Allspring Global Investments Holdings LLC Raises Holdings in Huntington Ingalls Industries, Inc. $HII

Allspring Global Investments Holdings LLC lifted its stake in Huntington Ingalls Industries, Inc. (NYSE:HII) by 88.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,360 shares of the aerospace company’s stock after buying an additional 2,993 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Huntington Ingalls Industries were worth $2,224,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HII. Geneos Wealth Management Inc. boosted its stake in shares of Huntington Ingalls Industries by 40.1% in 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. Beacon Pointe Advisors LLC purchased a new stake in shares of Huntington Ingalls Industries in the second quarter worth about $203,000. EverSource Wealth Advisors LLC boosted its stake in shares of Huntington Ingalls Industries by 329.4% in the second quarter. EverSource Wealth Advisors LLC now owns 365 shares of the aerospace company’s stock worth $88,000 after buying an additional 280 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Huntington Ingalls Industries by 432.1% in the second quarter. Marshall Wace LLP now owns 38,144 shares of the aerospace company’s stock worth $9,210,000 after buying an additional 30,975 shares during the last quarter. Finally, Cresset Asset Management LLC boosted its stake in shares of Huntington Ingalls Industries by 23.0% in the second quarter. Cresset Asset Management LLC now owns 1,575 shares of the aerospace company’s stock worth $381,000 after buying an additional 294 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on HII. Wall Street Zen upgraded Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Bank of America upgraded Huntington Ingalls Industries from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $300.00 to $400.00 in a research report on Thursday, February 12th. The Goldman Sachs Group increased their price target on Huntington Ingalls Industries from $384.00 to $425.00 and gave the stock a “buy” rating in a research report on Tuesday, January 20th. TD Cowen increased their price target on Huntington Ingalls Industries from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Citigroup lowered their price target on Huntington Ingalls Industries from $465.00 to $441.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $383.22.

Insider Activity at Huntington Ingalls Industries

In other news, EVP Eric D. Chewning sold 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $433.44, for a total value of $736,848.00. Following the transaction, the executive vice president owned 1,949 shares in the company, valued at $844,774.56. This trade represents a 46.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Chad N. Boudreaux sold 4,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $422.45, for a total value of $1,858,780.00. Following the completion of the transaction, the vice president owned 20,360 shares in the company, valued at approximately $8,601,082. This trade represents a 17.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.72% of the company’s stock.

Huntington Ingalls Industries Stock Performance

Shares of HII stock opened at $411.30 on Thursday. The company has a market capitalization of $16.14 billion, a P/E ratio of 26.76, a P/E/G ratio of 1.61 and a beta of 0.36. The business’s 50 day moving average is $414.84 and its two-hundred day moving average is $358.10. The company has a current ratio of 1.13, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Huntington Ingalls Industries, Inc. has a 12-month low of $182.79 and a 12-month high of $460.00.

Huntington Ingalls Industries (NYSE:HII) last released its earnings results on Thursday, February 5th. The aerospace company reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.32. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.09 billion. Huntington Ingalls Industries had a return on equity of 12.28% and a net margin of 4.85%.The business’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.15 earnings per share. 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 announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, February 27th. Huntington Ingalls Industries’s dividend payout ratio (DPR) is 35.91%.

Huntington Ingalls Industries Profile

Huntington Ingalls Industries (NYSE: HII) is America’s largest military shipbuilding company and a leading provider of professional services to the U.S. government. Headquartered in Newport News, Virginia, HII designs, constructs and maintains nuclear-powered aircraft carriers, submarines and other complex vessels for the U.S. Navy. The company’s products include nuclear aircraft carriers, Virginia-class and Columbia-class submarines, as well as amphibious assault ships, destroyers and cutters.

Established in 2011 as a spin-off from Northrop Grumman’s shipbuilding operations, HII traces its heritage to two historic builders: Newport News Shipbuilding, founded in the 19th century, and Ingalls Shipbuilding, founded in 1938.