Cadence Capital Management LLC lessened its stake in Huntington Ingalls Industries Inc (NYSE:HII) by 79.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,512 shares of the aerospace company’s stock after selling 5,945 shares during the quarter. Cadence Capital Management LLC’s holdings in Huntington Ingalls Industries were worth $328,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. First Command Bank acquired a new position in shares of Huntington Ingalls Industries in the second quarter valued at approximately $101,000. First Command Financial Services Inc. acquired a new position in shares of Huntington Ingalls Industries in the second quarter valued at approximately $101,000. Whittier Trust Co. boosted its stake in Huntington Ingalls Industries by 113.1% in the 1st quarter. Whittier Trust Co. now owns 471 shares of the aerospace company’s stock worth $121,000 after purchasing an additional 250 shares during the period. Piedmont Investment Advisors LLC acquired a new position in Huntington Ingalls Industries in the 2nd quarter worth $110,000. Finally, Granite Springs Asset Management LLC acquired a new position in Huntington Ingalls Industries in the 1st quarter worth $209,000. Institutional investors own 85.54% of the company’s stock.
A number of equities analysts recently weighed in on HII shares. Wells Fargo & Co raised shares of Huntington Ingalls Industries from a “market perform” rating to an “outperform” rating in a research note on Friday, May 4th. Zacks Investment Research raised shares of Huntington Ingalls Industries from a “sell” rating to a “hold” rating and set a $262.00 target price for the company in a research note on Friday, August 3rd. Stifel Nicolaus reduced their price objective on Huntington Ingalls Industries from $230.00 to $200.00 and set a “sell” rating for the company in a research report on Friday, May 4th. Seaport Global Securities assumed coverage on Huntington Ingalls Industries in a research report on Thursday, August 23rd. They set a “neutral” rating and a $260.00 price objective for the company. Finally, Credit Suisse Group reduced their price objective on Huntington Ingalls Industries from $328.00 to $301.00 and set an “outperform” rating for the company in a research report on Friday, May 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $267.90.
Shares of HII opened at $240.98 on Friday. Huntington Ingalls Industries Inc has a 12 month low of $201.91 and a 12 month high of $276.69. The firm has a market cap of $10.76 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 0.96 and a beta of 0.97. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.75.
Huntington Ingalls Industries (NYSE:HII) last announced its earnings results on Thursday, August 2nd. The aerospace company reported $5.40 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the company posted $3.21 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. equities research analysts predict that Huntington Ingalls Industries Inc will post 17.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be paid a dividend of $0.72 per share. The ex-dividend date is Thursday, August 30th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.20%. Huntington Ingalls Industries’s dividend payout ratio is 23.72%.
In other news, VP Jerri F. Dickseski sold 270 shares of the firm’s stock in a transaction dated Tuesday, July 10th. The stock was sold at an average price of $225.00, for a total value of $60,750.00. Following the completion of the transaction, the vice president now owns 35,291 shares in the company, valued at approximately $7,940,475. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.22% of the stock is owned by company insiders.
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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