Retirement Systems of Alabama lessened its stake in shares of Huntington Ingalls Industries, Inc. (NYSE:HII – Get Rating) by 10.4% during the first quarter, Holdings Channel reports. The fund owned 54,211 shares of the aerospace company’s stock after selling 6,320 shares during the quarter. Retirement Systems of Alabama’s holdings in Huntington Ingalls Industries were worth $10,812,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in HII. Tudor Investment Corp Et Al lifted its position in shares of Huntington Ingalls Industries by 376.4% during the 3rd quarter. Tudor Investment Corp Et Al now owns 23,540 shares of the aerospace company’s stock valued at $4,545,000 after acquiring an additional 18,599 shares during the period. LPL Financial LLC increased its stake in Huntington Ingalls Industries by 1.6% during the 3rd quarter. LPL Financial LLC now owns 15,665 shares of the aerospace company’s stock valued at $3,024,000 after purchasing an additional 245 shares in the last quarter. Comerica Bank increased its stake in Huntington Ingalls Industries by 148.9% during the 3rd quarter. Comerica Bank now owns 14,133 shares of the aerospace company’s stock valued at $3,008,000 after purchasing an additional 8,455 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in Huntington Ingalls Industries by 745.8% during the 4th quarter. Carroll Financial Associates Inc. now owns 203 shares of the aerospace company’s stock valued at $37,000 after purchasing an additional 179 shares in the last quarter. Finally, Stonnington Group LLC bought a new stake in Huntington Ingalls Industries during the 4th quarter valued at $278,000. Institutional investors own 85.52% of the company’s stock.
In other news, VP Edgar A. Green III sold 4,222 shares of the stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $207.99, for a total value of $878,133.78. Following the sale, the vice president now directly owns 5,809 shares of the company’s stock, valued at $1,208,213.91. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.16% of the company’s stock.
A number of brokerages have commented on HII. Vertical Research upgraded shares of Huntington Ingalls Industries from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a research note on Thursday, March 17th. Cowen upgraded shares of Huntington Ingalls Industries from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $200.00 to $270.00 in a research note on Thursday, April 14th. StockNews.com assumed coverage on shares of Huntington Ingalls Industries in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Cowen upgraded shares of Huntington Ingalls Industries from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $200.00 to $270.00 in a research note on Thursday, April 14th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $236.00.
HII opened at $220.96 on Monday. The firm has a market cap of $8.85 billion, a P/E ratio of 16.56 and a beta of 0.71. The firm has a 50-day moving average of $210.83 and a 200 day moving average of $201.76. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.07 and a current ratio of 1.15. Huntington Ingalls Industries, Inc. has a fifty-two week low of $175.50 and a fifty-two week high of $228.66.
Huntington Ingalls Industries (NYSE:HII – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The aerospace company reported $3.50 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.19. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.54 billion. Huntington Ingalls Industries had a net margin of 5.46% and a return on equity of 21.69%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.68 earnings per share. Equities research analysts predict that Huntington Ingalls Industries, Inc. will post 15.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 27th were given a dividend of $1.18 per share. The ex-dividend date was Thursday, May 26th. This represents a $4.72 annualized dividend and a yield of 2.14%. Huntington Ingalls Industries’s payout ratio is currently 35.38%.
About Huntington Ingalls Industries (Get Rating)
Huntington Ingalls Industries, Inc engages in designing, building, overhauling, and repairing military ships in the United States. It operates through three segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions. 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.
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