Vanguard Group Inc. Increases Holdings in Huntington Ingalls Industries, Inc. (NYSE:HII)

Posted by Defense World Staff on Mar 14th, 2023

Vanguard Group Inc. raised its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII – Get Rating) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,664,526 shares of the aerospace company’s stock after buying an additional 67,704 shares during the quarter. Vanguard Group Inc. owned about 11.69% of Huntington Ingalls Industries worth $1,033,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of HII. Allworth Financial LP increased its holdings in shares of Huntington Ingalls Industries by 2,750.0% in the 3rd quarter. Allworth Financial LP now owns 114 shares of the aerospace company’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Huntington Ingalls Industries in the 3rd quarter worth $32,000. Standard Family Office LLC bought a new stake in shares of Huntington Ingalls Industries in the 3rd quarter worth $48,000. SeaCrest Wealth Management LLC bought a new stake in shares of Huntington Ingalls Industries in the 2nd quarter worth $53,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Huntington Ingalls Industries in the 1st quarter worth $60,000. Institutional investors own 86.63% of the company’s stock.

Huntington Ingalls Industries Stock Performance

NYSE:HII opened at $209.16 on Tuesday. The stock has a 50-day simple moving average of $219.80 and a two-hundred day simple moving average of $228.95. Huntington Ingalls Industries, Inc. has a 52-week low of $189.76 and a 52-week high of $260.02. The firm has a market capitalization of $8.34 billion, a PE ratio of 14.47 and a beta of 0.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 0.95.

Huntington Ingalls Industries (NYSE:HII – Get Rating) last announced its quarterly earnings data on Thursday, February 9th. The aerospace company reported $3.07 EPS for the quarter, missing the consensus estimate of $3.14 by ($0.07). Huntington Ingalls Industries had a net margin of 5.42% and a return on equity of 18.81%. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the firm earned $2.99 earnings per share. Huntington Ingalls Industries’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that Huntington Ingalls Industries, Inc. will post 14.53 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 24th were given a $1.24 dividend. The ex-dividend date of this dividend was Thursday, February 23rd. This represents a $4.96 annualized dividend and a dividend yield of 2.37%. Huntington Ingalls Industries’s payout ratio is 34.33%.

Analyst Ratings Changes

A number of research firms have commented on HII. Sanford C. Bernstein reduced their target price on Huntington Ingalls Industries from $247.00 to $236.00 and set a “market perform” rating for the company in a report on Monday, February 13th. The Goldman Sachs Group lifted their price objective on Huntington Ingalls Industries from $171.00 to $190.00 and gave the stock a “sell” rating in a report on Thursday, December 15th. JPMorgan Chase & Co. cut their price objective on Huntington Ingalls Industries from $258.00 to $250.00 and set a “neutral” rating for the company in a report on Tuesday, November 15th. TheStreet raised Huntington Ingalls Industries from a “c+” rating to a “b-” rating in a report on Wednesday, March 1st. Finally, Barclays raised Huntington Ingalls Industries from an “equal weight” rating to an “overweight” rating and set a $270.00 price objective for the company in a report on Thursday, December 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $251.10.

Insider Activity

In other news, Director Anastasi D. Kelly sold 3,662 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $222.41, for a total value of $814,465.42. Following the transaction, the director now directly owns 351 shares in the company, valued at $78,065.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Anastasi D. Kelly sold 3,662 shares of the business’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $222.41, for a total value of $814,465.42. Following the transaction, the director now directly owns 351 shares in the company, valued at $78,065.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Edgar A. Green III sold 1,545 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $219.21, for a total value of $338,679.45. Following the completion of the sale, the vice president now owns 4,264 shares in the company, valued at $934,711.44. The disclosure for this sale can be found here. Insiders have sold 6,924 shares of company stock worth $1,522,231 over the last ninety days. Corporate insiders own 2.16% of the company’s stock.

About Huntington Ingalls Industries

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Huntington Ingalls Industries, Inc engages in the shipbuilding business. It operates through the following business segments: Ingalls, Newport News, and Mission Technologies. The Ingalls segment designs and constructs non-nuclear ships, including amphibious assault ships, expeditionary warfare ships, surface combatants, and national security cutters (NSC).