Primoris Wealth Advisors LLC Buys Shares of 7,850 Huntington Ingalls Industries, Inc. $HII

Primoris Wealth Advisors LLC purchased a new position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 7,850 shares of the aerospace company’s stock, valued at approximately $2,260,000. Huntington Ingalls Industries makes up approximately 1.4% of Primoris Wealth Advisors LLC’s holdings, making the stock its 24th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CYBER HORNET ETFs LLC acquired a new stake in Huntington Ingalls Industries in the second quarter valued at $25,000. Rakuten Securities Inc. raised its stake in shares of Huntington Ingalls Industries by 140.0% in the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 63 shares in the last quarter. SouthState Corp lifted its position in shares of Huntington Ingalls Industries by 310.0% during the second quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 93 shares during the last quarter. Anchor Investment Management LLC grew its stake in Huntington Ingalls Industries by 400.0% in the second quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Huntington Ingalls Industries by 363.3% in the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company’s stock valued at $33,000 after buying an additional 109 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HII. JPMorgan Chase & Co. increased their target price on Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Wall Street Zen lowered Huntington Ingalls Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Huntington Ingalls Industries in a report on Wednesday, October 8th. TD Cowen boosted their target price on shares of Huntington Ingalls Industries from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Melius raised shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Huntington Ingalls Industries presently has a consensus rating of “Hold” and an average price target of $325.75.

Insiders Place Their Bets

In other Huntington Ingalls Industries news, VP Chad N. Boudreaux sold 787 shares of Huntington Ingalls Industries stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $314.17, for a total transaction of $247,251.79. Following the sale, the vice president owned 20,441 shares of the company’s stock, valued at $6,421,948.97. The trade was a 3.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Edmond E. Jr. Hughes sold 850 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $315.44, for a total value of $268,124.00. Following the completion of the transaction, the vice president directly owned 8,731 shares of the company’s stock, valued at approximately $2,754,106.64. The trade was a 8.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 17,103 shares of company stock valued at $5,477,768. Corporate insiders own 0.86% of the company’s stock.

Huntington Ingalls Industries Stock Performance

Shares of HII opened at $398.39 on Tuesday. The firm has a fifty day moving average of $329.28 and a 200-day moving average of $292.47. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.57 and a beta of 0.36. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.06 and a current ratio of 1.14. Huntington Ingalls Industries, Inc. has a 1 year low of $158.88 and a 1 year high of $399.61.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings data on Thursday, October 30th. The aerospace company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.29 by $0.39. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Huntington Ingalls Industries had a net margin of 4.74% and a return on equity of 11.79%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.56 EPS. As a group, equities analysts anticipate that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current year.

Huntington Ingalls Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend was Friday, November 28th. Huntington Ingalls Industries’s dividend payout ratio is presently 38.12%.

About Huntington Ingalls Industries

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.