Alpha Wave Global LP Acquires Shares of 25,158 Huntington Ingalls Industries, Inc. $HII

Alpha Wave Global LP acquired a new position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 25,158 shares of the aerospace company’s stock, valued at approximately $6,075,000. Huntington Ingalls Industries accounts for 0.7% of Alpha Wave Global LP’s holdings, making the stock its 14th largest holding. Alpha Wave Global LP owned approximately 0.06% of Huntington Ingalls Industries at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HII. SouthState Corp grew its stake 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 valued at $30,000 after acquiring an additional 93 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Huntington Ingalls Industries by 40.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock worth $42,000 after purchasing an additional 59 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in Huntington Ingalls Industries by 27.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 224 shares of the aerospace company’s stock valued at $54,000 after purchasing an additional 48 shares during the period. Smithfield Trust Co grew its position in shares of Huntington Ingalls Industries by 134.3% during the 2nd quarter. Smithfield Trust Co now owns 232 shares of the aerospace company’s stock worth $56,000 after purchasing an additional 133 shares in the last quarter. Finally, Concord Wealth Partners grew its position in shares of Huntington Ingalls Industries by 570.7% during the 2nd quarter. Concord Wealth Partners now owns 275 shares of the aerospace company’s stock worth $66,000 after purchasing an additional 234 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Insider Activity at Huntington Ingalls Industries

In other news, VP Chad N. Boudreaux sold 787 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $314.17, for a total transaction of $247,251.79. Following the completion of the transaction, the vice president directly owned 20,441 shares in the company, valued at approximately $6,421,948.97. This represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Edmond E. Jr. Hughes sold 850 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $315.44, for a total value of $268,124.00. Following the completion of the transaction, the vice president owned 8,731 shares of the company’s stock, valued at $2,754,106.64. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 17,103 shares of company stock worth $5,477,768 in the last 90 days. 0.72% of the stock is currently owned by company insiders.

Huntington Ingalls Industries Price Performance

Shares of HII stock opened at $316.19 on Friday. The business has a fifty day simple moving average of $300.70 and a 200 day simple moving average of $269.92. The company has a market cap of $12.41 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.60 and a beta of 0.37. The company has a quick ratio of 1.06, a current ratio of 1.14 and a debt-to-equity ratio of 0.54. Huntington Ingalls Industries, Inc. has a twelve month low of $158.88 and a twelve month high of $330.00.

Huntington Ingalls Industries (NYSE:HII) last issued its earnings results on Thursday, October 30th. The aerospace company reported $3.68 EPS for the quarter, topping the consensus estimate of $3.29 by $0.39. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $2.95 billion. Huntington Ingalls Industries had a return on equity of 11.79% and a net margin of 4.74%.The business’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.56 earnings per share. On average, sell-side analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 EPS for the current fiscal year.

Huntington Ingalls Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 28th will be given a dividend of $1.38 per share. The ex-dividend date is Friday, November 28th. This represents a $5.52 dividend on an annualized basis and a yield of 1.7%. This is a positive change from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. Huntington Ingalls Industries’s dividend payout ratio is currently 38.12%.

Analyst Upgrades and Downgrades

HII has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Huntington Ingalls Industries in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Huntington Ingalls Industries from $287.00 to $342.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Wall Street Zen upgraded Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 29th. Sanford C. Bernstein reissued a “market perform” rating and set a $362.00 target price on shares of Huntington Ingalls Industries in a report on Friday, November 7th. Finally, Zacks Research cut Huntington Ingalls Industries from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 14th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $318.57.

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.