company, valued at approximately $4,066,661.30. This represents a 10.08% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,225 shares of company stock worth $1,207,207. Company insiders own 0.72% of the company’s stock.

About Huntington Ingalls Industries

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.