Lord Abbett & CO. LLC lifted its holdings in shares of Huntington Ingalls Industries Inc (NYSE:HII) by 25.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 111,301 shares of the aerospace company’s stock after acquiring an additional 22,750 shares during the period. Lord Abbett & CO. LLC owned approximately 0.25% of Huntington Ingalls Industries worth $28,689,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. California Public Employees Retirement System lifted its holdings in Huntington Ingalls Industries by 5.2% in the fourth quarter. California Public Employees Retirement System now owns 123,518 shares of the aerospace company’s stock valued at $29,113,000 after acquiring an additional 6,054 shares during the period. Old Mutual Global Investors UK Ltd. lifted its holdings in Huntington Ingalls Industries by 151.2% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 5,055 shares of the aerospace company’s stock valued at $1,191,000 after acquiring an additional 3,043 shares during the period. First Trust Advisors LP lifted its holdings in Huntington Ingalls Industries by 46.5% in the fourth quarter. First Trust Advisors LP now owns 172,644 shares of the aerospace company’s stock valued at $40,692,000 after acquiring an additional 54,761 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Huntington Ingalls Industries by 13.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 75,698 shares of the aerospace company’s stock valued at $17,842,000 after acquiring an additional 8,700 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in Huntington Ingalls Industries by 37.7% in the fourth quarter. Toronto Dominion Bank now owns 2,676 shares of the aerospace company’s stock valued at $631,000 after acquiring an additional 732 shares during the period. Institutional investors and hedge funds own 86.63% of the company’s stock.
NYSE:HII traded up $1.27 during trading hours on Friday, hitting $212.96. The company had a trading volume of 354,820 shares, compared to its average volume of 393,428. The stock has a market cap of $9.42 billion, a P/E ratio of 17.54, a PEG ratio of 0.87 and a beta of 0.97. The company has a quick ratio of 1.38, a current ratio of 1.51 and a debt-to-equity ratio of 0.75. Huntington Ingalls Industries Inc has a 1 year low of $183.42 and a 1 year high of $276.69.
Huntington Ingalls Industries (NYSE:HII) last released its quarterly earnings results on Thursday, May 3rd. The aerospace company reported $3.48 earnings per share for the quarter, missing analysts’ consensus estimates of $4.07 by ($0.59). The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Huntington Ingalls Industries had a return on equity of 34.69% and a net margin of 6.80%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.56 earnings per share. equities analysts anticipate that Huntington Ingalls Industries Inc will post 16.2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Friday, May 25th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Thursday, May 24th. Huntington Ingalls Industries’s dividend payout ratio is presently 23.72%.
HII has been the subject of several research analyst reports. Citigroup raised Huntington Ingalls Industries from a “neutral” rating to a “buy” rating and set a $233.00 target price for the company in a research note on Wednesday, May 9th. Zacks Investment Research downgraded Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, April 24th. Credit Suisse Group reduced their target price on Huntington Ingalls Industries from $301.00 to $259.00 and set an “outperform” rating for the company in a research note on Tuesday, May 22nd. Wells Fargo & Co upgraded Huntington Ingalls Industries from a “market perform” rating to an “outperform” rating in a research report on Friday, May 4th. Finally, Barclays initiated coverage on Huntington Ingalls Industries in a research report on Thursday, March 29th. They set an “overweight” rating and a $309.00 price target for the company. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $265.33.
In related news, Director Stephen R. Wilson purchased 460 shares of Huntington Ingalls Industries stock in a transaction on Monday, May 7th. The shares were bought at an average price of $216.46 per share, with a total value of $99,571.60. Following the transaction, the director now directly owns 460 shares of the company’s stock, valued at $99,571.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP D R. Wyatt sold 1,000 shares of the stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $222.67, for a total value of $222,670.00. Following the completion of the sale, the vice president now directly owns 20,170 shares in the company, valued at approximately $4,491,253.90. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 2,460 shares of company stock valued at $535,902. Company insiders own 2.22% of the company’s stock.
Huntington Ingalls Industries Profile
Huntington Ingalls Industries, Inc engages in the 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 that include deck amphibious ships and transport dock ships; surface combatants; and national security cutters for the U.S.
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