Huntington Ingalls Industries, Inc. $HII Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 13.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 278,907 shares of the aerospace company’s stock after selling 44,234 shares during the quarter. Bank of New York Mellon Corp owned about 0.71% of Huntington Ingalls Industries worth $105,957,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp raised its holdings in shares of Huntington Ingalls Industries by 205.8% in the fourth quarter. M&T Bank Corp now owns 40,031 shares of the aerospace company’s stock worth $13,613,000 after acquiring an additional 26,940 shares during the last quarter. Chase Investment Counsel Corp purchased a new stake in shares of Huntington Ingalls Industries in the fourth quarter valued at $4,634,000. Builder Investment Group Inc. ADV acquired a new stake in shares of Huntington Ingalls Industries during the fourth quarter valued at $6,815,000. Gradient Investments LLC increased its position in Huntington Ingalls Industries by 662.3% during the 4th quarter. Gradient Investments LLC now owns 44,806 shares of the aerospace company’s stock worth $15,237,000 after purchasing an additional 38,928 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Huntington Ingalls Industries by 71.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 365,760 shares of the aerospace company’s stock worth $124,384,000 after purchasing an additional 152,624 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Huntington Ingalls Industries Price Performance

Huntington Ingalls Industries stock opened at $269.87 on Tuesday. The firm has a fifty day moving average of $297.10 and a 200-day moving average of $363.40. Huntington Ingalls Industries, Inc. has a 52-week low of $250.91 and a 52-week high of $460.00. The company has a quick ratio of 1.11, a current ratio of 1.19 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $10.63 billion, a P/E ratio of 17.56, a PEG ratio of 1.15 and a beta of 0.25.

Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Tuesday, May 5th. The aerospace company reported $3.79 EPS for the quarter, beating the consensus estimate of $3.70 by $0.09. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period last year, the business posted $3.79 EPS. The company’s revenue was up 13.4% on a year-over-year basis. As a group, analysts predict that Huntington Ingalls Industries, Inc. will post 17.31 EPS for the current year.

Huntington Ingalls Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were given a $1.38 dividend. The ex-dividend date was Friday, May 29th. This represents a $5.52 annualized dividend and a dividend yield of 2.0%. Huntington Ingalls Industries’s dividend payout ratio (DPR) is presently 35.91%.

Insider Buying and Selling at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 3,500 shares of Huntington Ingalls Industries stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $319.58, for a total value of $1,118,530.00. Following the completion of the transaction, the vice president owned 8,391 shares of the company’s stock, valued at $2,681,595.78. The trade was a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

HII has been the topic of a number of recent research reports. Wells Fargo & Company initiated coverage on shares of Huntington Ingalls Industries in a report on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 target price on the stock. Weiss Ratings downgraded shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. TD Cowen cut their price objective on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Citigroup reduced their price objective on shares of Huntington Ingalls Industries from $405.00 to $349.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Four research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Huntington Ingalls Industries presently has a consensus rating of “Hold” and an average price target of $374.00.

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.