Convergence Investment Partners LLC Makes New $2.05 Million Investment in Huntington Ingalls Industries, Inc. $HII

Convergence Investment Partners LLC acquired a new position in Huntington Ingalls Industries, Inc. (NYSE:HII) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,405 shares of the aerospace company’s stock, valued at approximately $2,053,000.

Several other institutional investors also recently bought and sold shares of the stock. Personal CFO Solutions LLC boosted its stake in shares of Huntington Ingalls Industries by 3.7% during the 1st quarter. Personal CFO Solutions LLC now owns 775 shares of the aerospace company’s stock worth $294,000 after acquiring an additional 28 shares in the last quarter. TriaGen Wealth Management LLC raised its stake in shares of Huntington Ingalls Industries by 1.6% in the 4th quarter. TriaGen Wealth Management LLC now owns 1,971 shares of the aerospace company’s stock valued at $670,000 after acquiring an additional 31 shares in the last quarter. Intrust Bank NA lifted its holdings in Huntington Ingalls Industries by 4.5% in the 4th quarter. Intrust Bank NA now owns 821 shares of the aerospace company’s stock worth $279,000 after purchasing an additional 35 shares during the last quarter. Oakworth Capital Inc. lifted its holdings in Huntington Ingalls Industries by 1.7% in the 4th quarter. Oakworth Capital Inc. now owns 2,205 shares of the aerospace company’s stock worth $750,000 after purchasing an additional 36 shares during the last quarter. Finally, Whittier Trust Co. boosted its position in Huntington Ingalls Industries by 2.5% during the first quarter. Whittier Trust Co. now owns 1,532 shares of the aerospace company’s stock worth $625,000 after purchasing an additional 38 shares during the period. 90.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the company’s stock in a transaction that occurred 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 sale, the vice president directly owned 8,391 shares in the company, valued at approximately $2,681,595.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

HII has been the topic of a number of recent analyst reports. Wells Fargo & Company assumed coverage on shares of Huntington Ingalls Industries in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 price target on the stock. Wall Street Zen downgraded shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Weiss Ratings lowered shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. TD Cowen dropped their target price on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Finally, Citigroup cut their target price on shares of Huntington Ingalls Industries from $405.00 to $349.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $374.00.

Huntington Ingalls Industries Trading Up 0.3%

Shares of Huntington Ingalls Industries stock opened at $269.87 on Tuesday. The firm has a market capitalization of $10.63 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.15 and a beta of 0.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 1.11. The company’s fifty day moving average price is $297.10 and its two-hundred day moving average price is $363.40. Huntington Ingalls Industries, Inc. has a 52-week low of $250.91 and a 52-week high of $460.00.

Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 EPS for the quarter, topping analysts’ consensus estimates of $3.70 by $0.09. Huntington Ingalls Industries had a net margin of 4.71% and a return on equity of 12.05%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the firm earned $3.79 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts expect that Huntington Ingalls Industries, Inc. will post 17.31 EPS for the current year.

Huntington Ingalls Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 29th. Huntington Ingalls Industries’s payout ratio is presently 35.91%.

Huntington Ingalls Industries Company Profile

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.