Envestnet Asset Management Inc. Increases Stake in Huntington Ingalls Industries, Inc. (NYSE:HII)

Envestnet Asset Management Inc. boosted its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 20.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,696 shares of the aerospace company’s stock after purchasing an additional 15,892 shares during the quarter. Envestnet Asset Management Inc. owned about 0.24% of Huntington Ingalls Industries worth $18,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in HII. Sentry Investment Management LLC bought a new stake in Huntington Ingalls Industries during the first quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its position in Huntington Ingalls Industries by 503.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 157 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 131 shares in the last quarter. HM Payson & Co. boosted its position in Huntington Ingalls Industries by 71.9% during the first quarter. HM Payson & Co. now owns 153 shares of the aerospace company’s stock valued at $31,000 after purchasing an additional 64 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in Huntington Ingalls Industries during the fourth quarter valued at about $36,000. Finally, Grove Bank & Trust bought a new stake in Huntington Ingalls Industries during the first quarter valued at about $61,000. Institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective on Huntington Ingalls Industries from $200.00 to $235.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. TD Cowen raised Huntington Ingalls Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $250.00 to $300.00 in a report on Thursday, July 10th. The Goldman Sachs Group raised their price target on Huntington Ingalls Industries from $236.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Alembic Global Advisors raised Huntington Ingalls Industries from a “neutral” rating to an “overweight” rating and set a $265.00 price target for the company in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $251.38.

Insider Transactions at Huntington Ingalls Industries

In other news, VP Chad N. Boudreaux sold 1,965 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $228.94, for a total value of $449,867.10. Following the completion of the transaction, the vice president directly owned 21,228 shares in the company, valued at $4,859,938.32. This trade represents a 8.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Anastasi D. Kelly sold 1,960 shares of Huntington Ingalls Industries stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $232.58, for a total value of $455,856.80. Following the transaction, the director owned 17,485 shares of the company’s stock, valued at approximately $4,066,661.30. This represents a 10.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,225 shares of company stock worth $1,207,207 over the last three months. 0.72% of the stock is currently owned by insiders.

Huntington Ingalls Industries Price Performance

Shares of NYSE HII opened at $253.63 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.99 and a current ratio of 1.07. The company has a market cap of $9.95 billion, a PE ratio of 18.27, a P/E/G ratio of 1.56 and a beta of 0.31. The business has a 50-day simple moving average of $234.96 and a two-hundred day simple moving average of $210.08. Huntington Ingalls Industries, Inc. has a fifty-two week low of $158.88 and a fifty-two week high of $285.81.

Huntington Ingalls Industries (NYSE:HII) last announced its quarterly earnings data on Thursday, May 1st. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.89. Huntington Ingalls Industries had a return on equity of 12.26% and a net margin of 4.76%. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the business posted $3.87 earnings per share. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, equities analysts expect that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, May 30th. Huntington Ingalls Industries’s payout ratio is 38.90%.

Huntington Ingalls Industries Profile

Huntington Ingalls Industries, Inc designs, builds, overhauls, and repairs military ships in the United States. It operates through three segments: Ingalls, Newport News, and Mission Technologies. 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.