Bank of America Corp DE Boosts Stock Position in Huntington Ingalls Industries, Inc. (NYSE:HII)

Bank of America Corp DE grew its holdings in Huntington Ingalls Industries, Inc. (NYSE:HIIGet Rating) by 26.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 909,953 shares of the aerospace company’s stock after buying an additional 193,130 shares during the quarter. Bank of America Corp DE owned 2.27% of Huntington Ingalls Industries worth $181,481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Huntington Ingalls Industries by 12.2% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 25,759 shares of the aerospace company’s stock worth $5,137,000 after purchasing an additional 2,809 shares in the last quarter. Mutual of America Capital Management LLC increased its position in shares of Huntington Ingalls Industries by 1.1% during the first quarter. Mutual of America Capital Management LLC now owns 5,283 shares of the aerospace company’s stock worth $1,054,000 after purchasing an additional 55 shares in the last quarter. Xponance Inc. increased its position in shares of Huntington Ingalls Industries by 769.1% during the first quarter. Xponance Inc. now owns 21,833 shares of the aerospace company’s stock worth $4,354,000 after purchasing an additional 19,321 shares in the last quarter. Redpoint Investment Management Pty Ltd purchased a new stake in shares of Huntington Ingalls Industries during the first quarter worth approximately $279,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Huntington Ingalls Industries by 1.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 16,680 shares of the aerospace company’s stock worth $3,327,000 after purchasing an additional 172 shares in the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Stock Performance

Shares of Huntington Ingalls Industries stock opened at $232.58 on Thursday. Huntington Ingalls Industries, Inc. has a 52 week low of $175.50 and a 52 week high of $243.46. The business’s fifty day simple moving average is $225.61 and its 200-day simple moving average is $215.32. The firm has a market cap of $9.29 billion, a PE ratio of 15.95 and a beta of 0.64. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 1.05.

Huntington Ingalls Industries (NYSE:HIIGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The aerospace company reported $4.44 EPS for the quarter, beating the consensus estimate of $3.43 by $1.01. Huntington Ingalls Industries had a return on equity of 21.73% and a net margin of 5.71%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the prior year, the company posted $3.20 EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. Equities analysts forecast that Huntington Ingalls Industries, Inc. will post 15.34 earnings per share for the current year.

Huntington Ingalls Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Friday, August 26th were paid a dividend of $1.18 per share. This represents a $4.72 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, August 25th. Huntington Ingalls Industries’s payout ratio is 32.37%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HII shares. Sanford C. Bernstein boosted their price objective on Huntington Ingalls Industries from $217.00 to $235.00 in a research note on Tuesday, August 9th. StockNews.com raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Huntington Ingalls Industries presently has an average rating of “Moderate Buy” and a consensus target price of $235.88.

About Huntington Ingalls Industries

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Huntington Ingalls Industries, Inc engages in designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. The company is involved in the design and construction of non-nuclear ships comprising amphibious assault ships; expeditionary warfare ships; surface combatants; and national security cutters for the U.S.

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Institutional Ownership by Quarter for Huntington Ingalls Industries (NYSE:HII)

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