Franklin Resources Inc. Buys 5,027 Shares of Huntington Ingalls Industries, Inc. $HII

Franklin Resources Inc. increased its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 350.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,463 shares of the aerospace company’s stock after acquiring an additional 5,027 shares during the period. Franklin Resources Inc.’s holdings in Huntington Ingalls Industries were worth $1,561,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. SouthState Corp raised its stake in shares of Huntington Ingalls Industries by 310.0% during the 2nd quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 93 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Huntington Ingalls Industries by 40.1% during the first quarter. Geneos Wealth Management Inc. now owns 206 shares of the aerospace company’s stock worth $42,000 after buying an additional 59 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Huntington Ingalls Industries by 27.3% during the second quarter. Parkside Financial Bank & Trust now owns 224 shares of the aerospace company’s stock worth $54,000 after acquiring an additional 48 shares in the last quarter. Smithfield Trust Co lifted its stake in Huntington Ingalls Industries by 134.3% in the second quarter. Smithfield Trust Co now owns 232 shares of the aerospace company’s stock valued at $56,000 after acquiring an additional 133 shares during the last quarter. Finally, Concord Wealth Partners lifted its stake in Huntington Ingalls Industries by 570.7% in the second quarter. Concord Wealth Partners now owns 275 shares of the aerospace company’s stock valued at $66,000 after acquiring an additional 234 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein restated a “market perform” rating and set a $362.00 price objective on shares of Huntington Ingalls Industries in a research note on Friday, November 7th. TD Cowen boosted their price target on Huntington Ingalls Industries from $320.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. JPMorgan Chase & Co. upped their price objective on Huntington Ingalls Industries from $287.00 to $342.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Wall Street Zen raised Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 29th. Finally, Bank of America lifted their target price on Huntington Ingalls Industries from $180.00 to $260.00 and gave the stock an “underperform” rating in a research note on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $318.57.

Insider Buying and Selling at Huntington Ingalls Industries

In related news, VP Edmond E. Jr. Hughes sold 850 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $315.44, for a total transaction of $268,124.00. Following the transaction, the vice president directly owned 8,731 shares of the company’s stock, valued at approximately $2,754,106.64. This trade represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Nicolas G. Schuck sold 466 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $314.36, for a total transaction of $146,491.76. Following the completion of the sale, the chief accounting officer directly owned 2,418 shares of the company’s stock, valued at $760,122.48. This represents a 16.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 17,103 shares of company stock valued at $5,477,768. 0.72% of the stock is currently owned by insiders.

Huntington Ingalls Industries Trading Up 2.3%

Shares of NYSE:HII opened at $316.19 on Friday. Huntington Ingalls Industries, Inc. has a 12-month low of $158.88 and a 12-month high of $330.00. The stock has a market cap of $12.41 billion, a PE ratio of 21.84, a P/E/G ratio of 1.60 and a beta of 0.37. The business has a 50 day moving average of $300.70 and a 200-day moving average of $269.92. 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 (NYSE:HII) last announced its earnings results on Thursday, October 30th. The aerospace company reported $3.68 earnings per share for the quarter, topping analysts’ consensus estimates of $3.29 by $0.39. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $2.95 billion. Huntington Ingalls Industries had a return on equity of 11.79% and a net margin of 4.74%.The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.56 earnings per share. As a group, equities research analysts forecast that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current year.

Huntington Ingalls Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be given a $1.38 dividend. The ex-dividend date of this dividend is Friday, November 28th. This is a boost from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. This represents a $5.52 dividend on an annualized basis and a dividend yield of 1.7%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 38.12%.

Huntington Ingalls Industries Company 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.