Old North State Wealth Management LLC Has $5.25 Million Stock Position in Huntington Ingalls Industries, Inc. $HII

Old North State Wealth Management LLC increased its holdings in Huntington Ingalls Industries, Inc. (NYSE:HII) by 15.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,194 shares of the aerospace company’s stock after purchasing an additional 2,499 shares during the period. Huntington Ingalls Industries makes up about 2.5% of Old North State Wealth Management LLC’s holdings, making the stock its 9th biggest holding. Old North State Wealth Management LLC’s holdings in Huntington Ingalls Industries were worth $5,251,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new position in shares of Huntington Ingalls Industries during the second quarter valued at about $25,000. Rakuten Securities Inc. lifted its position in Huntington Ingalls Industries by 140.0% in the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. SouthState Corp grew its holdings in shares of Huntington Ingalls Industries by 310.0% in 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 increased its stake in shares of 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 buying an additional 100 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings 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 during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Huntington Ingalls Industries Stock Down 1.2%

Shares of Huntington Ingalls Industries stock opened at $351.11 on Monday. Huntington Ingalls Industries, Inc. has a twelve month low of $158.88 and a twelve month high of $360.20. The company has a quick ratio of 1.06, a current ratio of 1.14 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $315.98 and its 200 day moving average is $282.63. The company has a market cap of $13.78 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 1.68 and a beta of 0.37.

Huntington Ingalls Industries (NYSE:HII) last posted its earnings results on Thursday, October 30th. The aerospace company reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $3.29 by $0.39. The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $2.95 billion. Huntington Ingalls Industries had a net margin of 4.74% and a return on equity of 11.79%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.56 EPS. Research analysts anticipate that Huntington Ingalls Industries, Inc. will post 13.99 EPS 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 given a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, November 28th. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. Huntington Ingalls Industries’s payout ratio is currently 38.12%.

Insider Buying and Selling at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, CAO Nicolas G. Schuck sold 466 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $314.36, for a total value of $146,491.76. Following the completion of the sale, the chief accounting officer owned 2,418 shares in the company, valued at $760,122.48. This represents a 16.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Christopher D. Kastner sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $321.06, for a total value of $4,815,900.00. Following the completion of the transaction, the chief executive officer directly owned 68,139 shares in the company, valued at $21,876,707.34. This trade represents a 18.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,103 shares of company stock valued at $5,477,768. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. TD Cowen boosted their price target on Huntington Ingalls Industries from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Huntington Ingalls Industries in a research report on Wednesday, October 8th. Citigroup initiated coverage on Huntington Ingalls Industries in a research report on Friday, December 12th. They issued a “buy” rating and a $376.00 price objective on the stock. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $362.00 target price on shares of Huntington Ingalls Industries in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Huntington Ingalls Industries has an average rating of “Hold” and an average target price of $325.75.

Huntington Ingalls Industries 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.