Diamond Hill Capital Management Inc. Sells 114,490 Shares of Huntington Ingalls Industries, Inc. $HII

Diamond Hill Capital Management Inc. cut its stake in Huntington Ingalls Industries, Inc. (NYSE:HII) by 25.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 327,342 shares of the aerospace company’s stock after selling 114,490 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Huntington Ingalls Industries were worth $111,319,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in HII. CYBER HORNET ETFs LLC bought a new stake in shares of Huntington Ingalls Industries in the second quarter worth approximately $25,000. Rakuten Securities Inc. grew its stake in shares of Huntington Ingalls Industries by 140.0% in the second quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 63 shares during the period. NBC Securities Inc. grew its stake in shares of Huntington Ingalls Industries by 87.2% in the fourth quarter. NBC Securities Inc. now owns 88 shares of the aerospace company’s stock worth $30,000 after acquiring an additional 41 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of Huntington Ingalls Industries by 363.3% in the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company’s stock worth $33,000 after acquiring an additional 109 shares during the period. Finally, Community Bank N.A. bought a new stake in shares of Huntington Ingalls Industries in the third quarter worth approximately $35,000. 90.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Huntington Ingalls Industries news, EVP Eric D. Chewning sold 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $433.44, for a total value of $736,848.00. Following the completion of the transaction, the executive vice president directly owned 1,949 shares in the company, valued at $844,774.56. This represents a 46.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Chad N. Boudreaux sold 4,400 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $422.45, for a total transaction of $1,858,780.00. Following the completion of the transaction, the vice president owned 20,360 shares of the company’s stock, valued at approximately $8,601,082. The trade was a 17.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.

Huntington Ingalls Industries Stock Performance

HII opened at $317.28 on Friday. The firm has a market cap of $12.50 billion, a P/E ratio of 20.64, a PEG ratio of 1.36 and a beta of 0.29. Huntington Ingalls Industries, Inc. has a 1-year low of $215.04 and a 1-year high of $460.00. The company has a 50 day simple moving average of $375.41 and a two-hundred day simple moving average of $372.34. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.19 and a quick ratio of 1.11.

Huntington Ingalls Industries (NYSE:HII) last posted its quarterly earnings results on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share 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 net margin of 4.71% and a return on equity of 12.05%. The company’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.79 earnings per share. Equities analysts forecast that Huntington Ingalls Industries, Inc. will post 17.29 earnings per share for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, May 29th. Huntington Ingalls Industries’s dividend payout ratio is presently 35.91%.

Analysts Set New Price Targets

Several brokerages recently issued reports on HII. Wall Street Zen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday. Wells Fargo & Company began coverage on shares of Huntington Ingalls Industries in a research report on Wednesday, April 1st. They set an “equal weight” rating and a $400.00 target price for the company. TD Cowen cut their target price on shares of 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. Bank of America upgraded shares of Huntington Ingalls Industries from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $300.00 to $400.00 in a research report on Thursday, February 12th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $421.00 target price on shares of Huntington Ingalls Industries in a research report on Wednesday, February 11th. Four investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Huntington Ingalls Industries presently has a consensus rating of “Hold” and a consensus price target of $388.50.

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.