Huntington Ingalls Industries, Inc. $HII is Old North State Wealth Management LLC’s 9th Largest Position

Old North State Wealth Management LLC lifted its position in shares of Huntington Ingalls Industries, Inc. (NYSE:HII) by 15.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,194 shares of the aerospace company’s stock after buying an additional 2,499 shares during the quarter. Huntington Ingalls Industries makes up 2.5% of Old North State Wealth Management LLC’s holdings, making the stock its 9th largest holding. Old North State Wealth Management LLC’s holdings in Huntington Ingalls Industries were worth $5,251,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in HII. CYBER HORNET ETFs LLC purchased a new position in Huntington Ingalls Industries in the 2nd quarter worth approximately $25,000. Rakuten Securities Inc. increased its holdings in Huntington Ingalls Industries by 140.0% in the 2nd quarter. Rakuten Securities Inc. now owns 108 shares of the aerospace company’s stock valued at $26,000 after acquiring an additional 63 shares during the last quarter. SouthState Corp lifted its stake in Huntington Ingalls Industries by 310.0% in the 2nd quarter. SouthState Corp now owns 123 shares of the aerospace company’s stock worth $30,000 after purchasing an additional 93 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Huntington Ingalls Industries by 400.0% during the 2nd quarter. Anchor Investment Management LLC now owns 125 shares of the aerospace company’s stock valued at $30,000 after purchasing an additional 100 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Huntington Ingalls Industries by 363.3% during the second quarter. Smartleaf Asset Management LLC now owns 139 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 109 shares in the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Huntington Ingalls Industries Stock Down 1.2%

Shares of NYSE HII opened at $351.11 on Monday. Huntington Ingalls Industries, Inc. has a 1 year low of $158.88 and a 1 year high of $360.20. The firm has a 50-day simple moving average of $315.98 and a two-hundred day simple moving average of $282.63. The company has a market cap of $13.78 billion, a P/E ratio of 24.25, a PEG ratio of 1.68 and a beta of 0.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.14 and a quick ratio of 1.06.

Huntington Ingalls Industries (NYSE:HII) last released its earnings results on Thursday, October 30th. The aerospace company reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $3.29 by $0.39. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Huntington Ingalls Industries had a return on equity of 11.79% and a net margin of 4.74%.The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.56 earnings per share. Research analysts anticipate that Huntington Ingalls Industries, Inc. will post 13.99 earnings per share for the current year.

Huntington Ingalls Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a $1.38 dividend. The ex-dividend date was Friday, November 28th. This represents a $5.52 dividend on an annualized basis and a yield of 1.6%. This is an increase from Huntington Ingalls Industries’s previous quarterly dividend of $1.35. Huntington Ingalls Industries’s payout ratio is currently 38.12%.

Insider Activity at Huntington Ingalls Industries

In other Huntington Ingalls Industries news, VP Edmond E. Jr. Hughes sold 850 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $315.44, for a total transaction of $268,124.00. Following the transaction, the vice president directly owned 8,731 shares in the company, valued at $2,754,106.64. This trade represents a 8.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Christopher D. Kastner sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $321.06, for a total value of $4,815,900.00. Following the completion of the sale, the chief executive officer owned 68,139 shares of the company’s stock, valued at $21,876,707.34. This represents a 18.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 17,103 shares of company stock worth $5,477,768. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen increased their price target on Huntington Ingalls Industries from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Huntington Ingalls Industries in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Huntington Ingalls Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 29th. Sanford C. Bernstein restated a “market perform” rating and set a $362.00 target price on shares of Huntington Ingalls Industries in a research report on Friday, November 7th. Finally, The Goldman Sachs Group boosted their price objective on Huntington Ingalls Industries from $316.00 to $356.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $325.75.

Huntington Ingalls Industries Company 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.