Needham Investment Management LLC Lowers Position in Huntington Ingalls Industries, Inc. $HII

Needham Investment Management LLC lessened its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,500 shares of the aerospace company’s stock after selling 4,000 shares during the period. Needham Investment Management LLC owned approximately 0.13% of Huntington Ingalls Industries worth $17,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HII. CYBER HORNET ETFs LLC bought a new position in Huntington Ingalls Industries during the 2nd quarter valued at approximately $25,000. Rakuten Securities Inc. increased its position in Huntington Ingalls Industries by 140.0% during the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock valued at $26,000 after buying an additional 63 shares in the last quarter. NBC Securities Inc. increased its position in Huntington Ingalls Industries by 87.2% during the 4th quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock valued at $30,000 after buying an additional 41 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Huntington Ingalls Industries by 363.3% during the 2nd 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 in the last quarter. Finally, Community Bank N.A. bought a new position in Huntington Ingalls Industries during the 3rd quarter valued at approximately $35,000. Institutional investors own 90.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wells Fargo & Company assumed coverage on Huntington Ingalls Industries in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 price objective for the company. Weiss Ratings lowered Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup reduced their price objective on Huntington Ingalls Industries from $441.00 to $405.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, TD Cowen reduced their price objective on Huntington Ingalls Industries from $460.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Four investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $388.50.

Insider Activity at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of Huntington Ingalls Industries stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $319.58, for a total value of $1,118,530.00. Following the completion of the sale, the vice president owned 8,391 shares of the company’s stock, valued at approximately $2,681,595.78. This trade represents a 29.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company’s stock.

Huntington Ingalls Industries Stock Up 0.7%

Huntington Ingalls Industries stock opened at $299.74 on Tuesday. The firm has a market cap of $11.81 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.26 and a beta of 0.23. The stock has a fifty day simple moving average of $341.55 and a two-hundred day simple moving average of $371.27. Huntington Ingalls Industries, Inc. has a 12 month low of $226.75 and a 12 month high of $460.00. The company has a current ratio of 1.19, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52.

Huntington Ingalls Industries (NYSE:HII) last posted its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.09. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.79 EPS. Equities analysts predict that Huntington Ingalls Industries, Inc. will post 17.32 EPS for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a $1.38 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.8%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 35.91%.

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.