Convergence Investment Partners LLC Takes $2.05 Million Position in Huntington Ingalls Industries, Inc. $HII

Convergence Investment Partners LLC bought a new position in Huntington Ingalls Industries, Inc. (NYSE:HII) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,405 shares of the aerospace company’s stock, valued at approximately $2,053,000.

Other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in Huntington Ingalls Industries by 38,526.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,986,567 shares of the aerospace company’s stock valued at $675,572,000 after buying an additional 1,981,424 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Huntington Ingalls Industries by 32.1% during the fourth quarter. Van ECK Associates Corp now owns 1,646,733 shares of the aerospace company’s stock worth $560,004,000 after buying an additional 400,428 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Huntington Ingalls Industries by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 1,116,501 shares of the aerospace company’s stock valued at $379,098,000 after acquiring an additional 56,618 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Huntington Ingalls Industries by 85.0% in the 4th quarter. AQR Capital Management LLC now owns 1,085,619 shares of the aerospace company’s stock worth $369,186,000 after acquiring an additional 498,690 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Huntington Ingalls Industries by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 978,365 shares of the aerospace company’s stock worth $332,717,000 after acquiring an additional 11,743 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Insider Transactions at Huntington Ingalls Industries

In other news, VP Edmond E. Jr. Hughes sold 3,500 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $319.58, for a total transaction of $1,118,530.00. Following the completion of the transaction, the vice president directly owned 8,391 shares in the company, valued at $2,681,595.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HII shares. Wells Fargo & Company initiated coverage on Huntington Ingalls Industries in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $400.00 price objective for the company. Wall Street Zen cut Huntington Ingalls Industries from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Citigroup reduced their price target on shares of Huntington Ingalls Industries from $405.00 to $349.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Weiss Ratings lowered shares of Huntington Ingalls Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Finally, TD Cowen lowered their price objective on shares of Huntington Ingalls Industries from $420.00 to $360.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Huntington Ingalls Industries currently has a consensus rating of “Hold” and an average target price of $374.00.

Huntington Ingalls Industries Stock Up 0.3%

Shares of NYSE HII opened at $269.87 on Tuesday. The firm has a 50 day moving average price of $297.10 and a 200 day moving average price of $363.40. The stock has a market cap of $10.63 billion, a P/E ratio of 17.56, a P/E/G ratio of 1.15 and a beta of 0.25. Huntington Ingalls Industries, Inc. has a 52-week low of $250.91 and a 52-week high of $460.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.19.

Huntington Ingalls Industries (NYSE:HII) last issued its quarterly earnings data on Tuesday, May 5th. The aerospace company reported $3.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.70 by $0.09. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.02 billion. Huntington Ingalls Industries had a return on equity of 12.05% and a net margin of 4.71%.Huntington Ingalls Industries’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.79 EPS. Analysts expect that Huntington Ingalls Industries, Inc. will post 17.31 EPS for the current year.

Huntington Ingalls Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were paid a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, May 29th. Huntington Ingalls Industries’s payout ratio is presently 35.91%.

About Huntington Ingalls Industries

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.