Mackay Shields LLC Increases Position in Huntington Ingalls Industries Inc (HII)

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Mackay Shields LLC boosted its holdings in shares of Huntington Ingalls Industries Inc (NYSE:HII) by 18.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 103,796 shares of the aerospace company’s stock after acquiring an additional 16,453 shares during the quarter. Mackay Shields LLC’s holdings in Huntington Ingalls Industries were worth $22,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in Huntington Ingalls Industries during the 2nd quarter valued at about $185,624,000. Wells Fargo & Company MN grew its stake in Huntington Ingalls Industries by 10.0% during the 2nd quarter. Wells Fargo & Company MN now owns 800,478 shares of the aerospace company’s stock valued at $173,535,000 after acquiring an additional 72,743 shares in the last quarter. Boston Partners grew its stake in Huntington Ingalls Industries by 2.5% during the 2nd quarter. Boston Partners now owns 589,518 shares of the aerospace company’s stock valued at $127,802,000 after acquiring an additional 14,395 shares in the last quarter. Northern Trust Corp grew its stake in Huntington Ingalls Industries by 11.4% during the 1st quarter. Northern Trust Corp now owns 550,536 shares of the aerospace company’s stock valued at $141,906,000 after acquiring an additional 56,232 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Huntington Ingalls Industries by 537.7% during the 1st quarter. Millennium Management LLC now owns 354,169 shares of the aerospace company’s stock valued at $91,291,000 after acquiring an additional 298,629 shares in the last quarter. 86.54% of the stock is owned by institutional investors.

Huntington Ingalls Industries opened at $237.85 on Friday, Marketbeat.com reports. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. Huntington Ingalls Industries Inc has a 1-year low of $201.91 and a 1-year high of $276.69. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.93 and a beta of 0.97.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Thursday, August 2nd. The aerospace company reported $5.40 EPS for the quarter, topping the consensus estimate of $4.21 by $1.19. Huntington Ingalls Industries had a net margin of 7.84% and a return on equity of 39.78%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $3.21 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. equities analysts expect that Huntington Ingalls Industries Inc will post 16.98 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be issued a $0.72 dividend. The ex-dividend date is Thursday, August 30th. This represents a $2.88 annualized dividend and a dividend yield of 1.21%. Huntington Ingalls Industries’s dividend payout ratio is currently 23.72%.

In related news, Director Philip M. Bilden acquired 1,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The shares were purchased at an average cost of $215.35 per share, for a total transaction of $215,350.00. Following the acquisition, the director now owns 270 shares in the company, valued at approximately $58,144.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jerri F. Dickseski sold 270 shares of the company’s stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of $225.00, for a total transaction of $60,750.00. Following the completion of the transaction, the vice president now owns 35,291 shares in the company, valued at $7,940,475. The disclosure for this sale can be found here. Corporate insiders own 2.22% of the company’s stock.

Several research firms have weighed in on HII. Credit Suisse Group decreased their target price on shares of Huntington Ingalls Industries from $335.00 to $328.00 and set an “outperform” rating on the stock in a report on Monday, April 16th. Zacks Investment Research lowered shares of Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Tuesday, April 24th. Wells Fargo & Co upgraded shares of Huntington Ingalls Industries from a “market perform” rating to an “outperform” rating in a report on Friday, May 4th. Stifel Nicolaus decreased their target price on shares of Huntington Ingalls Industries from $230.00 to $200.00 and set a “sell” rating on the stock in a report on Friday, May 4th. Finally, Citigroup upgraded shares of Huntington Ingalls Industries from a “neutral” rating to a “buy” rating and set a $233.00 target price on the stock in a report on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $266.13.

Huntington Ingalls Industries Company 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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Institutional Ownership by Quarter for Huntington Ingalls Industries (NYSE:HII)

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